The Midnight (NIGHT) price is one of the strongest movers in the market today. The token is up around 10% over the past day, trading near $0.06203 at the time of writing. Trading volume has also climbed by roughly 12%, pushing NIGHT to the top of today’s gainers list.
The move is not coming out of nowhere. A combination of fresh liquidity, high-profile endorsements, and a constructive chart setup is driving interest back into the token.
The biggest catalyst behind NIGHT price surge is the recent “Glacier Drop” airdrop. Midnight distributed 3.5 billion NIGHT tokens to more than 170,000 wallets across eight different blockchains. Around 25% of those tokens unlocked immediately, creating early sell pressure.
Demand surged after major exchanges listed the token. Bybit now accounts for roughly 67% of total NIGHT trading volume, while Binance Alpha and CEX.IO listings expanded access even further. As a result, 24-hour trading volume jumped to around $1.5–$1.6 billion, a figure that now exceeds NIGHT’s estimated market cap.
🔥JUST IN: $NIGHT HAS 3 TIMES THE TRADING VOLUME OF $ADA 🚀
— midnightexplorer.com (@midnightexplr) December 17, 2025
Over the past 24 hours, NIGHT has seen a trading volume of $1.5 billion, more than ADA, which had a trading volume of $500 million.🌒
Midnight is leading the security trend, a giant monster at the forefront of 4th… pic.twitter.com/OK9VxfFlYD
This imbalance shows aggressive short-term interest from traders rather than slow accumulation. The next set of tests will emerge from the upcoming unlocks, which will release the balance of the airdrop on a schedule of every 90 days through 2026.”
Furthermore, the sentiment was further fueled by the fact that the launch of Midnight was applauded by the founder of Cardano, namely Charles Hoskinson, as the best launch Cardano has experienced so far.
This was especially welcomed in the Cardano community. NIGHT quickly became one of the most discussed tokens on social media, briefly ranking among the top trending assets globally. Even as broader market sentiment remains cautious, Midnight managed to attract attention and capital.
CEX.IO also leaned into that narrative, emphasizing Midnight’s use of zero-knowledge proofs to deliver privacy without triggering regulatory red flags.
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💥 @MidnightNtwrk $NIGHT is now trading on CEX•IO.
— CEX.IO (@cex_io) December 17, 2025
ℹ️ Backed by the Cardano ecosystem and powered by ZK-proofs, the Midnight Network delivers data protection without the regulatory headaches.
💳 Buy NIGHT instantly ➡️ https://t.co/lDCuWFKk9D#NIGHT #Cardano #MidnightNetwork… pic.twitter.com/tUN6IopoAM
NIGHT Chart Signals Compression Before Expansion
From a technical perspective, the NIGHT price is moving into a decisive zone. According to analyst Crypto Coral, the token is actively searching for a floor. The daily chart shows price tightening inside a symmetrical triangle, with higher lows forming against descending resistance.
This kind of structure often precedes a volatility expansion. Buyers are stepping in earlier on pullbacks, while sellers are becoming less aggressive near resistance. The result is compression, not distribution.
Crypto Coral framed the setup as the early stages of a broader privacy-focused narrative, suggesting the current consolidation could be a base rather than a top.
What Comes Next for NIGHT
Short-term momentum is clearly bullish, supported by volume and visibility. Still, traders will be watching how the Midnight price behaves near the upper boundary of the triangle and whether volume remains elevated after the initial excitement fades.
Future airdrop unlocks remain the main risk. Sustained demand will be needed to absorb new supply without disrupting structure. For now, Midnight is holding attention – and the market is listening.
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