The Midnight Foundation reports that users have now redeemed 2 billion NIGHT tokens, marking a significant milestone in the token’s redemption program.
As stated in the announcement, more than 2 billion NIGHT tokens have been redeemed since the redemption initiative launched in December 2025.
For context, over 170 000 wallets on eight blockchains—including Cardano and the XRP Ledger—claimed 3.5 billion NIGHT during the Glacier Drop phase from August 5 to October 20 2025. The subsequent Scavenger Mine phase added another 1 billion NIGHT, raising total claimed allocations to 4.5 billion NIGHT.
NIGHT Redemption
Although redemption began last year, users cannot claim their full allocations right away. Instead, a thawing mechanism releases the tokens in four staggered periods.
Three of the four thawing periods have already concluded. The fourth and final period started on September 6 2026 and will run through December 4 2026.
With 2 billion NIGHT already redeemed, approximately 2.5 billion NIGHT remain eligible for redemption before the December 4 deadline.
90-Day Grace Period Follows Final Thaw
Following the December 4 deadline, Midnight will initiate a 90‑day grace period, allowing users to continue claiming their fully thawed NIGHT tokens via the official Midnight Redemption Portal or compatible wallet apps.
After the grace period concludes, Midnight will deactivate the Redemption Portal’s front‑end and backend APIs. NIGHT functions as the native utility token of Midnight, the privacy‑oriented blockchain ecosystem built on Cardano.
Midnight Mainnet Surpasses 145,000 Transactions
Meanwhile, Midnight continues to log network activity. According to Midnight Explorer, the mainnet has processed more than 145 000 transactions, and the pre‑production testnet has surpassed 604 000 transactions.
The number of NIGHT holders in the Cardano ecosystem has also exceeded 86 600, now standing at 86 653 holders.
At the time of writing, NIGHT trades at $0.02034, a 0.8 % decline over the past 24 hours. Its market capitalisation has slipped to $338.17 million, well below the > $1 billion valuation seen shortly after launch.
Despite the drop, NIGHT remains the 99th‑largest cryptocurrency by market cap, and its 24‑hour trading volume has risen 10.83 % to $10.28 million.
