According to him, institutions may require ways to conduct blockchain transactions without exposing sensitive financial activity on public ledgers.
Midnight Rallies 29% in 24 Hours
The commentary comes as $NIGHT records strong gains. $NIGHT, the native token of Cardano’s sidechain Midnight, climbed from an intraday low of $0.03117 to $0.04334, representing a 39% increase. At press time, $NIGHT traded around $0.04060, up 29.10% over the past 24 hours and 71.36% over the previous week.
Meanwhile, other major privacy-focused cryptocurrencies have posted more modest gains. Zcash and Monero, for example, gained roughly 2% to 5% over the same period, broadly tracking the wider crypto market.
As a result, $NIGHT’s stronger performance appears to be tied more closely to developments and renewed attention surrounding the Midnight ecosystem than to a broad rally across privacy tokens.
Privacy Could Become Important for Institutional Adoption
Rogozinski’s argument focuses on the challenge institutions face when conducting large transactions on fully transparent blockchains.
Although public ledgers provide verifiable transaction records, companies and financial institutions may not want their trading activity, balances, or transaction relationships to remain visible to anyone using a blockchain explorer.
Midnight seeks to address this challenge through privacy-preserving infrastructure that enables selective disclosure while retaining blockchain-based verification.
Furthermore, the Midnight Foundation has established partnerships with major organizations, including Google Cloud and Monument Bank, adding an institutional dimension to its privacy-focused strategy.
Hoskinson Predicts Strong Growth for Midnight
The renewed attention surrounding $NIGHT also follows comments from Cardano founder Charles Hoskinson, who recently forecasted Midnight could be bigger than Zcash.
His optimism is fueled by Midnight’s private smart contracts, selective disclosure, private agents, and DeFi infrastructure designed to support major blockchain networks. He specifically identified 2027 as a potentially significant period for Midnight’s growth.
Meanwhile, Cardano community figure and Crypto Capital Venture founder Dan Gambardello argued that $NIGHT is undervalued by $5 billion. He suggested that the market has yet to value the token alongside established privacy assets such as Zcash and Monero.
According to CoinMarketCap data, $NIGHT currently ranks as the seventh-largest privacy token, with a market cap of $674 million. For context, Zcash, by comparison, has a market cap of roughly $24.33 billion.
