Cardano (ADA) has gone up by 11% in the past 7 days ahead of the redemption phase of the widely awaited Midnight airdrop.

According to the official website, the redemption phase should start tomorrow and will last 450 days. During this period, those who signed up to claim their NIGHT tokens will be able to redeem their allocation.

Midnight is a privacy-focused blockchain that will strengthen the Cardano ecosystem by offering zero-knowledge transactions. It is a functional layer-2 side chain that expands the mainnet’s use cases.

Eligible wallets for the NIGHT airdrop included millions of investors who had more than $100 on ETH, BTC, XRP, and some other tokens.

A total of 3.5 billion NIGHT tokens have already been claimed, according to the CEO of the Midnight Foundation, Fahmi Syed, accounting for 14% of the token’s total supply.

Privacy tokens have been one of the best-performing categories of this year, with Zcash (ZEC) leading the pack with an eye-popping 630% annual return.

By leveraging the speed and scalability of the Cardano blockchain, NIGHT can be used by the crypto community as an alternative to ZEC or Monero (XMR) to make anonymous transactions within the blockchain ecosystem.

This project could help Cardano accelerate its ecosystem growth at a point when most of its competitors have found profitable niches like Solana with meme coins and BNB Chain with low-fee token transfers in and out of Binance.

Cardano Price Prediction: ADA Breaks Out of Falling Wedge and Could Rise to $0.90

Trading volumes for Cardano in the past 24 hours have jumped by 31% as the token advances by 4.8% to $0.46.

Despite this jump, ADA is among the worst-performing tokens in the top 10, with annual losses of 48%, as the Cardano ecosystem has lagged behind its peers.

The token has been descending almost vertically since the October 10 flash crash, moving from a peak of around $0.95 to its current levels, which translates into a 50% loss.

However, the Relative Strength Index (RSI) is showing early signs of a potential comeback for Cardano as it rose above the 14-day moving average. This means that positive momentum is accelerating and could anticipate a strong recovery ahead for ADA.

The token just broke out of a falling wedge, which can also be interpreted as an early signal of a trend reversal.

The $0.51 level would be the key resistance to watch, as it coincides with ADA’s 200-day exponential moving average (EMA). If the token breaks above this mark, it would confirm that the long-term trend has turned bullish.

If that happens, we could expect a retest of the $0.90 area in the next few weeks, possibly catalyzed by the hype caused by the NIGHT airdrop, paired with an upcoming interest rate cut by the Federal Reserve.

What Midnight plans to do for Cardano, Bitcoin Hyper ($HYPER) plans to accomplish for the Bitcoin OG blockchain. This innovative crypto presale will soon launch an ambitious L2 powered by Solana that could kickstart a new era for BTCFi.

Bitcoin Hyper ($HYPER) Presale Brings Next-Gen Speed to the Bitcoin Network

Bitcoin Hyper ($HYPER) aims to give Bitcoin something it has never truly had: fast, low-cost, scalable transactions.

Instead of relying on workarounds or fragmented tools, Bitcoin Hyper introduces a Solana-based layer-2 built to support the next generation of DeFi apps, meme coins, and payment platforms for the OG blockchain.

For years, Bitcoin has been limited to roughly seven transactions per second, which results in slow confirmation times during network spikes.

Bitcoin Hyper tackles those constraints by adding a high-performance layer that reduces latency and opens the door to broader Web3 integrations. To get started, investors can safely send their BTC tokens to the Hyper Bridge to get the corresponding amount on the Hyper L2 almost instantly.

Analysts agree that once top wallets and exchanges embrace the solution, the demand for $HYPER should explode.

To buy $HYPER before the presale ends, simply visit the official Bitcoin Hyper website and connect your wallet. You can either swap USDT or SOL for this token or use a bank card instead.