Midnight Token Surges as V8 Upgrade Nears
The token of Cardano's privacy chain, Midnight (NIGHT), has nearly doubled in price over the past week. According to CoinGecko, NIGHT traded at around $0.049 on October 4, 2026, marking a gain of approximately 91% over seven days and 125% over 30 days.
This surge in value is largely attributed to the upcoming launch of smart contracts on Midnight, as announced by CTO Sebastien Guillemot. The v8 upgrade will enable developers to create private contracts and issue their own tokens on the platform.
NIGHT has been trading since December 2025, with a record high of $0.1185 reached on December 9 of that year. The token's price is now above its 200-day moving average for the first time in months, but remains volatile and susceptible to significant fluctuations.