Midnight Cryptocurrency Surges 86% as Smart Contract Upgrade Looms

The Midnight cryptocurrency, NIGHT, has been on a tear, rising 86% over the last seven days and extending its winning streak to eight consecutive days. This impressive rally has put NIGHT among the notable performers in the broader crypto market, with buyers maintaining momentum despite a wider selloff that saw most cryptocurrencies trading in the red.

Midnight, a privacy-focused blockchain project linked to Cardano, has been gaining traction, with its native cryptocurrency NIGHT rising to a high of $0.048 at press time. The project's CTO, Sebastien Guillemot, recently shared some good news on the coming Midnight release and follow-up composability upgrade, which has contributed to the surge in interest and price.

Guillemot hinted that smart contract deployment was soon going to be enabled on the Midnight mainnet, with the v8 release enabling private contracts and the v9 release focusing on composability. The possibility of the composability upgrade occurring this year has generated excitement among developers and investors, with Midnight's v8 release seen as a crucial step towards enabling private smart contracts.