Recent developments around Cardano and its Midnight (NIGHT) token have caught the attention of the crypto community.
With over 1 billion NIGHT tokens claimed in the first week of the Glacier Drop and tens of thousands of wallets participating, the airdrop has sparked a debate in the community as the activity continues to pick momentum.
It all began after a meme on X suggested that most of the tokens might eventually make their way back to founder Charles Hoskinson, hinting that the airdrop was not drawing enough participation.
However, Hoskinson was quick to respond, pushing back the rumors.
He said that the airdrop is performing incredibly well and questioned why people were trying to spread misinformation about it. As of August 19, over 69,000 wallets have already claimed over 1.3 billion NIGHT tokens, which is about 5.5% of the entire supply.
MEME’d, the ADA meme page on X, also pointed out that only about 0.1% of wallets had claimed NIGHT tokens so far. Hoskinson replied that if the airdrop reaches 250,000 wallets, it would go down as the most successful in crypto history, and said it’s already on track to pass that mark.
The Midnight Airdrop launched in early August, saw over 250 million tokens claimed in just the first day. Although momentum has cooled since then, Hoskinson notes that the 60-day claim window was built to give everyone a fair chance, so many holders may be waiting until the last minute.
In its first week, the Glacier Drop saw over 1 billion NIGHT tokens claimed, more than 4% of the total supply. The airdrop runs until October 4, with nearly 34 million addresses eligible to claim before the next phase opens to everyone.
Midnight is working to build trust with bigger players in the space. The Midnight Foundation recently partnered with Fireblocks, a well-known digital asset security firm, to support institutional custody for NIGHT tokens.
Meanwhile, Cardano has hit a new milestone, with over 4.8 million unique wallets now holding ADA, an 18% increase in the past year. The report also noted Cardano’s expanding real-world use cases and growing appeal among institutions.
Cardano’s futures trading volume has also surged to $7 billion, the highest in five months. Cardano’s DeFi ecosystem is gaining traction, with total value locked climbing 56% since July to over $400 million, according to data from Defilama.
It is a large-scale token distribution by Cardano where eligible wallets can claim free NIGHT tokens. Over 1.3 billion tokens have been claimed.
As of mid-August, over 69,000 unique wallets have claimed their tokens, demonstrating strong initial participation in the event.
The airdrop claim window is open until October 4, giving holders a 60-day period to claim their tokens before the next phase.
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