XRP News Today: Cardano founder airdrops 1.2B NIGHT tokens to 37M XRP wallets largest by wallet reach

Cardano founder Charles Hoskinson has announced a landmark airdrop of 1.2 billion NIGHT tokens to XRP holders as part of the Midnight network’s launch, marking what is described as the largest token distribution in history by wallet reach. The initiative, which aims to foster cross-chain inclusivity, will impact approximately 37 million wallets globally, uniting XRP, Bitcoin, and Ethereum communities under a single airdrop framework [1]. Eligible participants must hold at least $100 worth of XRP as of June 11, 2025, a threshold designed to ensure broad participation while maintaining security standards [1].

The airdrop, confirmed by Hoskinson, underscores a strategic effort to bridge blockchain ecosystems. By distributing tokens without requiring registration or KYC compliance, the Midnight network seeks to lower barriers to entry for decentralized finance (DeFi) and layer-2 innovations. Hoskinson emphasized the event as a “unifying moment,” stating, “We are building bridges, not walls, across chains” [1]. The move follows similar past distributions, such as Uniswap’s 2020 airdrop, but distinguishes itself through its multi-chain scale and unprecedented global reach [1].

Market analysts have highlighted potential implications for liquidity and sentiment. The sudden influx of NIGHT tokens into 37 million wallets could influence trading dynamics across XRP, Bitcoin, and Ethereum ecosystems. While no valuation metrics for NIGHT tokens were disclosed, historical precedents suggest airdropped tokens often experience volatility in the short term. However, the absence of immediate sell pressure from centralized exchanges—given the airdrop’s decentralized nature—may mitigate risks to broader market stability [1].

The initiative also raises questions about token utility and governance. Unlike traditional airdrops tied to protocol upgrades or governance votes, NIGHT tokens’ role in the Midnight network remains unspecified in the provided details. This ambiguity could affect long-term adoption, as users may require clarity on how the tokens integrate with existing blockchain infrastructure [1].

Critically, the airdrop’s success hinges on the Midnight network’s ability to deliver on its cross-chain vision. Past large-scale token distributions, such as those by Cosmos or Polkadot, have faced challenges in maintaining community engagement post-issuance. For NIGHT tokens to achieve lasting value, the Midnight network must demonstrate tangible use cases, such as interoperability solutions or decentralized governance mechanisms [1].

The event reflects a broader trend in the crypto industry toward democratizing access. By targeting XRP holders—a traditionally underserved segment of the market—Hoskinson’s airdrop could catalyze interest in cross-chain technologies. However, regulatory scrutiny remains a wildcard, particularly as jurisdictions increasingly focus on token airdrops and their compliance with securities laws [1].

Source: [1] XRP Holders to Get Largest Ever Token Airdrop (https://coinmarketcap.com/community/articles/6888aab4d58b8b24ae7ab1cc/)