Cardano’s ADA Forecasted to Increase by 11% Before NIGHT Airdrop

The price of Cardano (ADA) has shown an increase of 11% over the past week in anticipation of the Midnight airdrop’s redemption phase. This redemption phase, scheduled to begin soon and last for 450 days, will allow participants to claim their NIGHT tokens.

Midnight is described as a privacy-focused blockchain that will enhance the Cardano ecosystem by enabling zero-knowledge transactions. Operating as a layer-2 side chain, Midnight’s main objective is to expand the usability of the mainnet.

The NIGHT airdrop was available to millions of investors who held more than $100 worth of tokens such as ETH, BTC, and XRP, among others. So far, a total of 3.5 billion NIGHT tokens have been claimed, representing 14% of the total token supply.

Privacy tokens have shown significant growth this year, with Zcash (ZEC) leading the way with an impressive 630% annual return. By utilizing the speed and scalability of the Cardano blockchain, NIGHT aims to provide the crypto community with an anonymous transaction alternative to tokens like ZEC or Monero (XMR).

This project could play a pivotal role in accelerating Cardano’s ecosystem growth at a time when other competitors have found success in various niches. For instance, Solana has embraced meme coins, while BNB Chain offers low-fee token transfers in and out of Binance.

In terms of price prediction, Cardano has seen a breakout from a falling wedge pattern, potentially signaling an upward trend with a target of $0.90. With trading volumes on the rise and optimistic market indicators, ADA could aim for the $0.90 price point in the coming weeks.

Additionally, Bitcoin Hyper ($HYPER) is on the horizon, aiming to revolutionize the Bitcoin network by introducing a Solana-powered layer-2 solution. This innovative approach could set the stage for faster, more cost-effective, and scalable transactions on the Bitcoin blockchain, opening up new possibilities for DeFi, meme coins, and payment platforms within the BTCFi space.

In conclusion, the imminent launch of Midnight’s NIGHT airdrop and Bitcoin Hyper’s innovative L2 solution represent exciting developments within the crypto space, offering new opportunities for growth, efficiency, and usability in the evolving digital asset landscape.