SHIB faces supply pressure, RLUSD destroys stablecoin circulating supply, Midnight network NIGHT token's first day trading volume exceeds 4 billion USD.

[Coin World] SHIB is currently stuck in a bit of an awkward position—wanting to rise but being blocked by a large amount of dumping. There are 815 trillion coins circulating on the exchange, and this level of supply pressure is indeed significant. Although about 500 billion coins can be burned each year, in the context of the total supply, to be honest, the effect is limited, making it difficult to support a sustained pump.

On the other hand, RLUSD is doing subtraction. Recently, Ripple directly destroyed 500,000 RLUSD (worth $500,000) to the Ethereum black hole address, reducing the circulating supply of the stablecoin with a market capitalization of $1.33 billion. This active reduction strategy sends a fairly good signal to the market.

The most eye-catching is still the Midnight network from the Cardano camp. On the day of the NIGHT token launch, the 24-hour trading volume reached a staggering $4 billion—this performance directly surpassed XRP and Solana, which is indeed remarkable. The project's CEO Charles Hoskinson himself stated that this is a “huge success,” and it is expected that the subsequent TVL and the number of active users will see significant growth. It seems that there is another player worth paying attention to in this public chain track.