Midnight Network's NIGHT Token Rises 8.2% as Crypto Market Falls After Binance HackThe $NIGHT
The $NIGHT token of @MidnightNtwrk rose against a broad crypto selloff on Friday. According to CoinGecko data, $NIGHT gained 8.2% over 24 hours to trade at about $0.04, the strongest performance among the top 100 cryptocurrencies by market capitalisation. It was trading at its daily high at the time of writing. $NIGHT has a market capitalisation of about $662 million and ranks 89th on CoinGecko. The total crypto market capitalisation slid to around $2.7 trillion over the same period, with $BTC and $ETH both lower on the d All news in one tap. Use app Crypto News ROCKETM 4.83 (1755) Install Back to the list Midnight Network's NIGHT Token Rises 8.2% as Crypto Market Falls After Binance Hack source-logo bsc.news 51 m image The $NIGHT token of @MidnightNtwrk rose against a broad crypto selloff on Friday. According to CoinGecko data, $NIGHT gained 8.2% over 24 hours to trade at about $0.04, the strongest performance among the top 100 cryptocurrencies by market capitalisation. It was trading at its daily high at the time of writing. $NIGHT has a market capitalisation of about $662 million and ranks 89th on CoinGecko. The total crypto market capitalisation slid to around $2.7 trillion over the same period, with $BTC and $ETH both lower on the day. app-logo Know when your coins move Alerts, real-time prices, and market news — all in one app 4.8 based on 40K reviews in the App Store and Google Play Selloff Follows Record Binance Hack The wider decline followed a security incident at Binance. NBC News reported that the exchange said it was the target of a $6.3 billion heist on Thursday, believed to be the largest ever recorded. Binance said it had frozen about $3 billion of the assets. In a video address on Friday, Decrypt reported that Binance CEO Richard Teng said the exchange had set aside more than $6.34 billion of company funds to cover losses, aims to restore withdrawals by Sunday and plans to publish a full Proof of Reserves report by Monday. What $NIGHT Does on Midnight Midnight is a privacy-focused blockchain. According to Midnight's own tokenomics blog, $NIGHT is the network's utility token with a supply of 24 billion tokens. The same post says holding $NIGHT generates DUST, the network's capacity resource used to power transactions and smart contract execution. Midnight's State of the Network update describes $NIGHT as granting governance rights and acting as the generator of DUST, a renewable resource that regenerates over time based on $NIGHT holdings.ay
#bainancenews #baince #UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax #HKDollarStablecoinHKDAPToLaunchOnSolana #BinanceWillListPredictPREDICT ##BINANCE HACKED! SHOULD YOU BE WORRIED? Here’s my two Cents as someone who has spent years in this market. First, stop comparing every exchange security incident to FTX. A Security breach is NOT the same as insolvency. An exploit, a liquidity Crisis, and a balance-sheet collapse are three completely different things. Let’s break down what matters. Q. What actually happened? $6.6B Got Hacked Q. Who was behind the attack? North Korean Hackers. All prepared in 36 hours, hacked in 20 mins. Q. What happens to the stolen funds? Out of the reported $6.3B hack, around $3B has already been frozen. Binance also has approximately $1.2B in SAFU funds to help cover losses. The Binance team and other industry players are working to recover as much as possible, as quickly as possible. Q. Why would deposits or withdrawals be suspended? For our Safety, deposits are already open, withdrawals was the section hacked, so that will be opened soon. Q. Should Binance users panic? Not at all, Buy $BNB on dips and Sit Comfy while they Panic.
BINANCE HACKED? EVERYONE IS PANICKED I've been seeing people spreading fear, telling everyone Binance is finished and creating unnecessary panic. But hold on. Are we forgetting how big Binance actually is? Binance is the world's largest cryptocurrency exchange. It has substantial reserves, an emergency protection fund (SAFU), and an established global security and compliance infrastructure. Yes, the security breach is serious. Nobody should underestimate a $6.3 BILLION incident. But look at how Binance is responding: Approximately $3 BILLION in affected assets already frozen. Binance has publicly committed to covering losses through its SAFU fund and companyfunds. Security teams are working with blockchain firms and law enforcement to trace and recover assets. Binance reports no evidence of leaked wallet private keys so far. An updated Proof of Reserves has been promised after the security work is complete. That's why I'm not joining the panic. A major exchange facing a serious security incident deserves scrutiny, but declaring Binance finished before the investigation is complete makes no sense either. Confidence should come from transparency, verified reserves and successful recovery not blind trust or fear. So please Don't panic. Don't spread rumors. Watch the facts. we believe on @CZ who has always supported us ♥️🐼