In December, Midnight (NIGHT) attracted a large amount of trading volume. Many investors expect the upward trend in prices to continue.
Although the price has corrected around 30% from its recent peak, several factors have traders believing that NIGHT still has the potential to skyrocket.
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Why do investors believe Coinbase and Binance will list NIGHT soon?
Binance Alpha supports Midnight (NIGHT) through airdrop distribution. According to data from CoinMarketCap, over 61% of NIGHT’s trading volume comes from Binance Alpha.
As a result, investors believe that an official spot listing of NIGHT by Binance is only a matter of time.
Additionally, some investors expect Coinbase to list on NIGHT. The main reason is that NIGHT’s trading volume has increased sharply in recent weeks.
From its initial listing on Dec. 9, when trading volume was just $130 million, NIGHT’s spot trading volume exceeded $5 billion by Dec. 23, according to Coingecko data. This level of volume even exceeds the combined trading volume of SOL, XRP, and BNB.
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Typically, airdropped tokens are traded heavily immediately after listing due to selling pressure. NIGHT shows the opposite pattern as investor accumulation strengthened over time.
“Reason #1 why Coinbase should list $NIGHT: Huge trading volume. Since its launch, NIGHT has recorded billions of dollars in trading volume every day. It recently entered the world’s top 10 with over $3 billion in 24-hour trading on major exchanges. There is growing interest from institutions and retailers in privacy technology,” said investor Josh.
When an exchange lists a large number of altcoins, it benefits from the transaction fees generated by that asset. Cardano founder Charles Hoskinson estimates that Coinbase could lose about $20 million a year in transaction fees by not listing NIGHT.
NIGHT has a market capitalization of over $1.4 billion and currently ranks among the top 75 cryptocurrencies. Investors predict that a listing on a major exchange could push NIGHT into the top 20. This scenario suggests a market capitalization of around $10 billion.
The price recently corrected from a peak of $0.11 to $0.07, but analysts still view this move as a healthy decline on the way to another rally.
Additionally, Midnight is planning a series of promotional events in Japan for the first two months of 2026. These events could draw more retail investors to NIGHT.
But from another perspective, much of this optimism may already be baked into “NIGHT.” As a result, an initial public offering may provide liquidity for early buyers to profit, rather than driving up prices.
