Cardano Founder Says Midnight Heading to a $10B Ecosystem

Charles Hoskinson, the founder of Cardano, has continued to express his belief that the Midnight project will be a massive success.

Midnight to 10x In Valuation

Notably, the NIGHT token began trading on December 9, and eligible airdrop participants received their allocation yesterday. CoinMarketCap data shows a circulating supply of 16.6 billion (69.2% of the total supply) and a market cap of $835 million

The asset reached different highs on several platforms, but Bybit spot shows it peaked at $0.088 on December 10. With its circulation supply, this culminates in a market cap of $1.46 billion.

This aligns with Hoskinson’s statement about Midnight’s valuation. The Cardano founder noted that the privacy-focused project was once hypothetical but has now become a billion-dollar ecosystem.

Interestingly, he expects more for Midnight, projecting a 10x upscale in valuation. He stated that NIGHT is heading towards a $10 billion valuation and would expand beyond being just a Cardano-native token (CNT) to something much larger.

More Exchanges to List the Cardano Native Token

Further, Hoskinson expects more trading platforms to add support for NIGHT, expanding its global reach. He noted in a separate podcast that several other exchanges will make the token available for its users to trade in the next 60 days.

Specifically, he expects these listings from a few other US-based exchanges before their international counterparts follow suit. Japanese crypto exchanges are among those Hoskinson believes would aggressively add support for NIGHT trading.

Remarkably, he had earlier predicted this exchange rush to list the NIGHT token even before its market debut, arguing that it would become the first CNT to receive this kind of attention. Meanwhile, top-tier platforms like Binance, Bybit, and OKX have already listed NIGHT, attracting substantial liquidity to the Midnight ecosystem’s native token.

Last Chance for Eligible NIGHT Airdrop Participants

Notably, those who missed the distribution event can still receive their NIGHT allocation. This, however, is for those who were eligible for the Glacier Drop but didn’t participate.

In subsequent days, Midnight would begin the Lost-and-Found phase, during which this category of participants has a final chance to receive their allocations. However, they will receive only a fraction of their original allocation.