Cardano Founder Reacts as Zcash (ZEC) Skyrockets Past $10 Billion Valuation
**Cardano Co-Founder Charles Hoskinson Comments on Zcash’s Stunning Surge**
Cardano co-founder Charles Hoskinson has weighed in on the remarkable surge of Zcash (ZEC), a leading privacy-focused cryptocurrency. According to CoinMarketCap, ZEC’s price skyrocketed from just $40.42 on September 1 to $619 at the time of publication. This represents an astonishing 1,431% increase in just two months.
Since early September, ZEC’s price rally has captured the attention of the crypto industry, sparking widespread conversations about the future potential of privacy coins.
### ZEC Market Performance
ZEC currently boasts a market capitalization of $10.17 billion, ranking it 13th globally. Recent price movements show a gain of 21.45% in the last 24 hours, 63.91% over the past week, and an impressive 365.4% increase in the last month alone.
### Hoskinson’s One-Word Message: “Midnight :)”
Hoskinson highlighted the Zcash rally by retweeting a post from X user Rashid bin Saeed, who advised traders: “Don’t fade privacy coins.” Hoskinson added a cryptic but meaningful comment: “Midnight :)”
This comment references Cardano’s upcoming zero-knowledge (ZK) sidechain named **Midnight**, which is designed to incorporate enhanced privacy and scalability features within the Cardano ecosystem. Hoskinson’s remark suggests a comparison between Zcash’s recent success and the potential he sees in Cardano once Midnight launches.
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### Midnight Project: Cardano’s Bet on Privacy and Zero-Knowledge Technology
The Midnight project represents one of Cardano’s most ambitious initiatives. Currently in its testnet phase, Midnight’s NIGHT token airdrop has already attracted millions of users across seven different blockchains, demonstrating significant community engagement.
In a recent development, the Midnight Foundation announced a strategic partnership with Google Cloud to advance zero-knowledge proof (ZKP) technology and promote wider industry adoption. The project has also formed collaborations with over 80 developers and enterprises, including notable names such as Maestro, Sundae Labs, Fluid Tokens, and OpenZeppelin.
Hoskinson envisions Midnight transforming Cardano into a leader in blockchain privacy, potentially matching the market enthusiasm currently associated with Zcash.
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### Cardano’s Market Challenges Persist
Despite growing excitement around Midnight, Cardano’s native token ADA continues to face challenges. As of the latest data, ADA trades at $0.5470, marking a 2% gain in the last 24 hours but still down more than 33% over the past month. The token remains more than 50% below its yearly highs.
For years, Cardano’s market performance has lagged behind competitors such as Solana, Tron, and BNB Chain. Analysts often describe it as a “ghost chain” due to its low total value locked (TVL) and a limited stablecoin supply currently hovering near $30 million.
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### Hoskinson’s Outlook on Midnight and Cardano’s Future
Hoskinson remains optimistic that Midnight could reshape Cardano’s reputation. By introducing advanced privacy tools and scalable ZK technology, Midnight might attract developers and capital back to the ecosystem.
He believes the project could generate billions in new activity and enhance ADA’s long-term value. While whether Midnight will replicate Zcash’s success remains uncertain, Hoskinson’s confidence indicates that Cardano is preparing for a pivotal phase in its evolution.
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**Disclaimer:**
This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s official position. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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**About the Author**
*Zabi* is a crypto enthusiast with over 10 years of experience managing Google News-approved finance websites. With a strong background in finance and a deep understanding of cryptocurrencies, Zabi is passionate about crypto writing and market analysis. In addition to writing, Zabi manages personal stock and finance-related platforms approved by Google News.
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Stay tuned for more updates and analysis on the evolving cryptocurrency market.
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