Cardano’s Price Falls 6.5% Despite Midnight’s Big Moment – Oops!

Well, folks, just when you thought the Midnight mint would save the day, Cardano’s price took a nosedive. If you’re looking for reasons to break up with your crypto portfolio, you’re in luck!

Cardano price drops 6.5%-because who doesn’t love a good surprise crash? 🤷‍♂️
Midnight minting 24 billion NIGHT tokens on Cardano-seems like a lot, right? Yeah, well…
Cardano enters the Scavenger Mine phase, because apparently scavenging is the new trend. 🧐

Cardano’s privacy-focused sidechain Midnight has hit a milestone. Hooray! 🎉 But it seems the crypto market had other plans, turning a potential celebration into an awkward, uncomfortable silence. Seriously, you couldn’t make this up.

On Wednesday, October 22, Cardano (ADA) dropped 6.5%. It went from nearly a weekly high of $0.6718 to a depressing $0.6304. All this despite the Midnight sidechain hype. They minted 24 billion NIGHT tokens on October 20. That’s a lot of tokens, but hey, who’s counting when everything’s crashing?

Midnight was supposed to be a game-changer, bringing zero-knowledge tech, privacy, data protection, and smart contracts to Cardano. Oh, and it promised institutions would flock to it because compliance is hot right now. But guess what? The crypto market didn’t care. Shocking, right?

Charles Hoskinson, Cardano’s founder, hyped up Midnight, claiming it could bring millions of new users. Well, it seems the only thing attracting attention right now is the dramatic fall of ADA’s price. Good times.

So, Why is Cardano Dropping?

Blame macro pressures, folks. The entire crypto market is feeling the heat, dropping 4% overall. ADA, being the dramatic token it is, couldn’t even manage to stay above the $0.07 value area. It’s like a sad, slow-motion crash.

According to an analyst from crypto.news (and we love them for their honesty), ADA is now eyeing the $0.53 support zone. If it falls through that, well, it’s like a bad reality show no one asked for. And don’t expect things to magically get better anytime soon-bearish momentum is still in full swing.

Meanwhile, Midnight’s sidechain is trudging along to its next phase: the Scavenger Mine. What’s that, you ask? Oh, it’s just a gamified claiming period, because apparently, we’re all in an online treasure hunt now. Soon enough, we’ll all be waiting for the token redemption phase like it’s the season finale of a show we can’t stop watching, even though we know it’s probably going to end in tears. 🍿

2025-10-22 22:45

So, Why is Cardano Dropping?

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