NIGHT, the native token of the Midnight privacy-focused blockchain network, rallied toward $0.037 on Sept. 30 as renewed attention around Midnight's privacy architecture accompanied another sharp increase in trading activity. The move followed comments from Cardano founder Charles Hoskinson comparing Midnight's long-term potential to that of Zcash. The token is now testing resistance near $0.0385–$0.0400, while technical indicators continue to show strong momentum.

According to CoinMarketCap, Midnight's native token gained roughly 13%–20% over 24 hours depending on the intraday snapshot. The token has also advanced about 103% over the previous 30 days, taking its monthly gain beyond the 100% mark.

Hoskinson Compares Midnight With Zcash

The latest rally follows comments by Charles Hoskinson on Midnight's position in the privacy-focused blockchain sector. Writing on X, the Cardano founder recently argued that Midnight could eventually become bigger than Zcash. His remarks helped renew market attention on the token. Zcash, which launched in 2016, is among the longest-running privacy-focused cryptocurrencies and has often served as the sector's reference point, giving the comparison particular weight in market commentary.

Hoskinson wrote that Midnight combines selective disclosure, private agents, and several privacy technologies. These include zero-knowledge proofs, trusted execution environments, and multi-party computation. Zero-knowledge proofs make it possible to verify a statement without exposing the data behind it, trusted execution environments process sensitive information in isolated hardware, and multi-party computation lets separate parties jointly compute a result without revealing their individual inputs. Selective disclosure, meanwhile, refers to designs that let users share only specific pieces of information rather than full records.

He has also described Midnight as capable of doing more than private asset transfers. Users can transfer NIGHT and other assets privately, while developers can also build confidential smart contracts. That distinction has become a key part of the renewed market interest around NIGHT. Zcash mainly became known for privacy-focused transactions, while Midnight extends privacy features into blockchain applications. The difference is notable because most public blockchains record transaction and contract activity in transparent form, so application-level privacy is aimed at protecting data inside software, not only payments.

The renewed attention comes after Midnight became an important part of Cardano's wider ecosystem. The network is developed by Input Output, the company behind Card, placing it within the ecosystem Hoskinson co-founded.

NIGHT Extends September Rally

NIGHT traded around $0.0366 to $0.0370 during Wednesday's session after climbing sharply over the previous 24 hours. The token has gained more than 100% during the past 30 days.

The advance also extends a multi-day rally that pushed NIGHT above its previous September trading range. The token traded near $0.0244 on September 24 before climbing above $0.036 this week.

Market attention increased after analyst David Gokhshtein wrote on X that NIGHT could follow a path similar to Zcash. He pointed to Midnight's use of privacy within smart contracts and decentralized applications. However, those comments represent market expectations rather than confirmed future price performance.

NIGHT's current move follows several consecutive daily gains, which have also increased short-term volatility. As previously reported, Midnight has also influenced trading activity across the wider Cardano ecosystem.

Technical Indicators Show Strong Momentum

NIGHT's daily chart shows price moving above its previous $0.027 to $0.030 consolidation range. The token also reached an intraday high near $0.03845 before easing slightly.

The upper Bollinger Band stands near $0.0329, while the 20-day moving average sits around $0.0245. NIGHT is trading above the upper band, showing strong momentum alongside expanded volatility.

The MACD indicator also remains positive, with the MACD line above its signal line and both readings above zero. The expanding positive histogram shows that bullish momentum strengthened during the latest advance.

Immediate resistance is located around $0.0385 to $0.0400, where NIGHT is testing an earlier supply area. A sustained move above this zone would place $0.042 and $0.045 into focus. Support sits near $0.0329 and around the recent $0.030–$0.031 breakout zone. However, should sellers take control, a move below $0.027–$0.028 would weaken the current short-term breakout structure. How price behaves around the $0.0385–$0.0400 zone, and whether momentum readings hold, are the near-term reference points for traders tracking the move.

---

This article is for informational purposes only and does not constitute financial or investment advice. Analyst views and technical targets remain conditional.

Source: The Market Periodical