Hoskinson Challenges Midnight's NIGHT Token All-Time High Price

Charles Hoskinson, founder of Cardano, has disputed the reported all-time high price of Midnight's NIGHT token, which CoinMarketCap lists as $1.81. According to Hoskinson, this figure came from the initial price-discovery process during the token's launch in December 2025, not from sustained market trading.

Hoskinson made the claim on X, saying that no one actually bought the token at that price during its launch. He compared it to a hypothetical situation where Zcash showed a $2 trillion value, stating that extreme numbers seen during a launch should not be treated as real market values.

CoinGecko data shows a much lower peak of $0.1185, which changes the story of NIGHT's price fall. If the $1.81 figure is used, the token appears to have fallen by more than 97.2% from its highest point. Using CoinGecko's $0.1185 peak puts the fall at roughly 57.8%.

NIGHT has recently recovered, climbing above $0.05 and reaching $0.05257, after Midnight launched permissionless smart contract deployment on its mainnet.