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Charles Hoskinson, the founder of Cardano, has continued to express his belief that the Midnight project will be a massive success.
Speaking in a recent podcast, Hoskinson projected that Midnight would expand well beyond its current valuation. He predicted a 10x increase in the ecosystem’s worth, noting it would be “something bigger and beyond” in the near future.
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.
Midnight Launch AAR https://t.co/bB8cIyroqy
— Charles Hoskinson (@IOHK_Charles) December 10, 2025
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.