TL;DR
- Midnight, Cardano’s privacy protocol, rose by around 10.4% in 24 hours, outperforming the broader crypto market and breaking key technical levels.
- NIGHT is trading near $0.104, with $8.4B in volume, up 82% and more than five times its total market capitalization.
- The rally is driven by renewed interest in privacy-focused tokens and expectations of a potential partnership between Cardano and a major stablecoin issuer, still unconfirmed.
Midnight, the privacy protocol within the Cardano ecosystem, posted a gain of roughly 10.4% over the past 24 hours. The token not only outperformed the broader crypto market, which rose by less than 1%, but also broke through its most relevant technical levels, fueled by growing interest in privacy-centered assets.
NIGHT pushed past the $0.10 mark and traded around $0.104 after reaching an intraday high of $0.1189. This move reversed the price action seen in recent days and placed the token above the range that had dominated most of December. Trading volume surged by more than 82% to $8.4 billion, a figure that exceeds the token’s total market capitalization by five times and highlights heavy participation from short-term traders.
It is worth noting that over the weekend, trading activity had already exceeded $3.5 billion, with a jump of more than 60% that lifted the price from $0.063 to the $0.07 area. The continuation of that flow allowed the token to reclaim the $0.10 level and hold it, at least for now. However, technical indicators are warning of a potential shift in momentum. NIGHT’s RSI reached 81.82, a clear overbought signal that often precedes partial corrections.
NIGHT Could Capitalize on the Privacy Asset Frenzy
Beyond short-term reactions, the underlying narrative explains much of the renewed interest in the token. The market has turned its attention back to privacy tokens, a direct consequence of ongoing regulatory debates and a growing preference among certain segments for tools that prioritize transactional confidentiality. Within this context, Midnight stands out as one of the strongest bets inside the Cardano ecosystem.
On top of that, there is growing anticipation around a potential partnership between Cardano and a major stablecoin issuer. Talks are reportedly at an advanced stage, and a deal could be finalized in the coming weeks. The market views this possibility as a factor that could draw broader industry attention toward Midnight, although no official confirmation has been released so far.
