Cardano's Midnight Airdrop Sees 250M Tokens Claimed in 24 Hours Boosting ADA Sentiment

Cardano founder Charles Hoskinson has highlighted a significant milestone in the Midnight Network’s Glacier airdrop, marking a dramatic increase in blockchain community engagement. In just 24 hours, more than 11,000 wallets claimed 250 million NIGHT tokens, representing one of the largest multi-chain airdrops of the year. The airdrop spans eight major blockchains, including Cardano (ADA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP. A total of 24 billion NIGHT tokens are being distributed, with 12 billion allocated to Cardano holders, and an estimated 37 million wallets qualified, showcasing the breadth of the initiative [1].

Hoskinson expressed his astonishment with the rapid adoption of the airdrop, sharing on X: “Already 11,000 redemptions for 250,000,000 night! I’m blown away by the progress.” The speed and scale of the token claims highlight strong community participation and growing interest in cross-chain initiatives. The event also demonstrates the potential of multi-chain ecosystems to support large-scale, interoperable token distributions [2].

Meanwhile, ADA has shown positive price action. After retesting a key support level, the token has rebounded and is currently consolidating above $0.73. According to market analyst Lingrid, this pattern suggests the potential for a breakout. “Price is currently consolidating above $0.73, forming a higher low inside the rising wedge. If momentum builds from this base, the move toward the $0.86–0.90 target zone looks increasingly probable,” she stated. As of the latest data, ADA was trading at $0.7271 on CoinGecko [2].

The convergence of increased on-chain activity and favorable technical indicators has led to a surge in bullish sentiment among investors. In addition, expectations for a potential ADA spot exchange-traded fund (ETF) have added to the optimism, with many anticipating that such a product could unlock new levels of institutional demand and support Cardano’s long-term growth [2].

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[1] title1: Cardano Ignites: Hoskinson Teases Midnight Network Milestone as Bulls Target Mega Surge (url1: https://zycrypto.com/cardano-ignites-hoskinson-teases-midnight-network-milestone-as-bulls-target-mega-surge/)

[2] title2: Cardano Ignites: Hoskinson Teases Midnight Network Milestone as Bulls Target Mega Surge (url2: https://www.tradingview.com/news/zycrypto:c4188b34a094b:0-cardano-ignites-hoskinson-teases-midnight-network-milestone-as-bulls-target-mega-surge/)