The world’s leading crypto exchange Binance announces support for Midnight network’s native token NIGHT. The Binance listing NIGHT token sparks speculation within the Cardano community, triggering ADA price to climb by 4% within hours on Monday.
Binance Announces Support for Cardano’s Midnight, Securing NIGHT Token Listing
Binance Alpha to list Cardano privacy chain Midnight’s NIGHT token, according to an announcement in an X post on December 8.
The exchange added that eligible users can claim their airdrop using Binance Alpha points once trading opens on December 9. Binance will share more details about Midnight support soon.
Midnight stated that the Binance listing will help introduce NIGHT to a larger audience and encourage more users to join the Midnight network. It will also expand NIGHT’s reach and speed up the adoption of privacy features across Web3.
The Midnight zero-knowledge proof network is designed to provide enhanced privacy features for decentralized applications (dApps) on Cardano. This positions it as a competitor to other privacy chains such as Zcash and Monero.
Notably, crypto exchange such as Bybit, HTX, Bitpanda and others have already announced NIGHT token listing. Cardano founder Charles Hoskinson reacted to recent announcements, sharing details on the upcoming launch of Midnight.
ADA Price Jumps 4% as Crypto Community Reacts
ADA price soared by more than 4% to $0.435 as traders responded immediately to Binance’s Midnight (NIGHT) token listing announcement. The 24-hour low and high were $0.407 and $0.437, respectively. Furthermore, trading volume has increased by 85% over the past 24 hours, indicating a massive rise in interest among traders.
Recently, crypto analyst Ali Martinez highlighted buy signals for Cardano by Supertrend and TD Sequential. Cardano will pick up upside momentum after breaking above the 50-day moving average at $0.51.
Cardano 12-Hour Price Chart. Source: Ali MartinezThe derivatives market saw massive buying in the last few hours, as per CoinGlass data. At the time of writing, the total ADA futures open interest climbed 3.48% to $759 million in the last 24 hours. Also, the 4-hour open interest for ADA futures was up more than 3%, indicating bullish sentiment among traders.
Source: https://coingape.com/cardano-midnight-secures-night-token-listing-on-binance-ada-soars/
