Cardano Founder Hoskinson Says Midnight Will Surpass Zcash, Urges Gemini to List ADA

Cardano Founder Hoskinson Says Midnight Will Surpass Zcash, Urges Gemini to List ADA

Development Progress

Cardano founder Charles Hoskinson has made several predictions about the future of the Midnight network, which he believes will eventually surpass Zcash in size. Despite the significant gap between the two networks' market capitalizations, Hoskinson is confident in Midnight's potential. He cited the network's selective disclosure feature, private agents, and DeFi layer as key advantages.

Market Capitalization Gap

The gap between Midnight's NIGHT token and Zcash's ZEC token remains wide, with NIGHT having a market capitalization of near $774 million compared to ZEC's $20 billion range. However, Hoskinson is urging Gemini to list ADA, citing the potential revenue loss the exchange has incurred by not listing the token.

ADA Listing and Development

Hoskinson has been pressing Gemini to list ADA since October 6, when he replied to a bullish note from Weiss Crypto. The exchange currently supports Solana, Avalanche, Polkadot, Cosmos, and Tezos, but not ADA. Hoskinson has estimated the omission cost the exchange about $70 million in revenue over five years.

Community Engagement

At TOKEN2049 Singapore in early October, Hoskinson answered community members who questioned whether spinning out Midnight hurt ADA holders. He listed recent deliverables, including RealFi's mainnet launch on October 1, Midnight's network launch earlier this year, and integration work involving USDCx, Pyth, LayerZero, and Fireblocks.