Midnight Token Hits Record High as Exchange Listings Spark Trading Frenzy
The native token of Midnight, a privacy-focused partner chain on Cardano, has an all-time high, driven by a surge in major platform listings that have led to record trading volumes. On December 22, 2025, the NIGHT token reached its highest price since its launch.
Retail and institutional traders both reached intraday peaks. Trading volume shot up to record levels, making Midnight the fourth-most-traded cryptocurrency in the world for a short time, beating well-known assets like Solana, XRP, and BNB in daily turnover.
large Listings Cause Liquidity Boom
The release of new trading pairs on top-tier platforms like , Bybit, and Kraken has sparked the frenzy. These listings made the order book much deeper, and the bid-ask spreads much smaller, which made price discovery easier and brought in a lot of money.
Market data shows strong on-chain flows and little tradeing pressure, suggesting purchaviewrs remain interested. used moderate amounts of leverage, which assisted keep immediate liquidation risks in check amid the rapid rise.
Technical Breakout Signals Strength
Market analysts said that NIGHT has a clear breakout above the top trendline on the four-hour timeframe. One observer said, “Technicals show a clean breakout above the four-hour trendline with support forming in a lower range, while leverage remains moderate and liquidation risk contained.”
There were some pockets of profit-taking around the peak, but the overall structure was positive. New support zones became stronger as liquidity improved later than listings. Traders are now watching for possible price swings around upcoming resistance levels.
Request for Privacy and Cardano Ecosystem Rotation
stands out against a backdrop of low activity on Cardano’s main chain, where total value locked has fallen slightly over the last few sessions. People watching the market say that money may be moving from Cardano’s decentralised finance apps to Midnight markets. This is a typical pattern when new tokens are listed, and people want to purchase up new assets.
Analysts said, “On-chain data suggests that money is moving from DeFi to Midnight as investors bet on zero-knowledge privacy infrastructure tied to Charles Hoskinson’s ecosystem.”
The token’s connection to Cardano founder Charles Hoskinson has made people feel even better about it. Midnight’s use of zero-knowledge proofs for programmable data protection that meets regulatory needs has also gotten a lot of attention.
Industry analysts say the broader impetus stems from growing interest in privacy answers amid ongoing regulatory discussions over data protection. They claimed, “Midnight’s performance showed that people are becoming more interested in privacy infrastructure as regulatory pressure and debates over data protection have made zero-knowledge answers more significant.”
Outlook in the Face of Warnings of Volatility
Analysts say aggressive profit-taking could trigger abrupt pullbacks, but if heavy volume persists, it could lead to consolidation and further gains. “Traders expect more volatility near significant resistance levels,” the analysis said. “Stable trading volume could assist prices go up even more, but aggressive profit-taking could cause large drops.”
Midnight is still the star of the privacy coin story, and its success shows that there is a demand for new in existing ecosystems like Cardano.
