In an earlier update, CNF detailed the official launch of Cardano’s Midnight (NIGHT) token, which marked the initial step towards introducing privacy features that are lacking in competing ecosystems. In a December 10 after-action review, Cardano co-founder Charles Hoskinson provided updates on the progress and other developments in the pipeline.
In a video examined by CNF, Hoskinson disclosed that this is the first multi-billion-dollar asset project launched by Cardano and instantly got listed on tier-1 exchanges.
According to the Cardano co-founder, this project has had an immediate impact on the ecosystem, as Decentralized Exchange (DEX) volumes, stablecoin inflows, and overall liquidity have increased drastically. Apart from this, he believes that the successful launch of Midnight demonstrates the capacity of Cardano’s infrastructure to support major ecosystem projects.
Meanwhile, he hinted that plans are underway to work with about 10 to 15 Cardano Decentralized Applications (DApps) to integrate Midnight and boost the Total Value Locked (TVL), transaction volumes, and the Monthly Active Users (MAUs). In the long term, he expects Midnight to grow to $10 billion.
NIGHT, the native token of the project, debuted with an unrealistic spike to about $150. However, there was a massive nosedive that saw the price crash down to $0.02. At the time of writing, NIGHT was trading at $0.05 and seemed to have stabilized between this level and $0.15. According to Hoskinson, this could be considered a healthy range.
Explaining the price behavior in his after-action review, he noted that the fall was caused by a massive sell-off by people who had no material connection to the token. He also stated that this is mostly normal during exchange distribution.
Regardless, Hoskinson believes that the market could bounce back stronger since trading would begin in Japan in January 2026. Per his observation, Japan has historically been Cardano’s strongest market. Additionally, the mainnet launch for Midnight would begin soon, which could also impact the price.
On top of these, Hoskinson disclosed that several exchange listings should be expected in the next 60 days, and this would include top US and international platforms.
In the video, he also confirmed that a major roadmap workshop has been scheduled for January. After this, there would be a full public roadmap, which would be revealed in Hong Kong alongside top-tier partners. In 6 to 8 weeks, there will be an activation of a new hybrid chain’s capabilities by Midnight. Hoskinson explained that this would enable cross-chain ecosystem apps.
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