Cardano (ADA) fell approx. 3% over the last 24 hours as part of a continued crypto market sale since the end of last week. It was Recenlty trade with $ 0.72.
ADA witnessed significant volatility during the period and showed a 3.47% fluctuation from the session low at $ 0.734 to the high of $ 0.760, according to Coindesk Research’s technical analysis model.
The digital asset rose from $ 0.745 to as high as $ 0.760 strengthened by increased trading activity before fulfilling resistance and retiring to $ 0.735 with a volume of 59.03 million.
It rebounded to $ 0.755 before it confronted additional sales interest, and eventually settled at $ 0.739, suggesting that Bearish forces can continue when ADA struggles to maintain stability over the critical $ 0.740 threshold.
The total crypto market, measured by the Coindesk 20 index, is down approx. 1.7%, slightly smaller than ada. Bitcoin (BTC) is about the same percentage lower.
Earlier today, Midnight — a privacy-focused blockchain began on Cardano-At distributing his night-token through an air drop called the glacier drop. Wallets tied to XRP addresses received approx. 2.62 billion tokens, approx. 11% of the total allocation. The remaining tokens are earmarked for holders of ether (ETH), sun (sun), binance coin (BNB), Avalanche’s Avax (Avax) and Basic Areat Token (BAT).
In a recent conversation, Cardano founder Charles Hoskinson said Midnight Project has drawn interest from major financial companies.
“We have met all the big guys,” he said, claiming that some were fascinated by the potential of anonymous crypto trade on the platform.
Separately, Cardano’s core development group, Input Output Global (IOG), received approval Monday for a Treasury proposal of $ 71 million to finance 12 months upgrade to the Cardano network. The voting on the chain pulled a review from some members of the community who raised concerns about transparency and how the funds will be used.
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