The $NIGHT market seems to be taking a breather.

Looking at the data from the past three days, we can feel the temperature dropping rapidly — on December 23rd, the peak spot trading volume across the entire network was $10.25 billion, which directly dropped to $7.82 billion on the 24th, and further halved to $2.05 billion on the 25th. This downward trend is quite obvious.

Let's also examine the specific performance across platforms:

**December 23rd** — Peak of popularity
- Total network trading volume: $10.25 billion
- Major Exchange: $2.21 billion
- Platform A: $7.69 billion
- Regulated Exchange: $0.35 billion
- Platform A market share: 75%

**December 24th** — Noticeable correction
- Total network trading volume: $7.82 billion
- Major Exchange: $3.25 billion
- Platform A: $4.21 billion
- Regulated Exchange: $0.36 billion
- Platform A market share: 53.8%

**December 25th** — Continuing decline
- Total network trading volume: $2.05 billion
- Major Exchange: $1.02 billion
- Platform A: $0.88 billion
- Regulated Exchange: $0.09 billion
- Platform A market share: 42.9%

These numbers clearly show what’s happening in the market — trading volume is decreasing step by step, and the performance of each platform is also declining. Platform A’s market share has dropped from 75% to 42.9%, reflecting a rapid cooling of overall market enthusiasm. The trading activity of $NIGHT is clearly weakening, and whether it can reignite depends on if new catalysts emerge to rekindle market heat.