Midnight token trading volume exceeds the total of XRP and SOL

The Midnight NIGHT token created a trading volume of 8.5 billion dollars in 24 hours on December 22, surpassing the total of XRP and SOL. The price rose by 24% to 0.10 dollars, making it one of the top 50 performers. Founder Hoskinson hinted at more actions.

This privacy sidechain testnet developed by the Cardano team has shown significant growth, and the explosion in trading volume reflects the market's high interest in privacy solutions. Finding a balance between regulatory pressure and on-chain transparency has always been a core issue in the crypto space. Midnight's technical solution may open up new directions through zero-knowledge proofs that achieve selective disclosure.

From a market structure perspective, the trading volume surpassing XRP and SOL indicates that investors are reallocating funds towards projects with innovative narratives. However, it is important to be cautious as high trading volume does not always mean a healthy market; it could be speculative hype or market maker activity. Hoskinson's hints have created further expectations, but the specifics still need to be observed.

The advice for investors is to distinguish between technological innovation and market speculation. Midnight's privacy technology indeed addresses real issues, particularly the demand for data privacy when enterprises adopt blockchain. However, whether the current price reflects a reasonable valuation requires in-depth analysis. It is recommended to pay attention to actual usage data from the testnet, the mainnet launch timeline, and comparisons with other privacy projects. If the trading volume continues to remain high and there are substantial developments, it would be worth considering allocation; otherwise, the short-term volatility risk remains significant.