Cardano Founder Says ADA Midnight Project Could Become a $10B Ecosystem

Charles Hoskinson is once again capturing the attention of the Cardano community, this time with discussions surrounding the Midnight project. In a recent podcast appearance, Hoskinson expressed strong conviction that this new privacy-focused ecosystem is poised for significant growth.

He confidently predicted that Midnight's valuation is expected to increase tenfold from its current standing. This is a remarkable assertion, particularly for a token that commenced trading only this week.

NIGHT Token Launches With Strong Early Momentum

The NIGHT token officially commenced trading on December 9, with airdrops distributed to eligible wallets shortly thereafter. According to CoinMarketCap, the circulating supply stands at 16.6 billion tokens, representing approximately 69 percent of the total supply.

Based on this figure, Midnight entered the market with an initial valuation of around $835 million. Trading activity began swiftly, and data from Bybit's spot market indicates that NIGHT reached a high of $0.088 on December 10.

At this peak price point, the market capitalization briefly approached $1.46 billion. This rapid ascent from a conceptual idea to a billion-dollar ecosystem aligns with Hoskinson's earlier observations.

Hoskinson Believes Midnight Is Just Getting Started

Hoskinson's unwavering confidence in the future trajectory of Midnight is particularly noteworthy. He stated that Midnight is not expected to remain solely a Cardano-native token.

Instead, he anticipates it will evolve into "something bigger and beyond," with a long-term value potential reaching $10 billion.

He highlighted the project's swift transition from an abstract concept to a tangible reality, emphasizing that its focus on privacy provides a robust foundation for continued development.

A Potential New Growth Engine for Cardano

Cardano is recognized for its methodical development approach, but Midnight appears to signal a new phase, incorporating privacy solutions, confidentiality in smart contracts, and business-oriented use cases.

The initial investor enthusiasm surrounding NIGHT suggests a shared optimism. Should Midnight achieve the valuation that Hoskinson envisions, it possesses the potential to become a cornerstone of the broader Cardano project, on par in significance with ADA itself.

Currently, the project appears to have experienced an exceptional launch, with expectations already running exceptionally high. Its ability to mature into the projected $10 billion ecosystem will ultimately depend on its capacity to attract users, developers, and widespread adoption. One aspect, however, remains certain: Midnight has arrived, and this narrative is only in its nascent stages.