Hoskinson Disputes CoinMarketCap's Midnight ATH Claim
Cardano founder Charles Hoskinson has disputed CoinMarketCap's claim that Midnight's token, NIGHT, hit an all-time high (ATH) of $1.81, arguing that the token never genuinely traded at that level. According to Hoskinson, NIGHT hit $1.81 at launch in December 2025, but it did not represent a level at which investors could meaningfully buy the token. He stated that the figure resulted from the initial price-discovery process rather than sustained market trading.
Hoskinson compared the situation to a hypothetical $2 trillion valuation reading for Zcash, arguing that an extreme figure recorded during a token's launch should not necessarily be treated as a genuine market valuation.
CoinMarketCap and CoinGecko, two popular cryptocurrency tracking platforms, record different ATHs for NIGHT. CoinMarketCap lists $1.81 as NIGHT's ATH, while CoinGecko records a substantially lower peak of $0.1185. The difference between the figures significantly affects how the token's historical performance is measured.
NIGHT has continued its recovery following the late-September rally, recently climbing above $0.05 and reaching a multi-month high of $0.05257 before retracing toward $0.05. CoinMarketCap ranked NIGHT as the strongest gainer among the top 100 cryptocurrencies over a 24-hour period, with gains exceeding 24%.