NIGHT dominates volume charts as interest surges ahead of mainnet plans | Credit: Hameem Sarwar
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Key Takeaways
NIGHT’s price closes in on a record high as volume surges past that of top cryptos.
The technical setup indicates a breakout, but short-term pullback risk remains elevated.
This analysis reveals if strong demand will be able to drive Midnight to a new high.
NIGHT, the native token of Midnight, a Cardano-based layer-1 blockchain, has remained firmly in the spotlight.
While many large-cap assets remain under pressure, NIGHT has continued to attract demand.
As of this writing, the token has increased in value by roughly 328% since its launch. The strength is also evident in activity metrics.
Over the past 24 hours, NIGHT’s trading volume has exceeded that of several major cryptocurrencies, including BNB, XRP, and Solana.
The key question now is whether this move represents the early stages of a sustained breakout or not. Let’s find out.
Why Is NIGHT Price Up?
At the time of writing, NIGHT’s price has hit $0.11 and is currently 10% away from retesting its all-time high.
According to CCN’s analysis, the price surge occurred due to rising market interest in the cryptocurrency, as reflected in the increased trading volume.
CoinMarketCap data showed that Midnight’s 24-hour trading volume surpassed $7 billion. XRP, on the other hand, stood at $2.41 billion.
BNB’s trading volume within the same period was $1.59 billion, while Solana was $2.76 billion.
Considering the price action, this increase in volume suggests that the Midnight token has more buying pressure, indicating that bulls are in control.
If this remains the same, it may not be long before the altcoin reaches a new record high.
Before the breakout, price action had compressed within a narrow range, reflecting a period of indecision.
Since then, the Midnight token has managed to hold support near $0.055 while pushing above the former upper boundary around $0.075, reinforcing the validity of the breakout.
Momentum indicators support the move. Bull Bear Power (BBP) has remained in positive territory, suggesting buyers continue to exert control.
Additionally, the Supertrend indicator has flipped bullish, with its green band positioned below the spot price, often interpreted as a sign that the prevailing trend remains intact.
While short-term pullbacks cannot be ruled out after a move higher, the technical structure currently favors continuation as long as the price holds above newly established support levels.
Beyond price action, network-level data points to growing development activity.
According to the Midnight Blockchain Explorer, the protocol has surpassed a key testnet milestone, producing over 3 million blocks.
Transaction throughput has also increased, with nearly 500,000 transactions processed on the testnet so far. These metrics are being released as Midnight prepares for its mainnet launch, which is currently scheduled for Q1 2026.
Hoskinson Outlines 2026 Roadmap
Commenting on the progress, Charles Hoskinson, founder of the Midnight privacy chain, said the project could see significant expansion across several metrics over the next 12 months.
“When Midnight turns on, imagine the 12-month rolling average TVL, transactions, and MAUs. A lot of people want private prediction markets, stablecoins, and DEXes,” Hoskinson wrote on X on Dec. 21
Additionally, the founder outlined Midnight’s roadmap for the year ahead, providing a clearer view of how the protocol’s development is expected to unfold, as described below:
Phase 1: Hilo — currently live.
Phase 2: Kukolu — scheduled for implementation in Q1 2026.
Phase 3: Mohalu — planned for Q2 2026.
Phase 4: Hua — targeted for rollout in Q3 2026.
NIGHT Price Prediction: Upside Bias Holds
From a technical standpoint, the 4-hour chart suggests that NIGHT may be due for a short-term cooldown.
The Awesome Oscillator (AO) remains in positive territory, indicating that bullish momentum has not yet fully unwound.
However, the Relative Strength Index (RSI) has pushed into overbought territory, increasing the likelihood of a near-term pullback as momentum normalizes.
Under this setup, NIGHT could retrace toward the $0.088 region in the short term. Such a move would be consistent with a healthy consolidation rather than a trend reversal.
That said, downside risk may remain limited if trading activity continues to outpace major assets such as XRP, Solana, and BNB. Sustained volume could allow NIGHT’s price to stabilize quickly and resume its uptrend.
In that scenario, a push toward a fresh all-time high, potentially around $0.17, would come back into focus.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
