The broader crypto markets are bracing for price fluctuations on Friday evening, as the expanding Bollinger Bands on the one-hour charts suggest for most major-cap altcoins. Cardano (ADA) is among the most talked-about crypto currencies over the past few weeks due to the Midnight chain upgrade, launching an accompanying token with the ticker symbol NIGHT.
Cardano Chief Praises Midnight Post 200% Uptick
This has been deemed an “incredible success” by Cardano’s (ADA) founder Charles Hoskinson, who proudly shared a celebratory message on X. He dubbed Midnight (NIGHT) the first fourth-generation crypto currency, settling in to bring a new era into crypto. Not everyone took the message lightly, with some criticizing the lack of stablecoin liquidity on both chains.
Concerning the rugs, it feels the same way when Coinbase’s Base L2 chain started. Cyber-criminals were quick to take advantage of inexperienced customers on the fresh chain for the first couple of days, resulting in grandiose rug pulls. Despite a few setbacks, Midnight chain’s native token saw a stupendous rally, whipping up beyond 200% gains to hit $0.084 on December 10, 2025.
Midnight: Just Like Monero, But No Legal Scrutiny
The fresh altcoin has backtracked to the $0.06 territory as of now, mostly due to early investors taking profits. Midnight, the side chain of Cardano (ADA) Layer-1, is focused on a useful mix of compliance & rational privacy. This way, Web3 users can verify facts about certain data via the Zero Knowledge mechanism (ZK-SNARKs) without revealing any personal information.
The concealing of sensitive information classifies this ADA sidechain as a privacy chain, but it’s slightly different from the typical privacy go-tos like Monero (XMR) or ZCash (ZEC). Those two leave no trace at all on the registry, which is hardly compatible with highly-regulated sections like the health care system, legal databases, food industry records & many other regulated fields.
Cardano’s Near-Term Price Bounce Yet To Take Off
For Cardano (ADA), the price trajectory this month was less bullish, to say the least. Kicking off the month at $0.41, the OG altcoin now trades at just above $0.37. That’s nearly a 60% drop from the $0.82 quarterly heights hit on October 10, 2025. If ADA tacks on Midnight’s (NIGHT) potential, it’s likely to witness a bounce from $0.37 to the mid-tier BOLL band at $0.42.
However, only a breakthrough past the red-label Bollinger Band (BOLL) at $0.47 would imply that Cardano’s (ADA) bulls regained territory for a longer period of time. With the markets still wobbly, high price correlation with Bitcoin (BTC) could magnify or put extra hurdles in Cardano’s Midnight-infused rebound race.
As of press time, the top asset stood above $88K with profit-taking still abundant. The Chaikin Money Flow (CMF) was hovering around red figures in most popular centralized exchanges (CEXs), as the market continued to soak in fear, now hitting ‘extreme’ levels of 16, according to the Crypto Fear & Greed Index.
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Hoskinson called the NIGHT token launch an “incredible success,” praising how well the ecosystem is developing and holding up under heavy activity, positioning Midnight as the first true 4th-generation cryptocurrency.
The launch drove NIGHT past $1B market cap and over $1B in 24-hour trading volume shortly after debut, cracking the top 10 most traded coins while boosting Cardano transactions & redirecting capital to the ecosystem.
NIGHT achieved top-10 trading volume status, sustained high liquidity (volume often exceeding market cap), processed millions of blocks and hundreds of thousands of transactions with stable 6-second block times, and integrated into over 133,000 Cardano transactions rapidly.
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