Hoskinson Boasts NIGHT Volume Beats XRP and SOL: Should You Care?
#BinanceBlockchainWeek In the latest Cardano news,Cardano founder Charles Hoskinson claimed on X that the new Midnight token, NIGHT, traded more in 24 hours than XRP and Solana combined, after volume hit around $4 billion. NIGHT changed hands near $0.0738 with about $1.2 billion in market cap, putting it in the top 60 coins by size but near the top 10 by trading activity. This spike plays into a larger 2025 story, which has seen retail investors downtrodden by institutional money finding fresh interest in privacy coins, cross-chain bridges. Now the question is whether Cardano is still a “ghost chain” or quietly awakening.
And that last bit is critical, long-suffering ADA holders have spent years being berrated for the price performance of their bags – perhaps at no time more so than when we all saw the ADA hate amid the meme coin mania of Winter 2024. But after all those hard years of holding on through the inevitable self-hatred, they might finally have something to show for it. After all, calling Cardano a ‘ghost chain’ while its sidechain is doing $6B in volume is becoming harder to justify. But as a trader, you still must ask: is this sustainable liquidity or just a highly efficient wash-trading engine fueled by airdrop farmers?
What Is NIGHT And Why Are Traders Suddenly Obsessed With It?
NIGHT is the native token of Midnight, Cardano’s new privacy-focused network that sits alongside the main Cardano (ADA) efforts led by Charles Hoskinson. Think of Midnight as a side room off the main Cardano hall where people can transact and use apps without broadcasting every detail to the world. NIGHT launched on December 8 after months of hype and quickly landed on major exchanges, including Binance, Bybit, Kraken, and OKX.