Midnight (NIGHT) has seen very high trading volume in December. Many investors believe that the price will continue to rise.
Despite the price having backed down by about 30% from its recent peak, several factors appear to give NIGHT a chance to increase again.
Why do investors believe that Coinbase and Binance will soon list NIGHT?
Binance Alpha supports Midnight (NIGHT) through its airdrop distribution. According to data from CoinMarketCap, over 61% of NIGHT's trading volume comes from Binance Alpha.
Therefore, investors believe that an official spot listing of NIGHT on Binance is just a matter of time.
In addition to this, some investors expect Coinbase to list NIGHT. The significant increase in NIGHT's trading volume in recent weeks is the main reason.
Coingecko shows that since the listing on December 9, when the volume was only 130 million USD, NIGHT's spot volume rose to over 5 billion USD on December 23. This volume even exceeded the combined volume of SOL, XRP, and BNB.
Tokens from airdrops often receive high volume immediately after listing due to selling pressure. NIGHT shows the opposite pattern as investors have increased their holdings over time.
“Reason 1 why Coinbase should list NIGHT: Enormous trading volume. NIGHT has had billions in daily volume since launch. It recently reached global top 10 with over 3 billion USD in 24-hour trades on major exchanges. Interest in privacy technology is rapidly increasing among institutions and individuals,” says investor Josh.
When an exchange lists an altcoin with high volume, it charges fees from the trading. Charles Hoskinson, the founder of Cardano, estimates that Coinbase could lose around 20 million USD per year in trading fees by not listing NIGHT.
With a market capitalization of over 1.4 billion USD, NIGHT is now among the 75 largest cryptocurrencies. Investors believe that listings on major exchanges could lift NIGHT into the top 20. This would imply a market cap of around 10 billion USD.
Despite the price recently falling from a peak of 0.11 USD to 0.07 USD, analysts view this movement as a healthy pullback ahead of the next rise.
Midnight is also planning a series of marketing events in Japan during the first two months of 2026. These events could attract more small investors to NIGHT.
But from another perspective, much of this optimism may already be priced into NIGHT's value. New listings may therefore not lift the price, but can provide liquidity so early buyers can sell at a profit.
