ADA price jumps 4% on Binance listing of NIGHT token

Cardano’s ADA climbed 4% to $0.435 after Binance announced it will list the Midnight network’s NIGHT token, with trading scheduled to start on Dec. 9 and airdrop claims available to eligible Binance Alpha users at launch.

The exchange outlined the listing on Dec. 8, setting NIGHT trading to begin the next day. Eligible Alpha users will be able to redeem airdropped tokens using Alpha points, with further details to be provided as trading goes live.

Midnight is a zero-knowledge network built on Cardano that is designed to add privacy features to decentralized applications. The project indicated that broader exchange support would expand access to NIGHT tokens. Other centralized platforms, including Bybit, HTX and Bitpanda, plan to list the token.

Trading in ADA picked up after the listing notice. ADA spot volume increased 85% during that period. In derivatives, total open interest rose 3.48% to $759 million, and 4-hour open interest advanced more than 3%. Funding rates turned positive on Monday (Dec. 8) and were 0.0074% on Tuesday (Dec. 9), a level where long positions pay short positions.

On-chain activity shifted as well. Addresses holding between 10 million and 100 million ADA accumulated roughly 160 million tokens since Dec. 2, while addresses in the 1 million to 10 million range trimmed about 90 million over the same period.

Technical readings leaned constructive on the daily chart. The Relative Strength Index hovered near 43 and pointed toward the neutral 50 level, while the Moving Average Convergence Divergence registered a bullish crossover last week. ADA broke above a falling wedge on Dec. 3, then retested the breakout line before gaining 3.71% on Dec. 8. Market analyst Ali Martinez flagged buy signals from Supertrend and TD Sequential and pointed to a sustained break above the 50-day moving average near $0.51 as a hurdle for further upside.

Cardano founder Charles Hoskinson discussed the coming Midnight launch and emphasized privacy features for enterprise and consumer use cases. Midnight uses zero-knowledge proofs to protect data while keeping transactions auditable where required.

As we covered previously, Cardano faced a temporary chain split caused by a malformed transaction, prompting a quick patch and node upgrade. Solana cofounder Anatoly Yakovenko praised Cardano’s resilience and said its consensus design recovered without serious consequences. Cardano said funds were safe, most retail wallets ignored the faulty packet, and slower blocks were observed as the network stabilized.