Midnight (NIGHT) attracted huge trading volume in December. Many investors expect the upward trend to continue.
Although the price has corrected by about 30% from the recent peak, many traders believe that NIGHT can still rise further due to various factors.
Why do investors think Coinbase and Binance will list NIGHT soon
Binance Alpha supports Midnight (NIGHT) through the airdrop distribution. Data from CoinMarketCap shows that more than 61% of NIGHT's trading volume comes from Binance Alpha.
This leads investors to believe that an official spot listing of NIGHT by Binance is just a matter of time.
Moreover, some investors expect that Coinbase will list NIGHT. The main reason for this is the strong increase in trading volume of NIGHT in recent weeks.
Data from Coingecko shows that from the first listing on December 9, when the trading volume was still $130 million, the spot volume of NIGHT exceeded $5 billion on December 23. This trading volume even surpassed the combined trading volume of SOL, XRP, and BNB.
Typically, airdrop tokens see high volume shortly after listing due to selling pressure. NIGHT, however, shows the opposite, as investors have been accumulating more over time.
"Reason #1 why Coinbase should list $NIGHT: enormous trading volume. NIGHT has shown billions in trading volume daily since its launch. Recently, it ranked in the top 10 worldwide with over $3 billion in 24-hour trading on major exchanges. Institutional and retail interest in privacy technology is growing significantly," says investor Josh.
When an exchange adds an altcoin with high volume, the exchange earns from the generated trading fees. Charles Hoskinson, founder of Cardano, estimates that Coinbase misses out on about $20 million in revenue annually by not listing NIGHT.
With a market capitalization of over $1.4 billion, NIGHT is now in the top 75 of cryptocurrencies. Investors expect that listings on major exchanges could bring NIGHT into the top 20. In that case, the market capitalization would be around $10 billion.
Although the price recently dropped from a high of $0.11 to $0.07, analysts still see this movement as a healthy correction before a potential next rise.
Additionally, Midnight is planning a series of promotional events in Japan in the first two months of 2026. These promotions could attract more retail investors to NIGHT.
However, it is also possible that much of the optimism is already priced into NIGHT. This could lead to new listings primarily causing early buyers to take profits, rather than the price continuing to rise.
