Cardano price analysis as Charles Hoskinson hails Midnight launch

Cardano price held steady, reaching its highest point since November 19 as the crypto market rebounded. ADA jumped to a high of $0.4647, up by 25% from its lowest point this year. It also rebounded as Cardano launched Midnight, its zero-knowledge privacy network.

Charles Hoskinson hails Cardano Midnight launch

Cardano price remained in an upbeat tone this week, mostly because of the ongoing crypto market rally. Bitcoin has jumped to over $92,000, while the market capitalization of all tokens has jumped to over $3.1 trillion.

The coin also jumped as Cardano unveiled Midnight, a privacy-focused sidechain that balances confidentiality with regulatory compliance. In a statement after the launch, Hoskinson called it the biggest event in Cardano’s history. He said:

“Midnight is the fastest-growing project we have ever built because it is much needed. People are starting to realize that privacy is not a guarantee and is not given. It is nice to have some tools to ensure privacy in the blockchain space.”