Midnight's NIGHT token gains 86% in a week as CTO outlines smart contract upgrades
In brief
- NIGHT rose eight straight days and gained 86% over seven days, U.Today reported.
- NIGHT climbed from a $0.022 low on September 24 to a $0.048 high.
- Zcash, Monero and Cardano all fell over the same 24-hour window.
- Guillemot said v8 enables private contracts, and v9 composability could follow this year.
A rally in a red market
NIGHT started climbing on September 24 from a low of $0.022 and reached a high of $0.048 by press time, according to U.Today's reporting. The outlet put the token at $0.044, up 17.66% over 24 hours. A social media post embedded in the same article cited a 22% jump instead, so the figures don't match exactly.
U.Today attributed the move to capital rotating into privacy-focused crypto. That's the outlet's own interpretation, not an established cause.
The bigger story is what the rest of the market was doing. Most cryptocurrencies were trading lower over the same window, including privacy tokens Zcash and Monero, which fell 5.44% and 1.06% respectively. Cardano itself dropped 3.23%.
NIGHT went the other way.
Guillemot's roadmap
On September 19, Guillemot hinted that smart contract deployment would soon be enabled on Midnight's mainnet, U.Today reported. He said he was excited about private smart contracts, including the ability to mint private custom tokens.
Midnight Node 1.0.3 came out on September 26. Guillemot called it the last main technical release before smart contract deployment is switched on. A Node 1.0.4 update is expected on mainnet shortly (part of preparing for what the report described as an accelerated roadmap).
The order of releases is the key detail. According to Guillemot's posts as reported by U.Today, the v8 release enables private contracts and a composability upgrade (v9) comes after it. He said developers will be able to use v8 to prepare for composability, and he raised the possibility that v9 could arrive this year. That's not a confirmed date, and it shouldn't be read as one.
Hoskinson weighs in
Cardano founder Charles Hoskinson, in a separate post, likened his work on Midnight and Midnight City to the good old days.
The token's eight-day run and Guillemot's roadmap updates happened at the same time. Nothing in the reporting shows that the upgrade news drove the price, and we're not drawing that connection here.
Frequently asked questions
What is the difference between Midnight's v8 and v9 releases?
According to CTO Sebastien Guillemot's posts as reported by U.Today, v8 enables private smart contracts on Midnight. A composability upgrade, v9, comes after it. Guillemot said developers can use v8 to prepare for composability.
When will Midnight's v9 composability upgrade launch?
No date has been confirmed. Guillemot raised the possibility that the v9 composability upgrade could arrive this year, according to U.Today. Before that, a Midnight Node 1.0.4 update is expected on mainnet shortly.
