TLDR
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Binance has announced the listing of Midnight’s NIGHT token, starting on December 9.
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The listing has caused ADA’s price to rise by 4%, reflecting strong market interest.
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Midnight aims to enhance privacy features for decentralized applications on Cardano’s blockchain.
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Binance Alpha users can claim airdrops of the NIGHT token using their points.
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Other exchanges like Bybit and Bitpanda have also listed the NIGHT token.
Binance has announced its support for Midnight network’s native token, NIGHT, triggering a 4% increase in ADA’s price. This listing, which will begin on December 9, follows a detailed announcement from Binance Alpha. Eligible users will be able to claim their NIGHT token airdrop using Binance Alpha points.
Binance Lists Midnight’s NIGHT Token
On December 8, Binance confirmed that it would list the Midnight network’s NIGHT token. According to Binance, the token listing will be available to its users starting December 9. Midnight’s NIGHT token has already attracted attention from several other exchanges like Bybit and Bitpanda.
“Binance’s listing of NIGHT will expose the token to a broader audience,” Midnight officials stated. The listing is expected to encourage more users to join the Midnight network. Furthermore, it will help expand the reach of NIGHT and accelerate the adoption of privacy features in the Web3 ecosystem.
Midnight Privacy Chain Gains Ground
Midnight’s zero-knowledge proof network aims to provide enhanced privacy features for decentralized applications on the Cardano blockchain. The network is positioning itself as a competitor to other privacy chains such as Zcash and Monero. The listing on Binance is expected to push the token further into the spotlight.
Midnight’s focus is on providing private transactions and preserving data confidentiality in decentralized apps. The announcement comes at a time when interest in privacy-focused blockchain projects is rising. Charles Hoskinson, the founder of Cardano, shared details about the project’s upcoming launch, showing support for the network’s growth.
ADA Price Climbs Following Binance Announcement
The announcement of Binance’s support for Midnight’s NIGHT token has resulted in an immediate spike in ADA’s price. ADA rose by more than 4%, reaching $0.435 within hours. During this time, the coin’s trading volume increased by 85%, reflecting growing interest among traders.
The price movement saw ADA’s 24-hour low at $0.407 and a high of $0.437. This surge comes after crypto analyst Ali Martinez highlighted buy signals for Cardano. The coin is expected to gain further momentum once it breaks above the 50-day moving average at $0.51.
ADA Futures See Increased Activity
The futures market for ADA also showed a surge in buying activity following the listing announcement. According to CoinGlass data, ADA’s open interest climbed by 3.48%, reaching $759 million in just 24 hours. Furthermore, the 4-hour open interest for ADA futures was up more than 3%, indicating strong bullish sentiment among traders.
This increase in futures interest reflects traders’ optimism surrounding ADA’s future performance. As Binance lists NIGHT, Cardano’s ecosystem is witnessing more engagement from both retail and institutional investors. With Midnight’s token now on Binance, further market movements for both NIGHT and ADA are expected.
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