Midnight [$NIGHT] is up more than 10% in the past 24 hours, bringing its 30-day gains to over 115%. The rally comes as the altcoin’s parent chain coin, Cardano [ADA], rallied amid momentum from its fundamentals.
Hence, this is narrative-based buying, as its on-chain activity remains relatively low.
Why is Midnight surging?
Getting into the details, Cardano surged by double digits yesterday, but its ecosystem coins were yet to pick up. However, its momentum from the launch of RealFi and upgrade prospects spilled over to $NIGHT.
