Prolonged bear market consolidation could be done once Midnight’s mainnet hits. Will this 2024 setup be replicated?
Cardano’s (ADA) developer team made quite a few big announcements during the Consensus conference in Hong Kong. This year’s edition features Charles Hoskinson dressed in a McDonald’s costume, taking the reins from fellow colleague Vitalik Buterin as a major crypto figure with the most extravagant swag.
Here’s What Cardano’s Bounce Back Hinges On
On the stage, Cardano Midnight’s team also shared the timeline for the side-chain’s mainnet launch. Mainnet is supposed to provide a stable environment for builders to operate & launch privacy-focused dApps on Cardano’s side-chain. According to Midnight’s official X, this is designed to support “early applications built around selective disclosure and real-world privacy.”
Along with this, many market connoisseurs are expecting substantial capital to start rolling in – privacy chains are among the top crypto narratives in 2026. However, the legal uncertainty has pushed classic privacy coins like Monero (XMR) & Zcash (ZEC) to the sidelines in most institutional surroundings, not to mention the de-listing from major exchanges like Binance.
Cardano Whipped By Bears, NIGHT Token Slips
With Cardano’s (ADA) price now floating just above $0.26, seasoned market analysts point to the structure resembling that of late 2024. Back then, Cardano’s (ADA) market value hit the same $0.26 mark before bouncing off to $1.40 in less than three months, on December 7, 2024. However, this potential 600% run will be scratched out if ADA’s setup breaks that demand zone.
On the 4-hour charts, the threshold Cardano (ADA) must stay above is $0.252. Zooming out, the daily charts indicate a lower demand territory at $0.224. On Midnight’s side, the newly-launched native NIGHT token skyrocketed beyond 200% in two weeks since launch, but now has succumbed to the broader ultra-bearish trend, dropping 25.2% in 30 days to $0.04959.
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