Midnight Surges Amid Coinbase Integration and Monument Bank Tokenization Plans
Midnight (NIGHT) has seen a modest price increase of 5.36% over the past five days, driven primarily by adoption and narrative factors rather than tokenomics or on-chain events.
The primary catalyst for this move is Coinbase's recent launch of a fixed-rate, fixed-term bitcoin-backed USDC loan product on Morpho's Midnight engine on Base.
This integration positions Midnight as real financial infrastructure for BTC lending at scale, not just a speculative privacy token, and marks Coinbase's first mainstream adoption of Midnight's fixed-income layer.
Additionally, Monument Bank plans to tokenize up to £250M of retail deposits on Midnight, connecting privacy-preserving infrastructure with a regulated banking stack.
These developments have contributed to renewed buying and attention in Midnight (NIGHT), with some investors rotating into the asset due to its relative value compared to older privacy coins like Zcash.