Midnight's NIGHT weathers 12% OI drop as spot buyers fuel accumulation

On 20 December, Midnight's NIGHT token saw investor addresses dip to 6,110 before rebounding to 6,500, while market cap rose by $430 million but eased to $1.52 billion from $1.94 billion. Over the past 24 hours, trading volume slid 50% to $3.97 billion and derivatives Open Interest fell 12% to about $106 million, even as spot buyers spent $3.24 million on 23 December and $301 million across five days, supporting a still bullish, accumulation-driven outlook.