Cardano founder Charles Hoskinson has unveiled plans for a token airdrop that goals to bridge fragmentation within the cryptocurrency ecosystem. Talking at Consensus 2025 in Toronto, Hoskinson detailed the upcoming Glacier Drop, an initiative designed to distribute tokens throughout eight blockchains to roughly 37 million wallets.
Midnight’s Token Giveaway Will Span Eight Blockchains With No VC Involvement
The Glacier Drop helps Cardano’s technique to develop Midnight, its privacy-first sidechain now in the testnet stage. Hoskinson defined that the mission facilitates non-public good contracts and consists of native cross-chain performance. In contrast to token launches that prioritize early backers and institutional buyers, this airdrop targets retail customers completely.
Rejecting standard funding fashions, Hoskinson confirmed that the group will not allocate any tokens to enterprise capitalists or insiders. The group will ship NIGHT, a governance token, and DUST, used for non-public transactions, instantly to eligible wallets with out imposing conditions or lock-up durations.
Midnight’s design encourages builders to proceed paying community charges in their native tokens—whether or not ETH, SOL, or BTC—whereas utilizing its infrastructure. The mission helps a multi-chain setting the place validators from varied blockchains can assist safe the community and earn rewards. Hoskinson clarified that the initiative doesn’t search chain dominance, however fairly goals to create a cooperative financial mannequin that advantages the broader crypto ecosystem. The group expects to launch the Midnight mainnet by late 2025.
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ADA Value Faces Strain Beneath $0.80 as Technical Indicators Present Bearish Momentum
As for the price of Cardano’s native token, ADA, the asset has proven indicators of weak spot following a rejection on the $0.85 resistance zone. The token is presently buying and selling at $0.7717. That is simply above key assist ranges, with the short-term pattern showing bearish.
ADA’s price has dropped beneath its 20 and 50 exponential shifting averages (EMAs), which now act as resistance ranges. The 20 EMA sits at $0.7965, whereas the 50 EMA is barely decrease at $0.7794. Each of those ranges will should be reclaimed for ADA to shift again right into a bullish pattern. If the price fails to interrupt above these resistance factors, ADA might proceed to face downward stress.
The 100 EMA at $0.7496 is the fast assist stage to observe, adopted by the 200 EMA at $0.7208, which provides stronger assist additional down. With the RSI presently at 41.69, the asset is in impartial territory. This means there may be room for extra draw back if the market momentum doesn’t shift quickly.
Given the present price motion and technical indicators, ADA is prone to testing the $0.75 and $0.72 ranges within the close to time period except a rebound happens.