Midnight's NIGHT token has risen over 235% from its lowest level this year, bringing its market capitalization above $812 million. The token has become highly overbought, with its Relative Strength Index reaching 86. NIGHT may retreat in the near term, potentially to $0.040. DeFi Llama does not list any projects built using Midnight's technology. Midnight enabled developers to deploy smart contracts last week, removing one reason for the network's lack of decentralized applications.