NIGHT Price Jumps 15% as Hoskinson Revives Zcash Comparison

NIGHT price rallied toward $0.037 on Sept. 30 as renewed attention around Midnight’s privacy architecture accompanied another sharp increase in trading activity.

CoinMarketCap showed Midnight’s native token gaining roughly 13%-20% over 24 hours depending on the intraday snapshot. NIGHT had also advanced about 103% over the previous 30 days.

The latest move followed comments from Cardano founder Charles Hoskinson comparing Midnight’s long-term potential to that of Zcash.

NIGHT Price Rallies as Hoskinson Compares Midnight With Zcash

The latest rally follows comments by Cardano founder Charles Hoskinson on Midnight’s position in the privacy-focused blockchain sector. Hoskinson recently argued that Midnight could eventually become bigger than Zcash.

Hoskinson wrote that Midnight combines selective disclosure, private agents and several privacy technologies. These include zero-knowledge proofs, trusted execution environments, and multi-party computation.

He has also described Midnight as capable of doing more than private asset transfers. Users can transfer NIGHT and other assets privately, while developers can also build confidential smart contracts.

That distinction has become a key part of the renewed market interest around NIGHT. Zcash mainly became known for privacy-focused transactions, while Midnight extends privacy features into blockchain applications.

The renewed attention comes after Midnight became an important part of Cardano’s wider ecosystem.

NIGHT Price Extends September Rally

NIGHT traded around $0.0366 to $0.0370 during Wednesday’s session after climbing sharply over the previous 24 hours. According to data, with the bulls in play, the token has gained more than 100% during the past 30 days.

The advance also extends a multi-day rally that pushed NIGHT above its previous September trading range. The token traded near $0.0244 on September 24 before climbing above $0.036 this week.

Market attention increased after analyst David Gokhshtein wrote that NIGHT could follow a path similar to Zcash. He pointed to Midnight’s use of privacy within smart contracts and decentralized applications.

However, those comments represent market expectations rather than confirmed future price performance. NIGHT’s current move follows several consecutive daily gains, which have also increased short-term volatility.

Moreover, as we reported, Midnight has previously influenced trading activity across the wider Cardano ecosystem.

NIGHT Technical Indicators Show Strong Momentum

NIGHT’s daily chart shows price moving above its previous $0.027 to $0.030 consolidation range. The token also reached an intraday high near $0.03845 before easing slightly.

The upper Bollinger Band stands near $0.0329, while the 20-day moving average sits around $0.0245. NIGHT is trading above the upper band, showing strong momentum alongside expanded volatility.

The MACD indicator also remains positive, with the MACD line above its signal line and both readings above zero. The expanding positive histogram shows that bullish momentum strengthened during the latest advance.

Immediate resistance is located around $0.0385 to $0.0400, where NIGHT is testing an earlier supply area. A sustained move above this zone would place $0.042 and $0.045 into focus.

Support sits near $0.0329 and around the recent $0.030-$0.031 breakout zone. However, should bears seize momentum, a move below $0.027-$0.028 would weaken the current short-term breakout structure.

This article is for informational purposes only and does not constitute financial or investment advice. Analyst views and technical targets remain conditional.