Show description: Charles Hoskinson publicly backed Night and described it as a fourth‑generation cryptocurrency. Night launched on December 9, 2025. The token recorded a 24‑hour gain of 24.2 percent and a seven‑day gain of 54 percent, with 24‑hour trading volume of about $8.558 billion, market capitalization near $1.75 billion, and fully diluted value near $2.5 billion. On‑chain activity showed over 11,000 transactions and more than 1,500 makers across a recent 12‑day window, and the token’s early price movement showed low correlation to Bitcoin. Midnight describes Night’s technical design as a hybrid proof‑of‑stake architecture that aims to produce predictable finality, higher throughput, and bounded resource use to stabilize fees. Midnight positions Night to provide standardized proofs, verifiable data flows, and identity‑aware workflows for use cases including compliant tokenized asset issuance, permissioned settlements, attestations, and reporting, and describes the stack as modular and upgradable. Testnet activity is live, a mainnet target is set, and a Glacier distribution drop is planned with eligibility broadened to holders of BTC, ETH, SOL, ADA, and XRP. Wider institutional adoption is contingent on third‑party audits, custody coverage, exchange listings, developer tooling, enterprise pilots, asset manager partnerships, and cloud provider alignment. Delivering sustained low fees and high throughput under real‑world load remains a delivery risk until independent usage and dashboards confirm performance. Multiple competitors are pursuing scaling, privacy‑preserving computation, and identity‑aware access, and regulatory posture and custody readiness will affect institutional flows. Technical market levels cited to monitor sentiment include acceptance above $0.10 for continuation, pullback zones around $0.075, and an invalidation level near $0.06. For builders, opportunities exist to provide tooling, compliance layers, custody integrations, and enterprise pilots that enable institutional use. Night’s token mechanics anchor governance and utility within Midnight, making protocol upgrade paths, auditability, and change management material for institutional evaluation. Liquidity is currently substantial, and its durability depends on exchange depth, broad custody support, and enterprise distribution deals. Credibility of the fourth‑generation characterization depends on whether Midnight delivers a hybrid consensus that sustains low fees under load and an auditable universal proof layer that institutions can integrate; if those outcomes do not materialize, market repricing could follow once usage and regulatory clarity are assessed. 

Source: https://web3businessnews.com/crypto/hoskinson-night-fourth-gen-crypto/

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