Midnight Token Surges 91% Ahead of Smart Contract Launch

The token of Cardano's privacy chain, Midnight (NIGHT), has nearly doubled in value over the past week, reaching its highest level in six months. This surge is attributed to the upcoming launch of smart contracts on the Midnight network, which was announced by Midnight CTO Sebastien Guillemot. According to Guillemot, the v8 upgrade will enable developers to create private contracts and issue private tokens of their own. This development has sparked significant interest in the Midnight token, with its price increasing by 91% over the past seven days.

Midnight's price has also recovered from a significant drop in July, when around 515 million NIGHT tokens were stolen through a flaw in the bridge between Cardano and BNB Chain. The token's price has more than tripled since then, reaching $0.049 on October 4, 2026, according to CoinGecko. However, the price is still below its record high of $0.1185, which was reached in December 2025.

For Cardano holders who received NIGHT tokens from the Glacier Drop, it is essential to collect their tranches before the deadline on December 4, 2026. The thawing of the tranches can bring additional supply to the market, which may impact the token's price. Midnight holders should also be aware of the potential risks associated with the token's price volatility.