What happened?
The much-anticipated Midnight (NIGHT) airdrop has commenced. As Cardano’s new privacy-focused sidechain, Midnight is paving the way for anonymous transactions and smart contract deployment for sensitive applications like medical records, financial data, and identity systems. With the upcoming Token Generation Event (TGE), $NIGHT has potential to mark a significant point in the ADA ecosystem, potentially opening doors to massive utility possibilities and reigniting market momentum.
Who does this affect?
The $NIGHT tokens will be distributed to investors who held more than $100 worth of BTC, ETH, XRP, SOL, ADA, BNB, AVAX, or BAT. In order to participate, users are required to create a new Cardano wallet. This move is expected to significantly increase daily active users on the network, which can result in strengthening a bullish Cardano price prediction.
Why does this matter?
The Midnight airdrop could shake the current Cardano price prediction and stands as one of the most awaited events of the year. The expected influx of new wallets and first-time interactions with the Cardano ecosystem could positively impact the ADA during the redemption phase. Furthermore, the success of this event could inspire more such innovations in the crypto market, affecting overall market dynamics.