NIGHT, the native token of Cardano-linked privacy blockchain Midnight, has gained 86% over seven days as its CTO detailed a coming smart contract rollout. The token climbed for an eighth straight day even as Cardano and other major cryptocurrencies traded lower.
NIGHT has risen for eight consecutive days, gaining 86% over the last seven days. The token began climbing on September 24 from a low of $0.022, and Wednesday and Thursday's gains pushed it to a high of $0.048 at press time.
NIGHT climbs as rivals fall
Midnight is up 17.66% in the last 24 hours to $0.044 as capital rotates into the privacy-focused crypto sector. The advance stands out against a wider selloff: Zcash fell 5.44% and Monero dropped 1.06% over the same 24 hours, while Cardano was down 3.23%.
Midnight eyes smart contract rollout
The rally comes as Midnight moves deeper into its smart contract rollout. Midnight Foundation CTO Sebastien Guillemot hinted on September 19 that smart contract deployment was soon going to be enabled on the Midnight mainnet, expressing excitement about private smart contracts that would include the ability to mint private custom tokens.
Guillemot noted that Midnight Node 1.0.3, released on September 26, was the last main technical release before smart contract deployment was enabled. He said Midnight's v8 release enables private contracts, with a composability upgrade (v9) coming after, and he highlighted the possibility of v9 arriving this year.
Developers will be able to use the upcoming v8 deployment to prepare for composability and move quickly once it arrives, according to Guillemot. As part of this accelerated roadmap, a Midnight Node 1.0.4 update will arrive shortly on the mainnet.
In a separate post, Cardano founder Charles Hoskinson likened his work on Midnight and Midnight City to the project's early days, saying his approach now comes "with a lot more wisdom and superintelligence in his pocket."
Source: U.Today
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