Cardano Founder Shades XRP And Solana, What’s Going On?

bitcoinistPublished on 2025-12-22Last updated on 2025-12-22

Abstract

In a recent development, Cardano founder Charles Hoskinson highlighted the Midnight (NIGHT) token's trading volume surge, which reportedly exceeded the combined daily trading volumes of XRP and Solana. According to data, NIGHT recorded over $6 billion in daily volume, compared to $2.4 billion for XRP and $2.07 billion for Solana. The Midnight token, a privacy-focused sidechain of Cardano, initially crashed over 90% after its airdrop but has since rebounded strongly, rising over 30% in 24 hours and 44% weekly. Its launch reignited interest in the Cardano network, generating over 122,000 transactions. Despite this, Cardano itself remains in 10th place by market cap, with a daily trading volume of $405 million, while XRP and Solana hold 5th and 7th positions respectively.

Over the last few years, Cardano has fallen into the background when it comes to decentralized finance (DeFi) participation as the likes of Solana and XRP ramped up. Solana triggered the meme coin wave that swept the market for two years, and XRP continued to push into institutional adoption with deals and partnerships, as well as regulatory compliance, while Cardano lagged behind. That is, until recently, that an anticipated launch changed the tide in favor of Cardano.

The Midnight (NIGHT) Token Launch That Changed Everything

Earlier this month, a new token rocked the crypto sphere as the Midnight (NIGHT) went live with its airdrop. At first, the token looked to be off to a slow start, crashing by over 90% from its launch $1.81 all-time high to reach below $0.025. This had made widespread news as airdrop claimers rushed to dump their tokens.

However, what seemed like a dead drop has begun to change, with the Midnight (NIGHT) token moving fast and taking the Cardano network along for the ride. As Bitcoinist reported, the token launch had essentially reignited interest in the Cardano blockchain, leading to over 122,000 transactions containing NIGHT tokens.

Midnight, which is a side chain of the Cardano network, focuses on investor privacy, leveraging the recent privacy narrative that has taken hold in the crypto market. With a large number of airdrop claimers having collected their tokens, and presumably sold, the token has begun to recover.

On Sunday, market reports showed that Midnight (NIGHT) was one of the best-performing altcoins in the market, rising over 30% in a 24-hour period. On the weekly chart, it showed a 44% increase, as its market cap rose above $1.5 billion again. However, that is not the thing that caught the Cardano founder’s eye.

Cardano Founder Trolls XRP And Solana With Midnight (NIGHT)

With the Midnight (NIGHT) token price soaring, there was a major spike in its trading volume, enough to catch the attention of Cardano founder Charles Hoskinson. Stakepool had taken to X (formerly Twitter) to share with the community that the Midnight (NIGHT) token had secured more trading volume than Solana and XRP combined.

Responding to this post, the Cardano founder pointed out that Midnight (NIGHT) was a native token of the blockchain and has managed more trading volume than both XRP and Solana combined. This is backed by data from CoinMarketCap, which shows Midnight (NIGHT) with a daily trading volume of over $6 billion, compared to $2.4 billion for XRP and $2.078 billion for Solana in the same time period.

However, Cardan itself continues to struggle, with $405 million in daily trading volume for the same time period. XRP and Solana are the 5th and 7th-largest cryptocurrencies in the market, with Cardano at 10th place, and Midnight (NIGHT) at 46th position.

NIGHT price holds gains from Sunday | Source: NIGHTUSDT on Tradingview.com

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Related Questions

QWhat recent event changed the tide in favor of Cardano after it lagged behind Solana and XRP?

AThe launch of the Midnight (NIGHT) token, a side chain of the Cardano network, which reignited interest in the Cardano blockchain.

QHow did the Midnight (NIGHT) token perform immediately after its airdrop, and what was the market reaction?

AIt crashed by over 90% from its all-time high of $1.81 to below $0.025, leading to widespread news as airdrop claimers rushed to dump their tokens.

QWhat key feature of the Midnight blockchain is highlighted in the article as leveraging a current crypto market trend?

AIt focuses on investor privacy, leveraging the recent privacy narrative that has taken hold in the crypto market.

QAccording to the article, how did the daily trading volume of Midnight (NIGHT) compare to that of XRP and Solana combined?

AMidnight (NIGHT) had a daily trading volume of over $6 billion, which was more than the combined $2.4 billion for XRP and $2.078 billion for Solana.

QWhat was Cardano founder Charles Hoskinson's response to the trading volume achievement of the Midnight token?

AHe pointed out on X (formerly Twitter) that Midnight, a native token of the blockchain, had managed more trading volume than both XRP and Solana combined.

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