Cardano Midnight Price Crashes 20%, Is Rally Over?

Cardano privacy token Midnight (NIGHT) has seen its momentum stall after a major surge shortly after its launch in December.

Privacy-linked tokens gained the spotlight late last year, with investors rotating into the segment even as attention centered on Zcash. Midnight also rallied as investors rotated back into privacy-focused assets.

A massive surge in December had seen Midnight token rise to highs of $0.119 on Dec. 21. The price surge also coincided with an explosion in volume, which at one point surpassed $8 billion.

The rally cooled off but somewhat picked up at December’s close. After two green days at the start of 2026, NIGHT began to decline again, marking six days of dropping from Jan. 4 to 9.

Midnight price crashes 20%

At press time, NIGHT was down 5.22% in the last 24 hours to $0.068 and down 20% weekly, according to CoinMarketCap data.

This comes as an outlier, as privacy tokens Monero and Zcash were showing gains in the last 24 hours. In particular, Monero surged to a fresh all-time high on Sunday, surpassing $592, and was up 12% in the last 24 hours and 30% weekly.

Cardano Midnight is seen mirroring the broader trend on the crypto market, which struggled to establish a clear direction in recent weeks, amid thin liquidity and uneven risk appetite.

It might be too early to say that the Midnight token rally has stalled, as it is currently trading in a range between $0.065 and $0.10. Extended range trading typically precedes major moves on the market, with the NIGHT token now watched in this regard.

The Midnight token launched on Dec. 4. According to its roadmap, the first dApps are expected to arrive in Q1, 2026, followed by network expansion in Q2. In Q3, Midnight plans to open the network to other blockchains and introduce hybrid applications, making 2026 a crucial year to watch for the token.