The anticipation for Cardano's Midnight airdrop continues to grow. The total number of tokens to be distributed is 24 billion NIGHT tokens, of which 50% will be allocated to ADA holders at a conversion rate of 1 ADA to 0.34 NIGHT. It is one of the most anticipated token launches of the year, as over a million wallets qualify to receive it.
Along with the airdrop, the Cardano community voted for a treasury fund of $71 million that will be used to improve the network. This budget will be allocated to improvements in transaction capacity, cross-chain compatibility, and infrastructure for developers.
According to Santiment, market data indicates growing interest. The recovery of open interest to $215 million shows that traders are opening new positions or re-entering existing ones. The dominance of ADA in online discussions has increased to 1.65%, according to market data. Upcoming major events have attracted more investors to this asset.
When both market activity and visibility increase, markets tend to react quickly. If ADA breaks through resistance during this phase, it could generate strong follow-through from traders and investors.
In summary, Cardano is approaching a significant price range, which could determine its next move. A successful breakout above $0.93 could trigger a significant price movement that could reach $1.15 or extend to $4 over time. With the growing community involvement, the expansion of eligibility for airdrops, and the allocation of funds for upgrades, ADA is now on the verge of a possible trend change.