Despite Midnight (NIGHT) recently pulling back 30% from a peak price of $0.11 to $0.07, its trading volume remains astonishing, having surpassed $5 billion as of December 23. Investors anticipate that Midnight is likely to be listed on major exchanges such as Binance and Coinbase. Cardano founder Charles Hoskinson estimates that Coinbase will lose about $20 million in fees each year due to not listing Midnight. Midnight's market capitalization has exceeded $1.4 billion, and analysts believe that this pullback is healthy before the planned promotional activities in Japan in 2026.