NIGHT, the native cryptocurrency of Cardano-linked privacy-focused blockchain project Midnight, is extending an impressive rally, rising for eight consecutive days and gaining 86% over the last seven days.
NIGHT began to rise on September 24 from a low of $0.022, recording seven straight days of gains, with today set to mark the eighth. Wednesday and Thursday's price increases stand out, with NIGHT posting large green candlesticks and reaching a high of $0.048 at press time.
Midnight is up 17.66% in the last 24 hours to $0.044 as capital rotates into the privacy-focused crypto sector.
The sustained advance 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, including privacy tokens Zcash and Monero, which were down 5.44% and 1.06% in the last 24 hours. Cardano was down 3.23% in this timeframe.
Midnight eyes smart contract rollout
The rally comes as Midnight moves deeper into its smart-contract rollout. In a recent post, Midnight Foundation CTO Sebastien Guillemot shared some good news on the coming Midnight release and follow-up composability upgrade.
On September 19, Guillemot hinted that smart contract deployment was soon going to be enabled on the Midnight mainnet. He expressed excitement about private smart contracts, which included the ability to mint private custom tokens.
Along these lines, Midnight Node 1.0.3 was released on September 26, which Guillemot noted was the last main technical release before smart contract deployment was enabled.
The Midnight CTO noted that Midnight's v8 release enables private contracts, with composability (v9) coming after. Guillemot highlighted the possibility of the composability upgrade (v9) occurring this year.
Guillemot noted that developers will be able to use the upcoming smart contract deployment release (v8) to prepare for composability and hit the ground running when it arrives. As part of preparing for this accelerated roadmap, a Midnight Node 1.0.4 update will arrive shortly on the mainnet.
In a separate post, Cardano founder Charles Hoskinson likened his work on Midnight and Midnight City to the good old days but 'with a lot more wisdom and superintelligence in his pocket.'
