Zcash Surges 1,431% — Could Cardano’s Midnight Project Follow Suit?

Sean Williams
Zcash

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  • Zcash surged 1,431%, highlighting market appetite for privacy coins.
  • Cardano’s Midnight sidechain targets privacy and scalability with ZK technology.
  • Hoskinson believes Midnight could attract developers and billions in activity, boosting ADA’s value.

Cardano co-founder Charles Hoskinson has spotlighted the meteoric rise of Zcash (ZEC), drawing parallels with his own blockchain’s privacy ambitions. ZEC skyrocketed from $40.42 on September 1 to $619, marking a staggering 1,431% increase in just two months and signaling renewed interest in privacy-focused cryptocurrencies.

Hoskinson’s brief but pointed comment, “Midnight :)”, refers to Cardano’s upcoming zero-knowledge (ZK) sidechain, Midnight, highlighting his vision for the platform’s future.

Midnight: Cardano’s Privacy Bet

The Midnight project represents Cardano’s most ambitious push into privacy and scalability. Currently in its testnet phase, Midnight’s NIGHT token airdrop has already drawn millions of participants across seven blockchains.

In addition, the Midnight Foundation has partnered with Google Cloud to advance zero-knowledge proof (ZKP) technology, alongside collaborations with over 80 developers and companies including Maestro, Sundae Labs, Fluid Tokens, and OpenZeppelin. Hoskinson sees this as a pivotal moment for Cardano, potentially positioning the platform as a privacy leader comparable to Zcash’s market excitement.

Cardano’s Current Challenges

Despite the buzz around Midnight, Cardano’s native token ADA continues to underperform. Trading at $0.5470, ADA has slipped more than 33% over the past month and remains over 50% below its yearly highs. Analysts often label Cardano a “ghost chain,” citing low total value locked (TVL) and a modest stablecoin supply near $30 million.

While Zcash thrives on privacy-focused adoption, ADA’s stagnant performance underscores the challenge Cardano faces in translating technical innovation into market momentum.

Also Read: Zcash (ZEC) Price Surges 360% in 30 Days as Analysts Predict $750 Target Ahead

Hoskinson’s Optimistic Outlook

Hoskinson remains confident that Midnight can reinvigorate Cardano. By providing advanced privacy tools and scalable ZK technology, the project could attract developers, capital, and renewed market interest, potentially generating billions in activity and boosting ADA’s long-term value.

Ultimately, the success of Midnight will determine whether Cardano can mirror Zcash’s explosive growth—but Hoskinson’s vision signals a major strategic shift for the blockchain.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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