Cardano Sees 5.2% Upswing after Midnight Debut
Cardano (ADAUSD) has jumped by about 5.2% in the last 24 hours as investors returned to take positions as selloff festivals began to fade.
Trading data obtained from cryptocurrency exchanges showed that ADAUSD climbed by 5.21% on the day as trading volume printed at $560 million, up by about 39%.
Hovering around $0.38, the altcoin is making further uptrend at the press time, showing strong buy side activities amidst broad-based cryptocurrencies rally on Monday.
The move aligns with broader crypto market gains (+0.9% in 24h) but outperforms due to ecosystem-specific catalysts. The price uptick occurred as Cardano’s privacy token hit $9 billion volume, lifting ADA sentiment.
ADA’s rally stems from Midnight’s explosive debut, Binance’s liquidity play, and a technical bounce – but sustainability depends on broader market strength and follow-through buying.
Midnight (NIGHT), Cardano’s privacy-focused sidechain, hit $6 billion daily volume – exceeding Solana and XRP combined. In addition, the bargain hunting was supported by higher liquidity level.
The traction reflects growing institutional interest in privacy tech and cross-chain interoperability – linked to Bitcoin/ETH/Solana via its allocation model. This indirectly boosts ADA’s visibility as Midnight’s parent chain.
The Fed injected $38 billion via repo agreements over 10 days, ending quantitative tightening. The market expect trading to improve positively. The token rebounded 44% weekly after initial airdrop sell-offs, with Ledger/Trezor wallet integration boosting accessibility.
The altcoin rebounded from critical Fibonacci support of $0.347 toward 23.6% retracement at $0.451, exiting oversold territory.
Analysts said Cardano’s privacy-focused Midnight ($NIGHT) saw $8.38 billion in volume in 24h after listing on Binance, Bybit, and Kraken. NIGHT’s price surged 12.38% to $0.10, with 79.3 billion tokens traded.
Binance listing is fuelling the rally, as new ADA/USD1 pair launching on Dec 24 has already sparked pre-emptive buying. XRP Falls Amidst Institutional Demand, Retail Selloff
