Hoskinson Disputes CoinMarketCap's Midnight ATH Claim

Cardano founder Charles Hoskinson has disputed CoinMarketCap's claim that the token Midnight hit an all-time high (ATH) of $1.81. Instead, Hoskinson argues that the $1.81 level was a result of the initial price-discovery process during Midnight's launch in December 2025, not a level at which investors could meaningfully buy the token. According to Hoskinson, no one bought Midnight at that price, which he claims is an extreme figure that should not be treated as a genuine market valuation.

Hoskinson compared this situation to a hypothetical $2 trillion valuation reading for Zcash, stating that an extreme figure recorded during a token's launch should not necessarily be treated as a genuine market valuation. This dispute highlights the importance of accurate market data, as the difference between the $1.81 figure and CoinGecko's recorded ATH of $0.1185 affects how the token's historical performance is measured.

Night has continued its recovery following the late-September rally, 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%. The token's latest momentum has coincided with several developments across the Midnight ecosystem, including permissionless smart contract deployment on its mainnet and support for Midnight dApps.