🔥 Cardano price boost as Midnight’s NIGHT token airdrop goes live
Cardano is riding a wave of renewed investor interest following the highly anticipated launch of the Midnight Network’s NIGHT token airdrop.
The toke airdrop, described by many as one of the most ambitious token distributions in the crypto space, has reignited bullish momentum within the Cardano ecosystem.
With strong fundamentals, favourable technical setups, and growing community engagement, ADA may now be on the verge of a significant breakout.
🔸 NIGHT airdrop ignites ecosystem excitement
The Midnight Network, Cardano’s privacy-focused sidechain, officially launched the NIGHT token airdrop — known as the “Glacier Drop” — on August 5.
The drop targets up to 30 million wallets across eight major blockchain ecosystems, including Ethereum, Bitcoin, and Solana.
However, #Cardano wallets received the lion’s share, with 50% of the total allocation reserved for ADA holders.
This strategic move not only reinforces Cardano’s dominance in the airdrop but also rewards long-term supporters.
Over 23,000 redemptions, totalling more than 470 million NIGHT tokens, were processed within the first few days — an early sign of high user engagement.
Despite some technical glitches involving Ledger wallet signatures and destination address issues, the overall process has been praised for its smooth user experience.
🔸 Cardano (ADA) price breakout from descending triangle
While the airdrop has drawn significant attention, the technical charts for Cardano (ADA) have quietly become increasingly bullish.
Technical analysis points to a successful breakout from a long-standing descending triangle, followed by a textbook retest at the $0.72 level.
This level now serves as a critical support zone. Cardano’s ability to hold above it suggests that the rally may be structurally sound.
Currently, #ADA is retesting a key resistance area between $0.74 and $0.76. Multiple analysts agree that a break above this zone could open the door to $0.84, a crucial breakout point.