- ADA wallets are down 19.7%, pushing Cardano into an extreme buy zone.
- Midnight’s NIGHT token launches on December 8 with full exchange support.
- ADA’s chart remains heavily bearish, needing stronger demand for any recovery.
Cardano’s been taking punch after punch lately, but somehow it always manages to stumble back to its feet. And now, after months of speculation, one bright spot is finally locked in. Charles Hoskinson confirmed that Midnight’s native token, NIGHT, will officially launch on the 8th of December. On launch day, distribution will roll out and exchanges will open trading at the same moment — a coordinated kickoff the ecosystem has been waiting for. Midnight has grown into one of Cardano’s most-watched projects, mainly because it tackles privacy-first smart contracts and secure data sharing, something Hoskinson stressed will be mandatory for future blockchain use. If the team delivers on that vision, Midnight could become a major bridge between social chains, real-world applications, and even cross-ecosystem tools we haven’t seen yet.
ADA Wallet Losses Hit -19.7%, Entering Extreme Buy Territory
But while excitement builds around NIGHT, ADA itself is sitting deep in the mud. Santiment data shows that active ADA wallets over the last 30 days are down 19.7%, pushing Cardano straight into what they classify as an “extreme buy zone.” Basically, the pain is heavy enough that historically this is where reversals often begin forming. ADA’s drop looks even worse when lined up next to other majors — Chainlink, Ethereum, and XRP are all bleeding double digits, but ADA’s slide has been one of the steepest. Bitcoin is down too, but BTC is still hanging in a gentler “good buy zone,” which speaks to the intensity of ADA’s slump. These kinds of extremes don’t guarantee a bounce… but they’ve been early signals before.
Price Weakness Intensifies as Technicals Flash Bearish
At press time, ADA was trading around $0.46 after a slow, painful series of red candles. All the major EMAs sit comfortably above the current price — not a great sign — giving the chart a clearly bearish slope. RSI is hovering near oversold territory, hinting that sellers might start running out of steam soon, but not confirming anything yet. Meanwhile, the MACD remains negative with no solid reversal signal, which keeps momentum leaning bearish. Buyers tried stepping in briefly, shown by a small bump in volume, but the move wasn’t strong enough to shift the broader trend. For now, ADA needs sustained demand, not just reactive dip-buying, to kick off any meaningful recovery.
A Tension Point for Cardano’s Next Move
Between the NIGHT token launch and ADA’s extremely oversold metrics, the ecosystem is sitting right at a psychological inflection point. The next few days could determine whether ADA begins stabilizing — or sinks deeper before any real rebound forms. Historically, extreme wallet losses haven’t lasted long, but crypto rarely moves in straight lines. For Cardano holders, it’s one of those moments where fear spikes, opportunity widens, and nobody knows which side wins until the chart finally moves.
