Charles Hoskinson praised the explosive debut of Cardano’s Midnight protocol, whose NIGHT token hit $1 billion in volume—outpacing #XRP on key exchanges like Bybit.#Market_Update
Here’s what’s happening:
*🔥 Midnight’s $1B Debut & Hoskinson’s Reaction*
- *Midnight’s NIGHT token*, part of Cardano’s new privacy-focused sidechain, launched with *over $1 billion in 24-hour volume*, briefly surpassing XRP’s turnover on Bybit .
- *Charles Hoskinson*, Cardano’s founder, called the launch “the most significant event in the project’s history,” highlighting its potential to revolutionize data privacy and compliance.
- The Midnight protocol uses *dual-state architecture* to separate public and private data, enabling secure disclosures to institutions and auditors ⁾.
📉 XRP Slips Behind
- While #ADA surged, *XRP’s price hovered around $2.45*, showing only modest gains amid broader altcoin momentum .
- Analysts noted that *XRP’s ETF narrative* —once a bullish driver—hasn’t translated into immediate volume spikes like ADA’s Midnight launch .
📈 ADA’s Market Momentum
- ADA rallied *10% post-launch*, breaking above key resistance and forming a bullish inverse head-and-shoulders pattern ⁾.
- Futures interest in ADA is nearing *$1 billion*, with over *225,000 new wallets* created this year, signaling strong retail and institutional adoption.
XRP: Who Leads the Bull Run?
- ADA’s smart contract ecosystem and privacy innovations are drawing fresh capital, while XRP’s cross-border payment focus remains steady but less headline-grabbing.
- Both tokens are vying for dominance in the 2025 altcoin season, but *ADA’s recent surge has shifted short-term sentiment in its favor*.
