【Midnight surges 150% while the main token ADA can’t move: is it the ecosystem’s “bloodsucking effect” or a whale quietly rebalancing in the dark?】
Over the past two days, Cardano’s most eye-catching development hasn’t been the main token, but the privacy sidechain Midnight. After official unlock of “permissionless smart contract deployment on the mainnet” on October 2, the sub-token $NIGHT surged by about 159% within a week, breaking through $0.048.
In contrast, ADA—the big brother—rallied to 0.2598 today, only to quickly drop back to 0.252, with a heavy-looking chart. Behind this is a classic “ecosystem capital-siphoning effect”: speculative funds and on-chain high-risk appetite have all been redirected to the highly elastic ZK privacy narrative, while the main token’s secondary market lacks meaningful new buy orders.
From an on-chain holdings perspective:
0.258–0.265 is a dense resistance zone where multiple prior attempts failed. Whales used the sub-token’s heat and the expectation around upcoming conferences to carry out partial hedging and defensive rebalancing within that band. By no means should you see NIGHT pumping and then blindly chase long ADA around 0.26 out of FOMO.
The strategy at this stage is clear: if the sub-token hype cools down and profits fail to flow back to the main token in time, ADA still needs to retest the 0.240–0.244 box range and confirm support at the bottom. Only if the daily chart closes on strong volume above 0.265 will that be the signal that the main token’s trend has restarted.
#Cardano #ADA #Midnight #NIGHT $ADA #Crypto
Over the past two days, Cardano’s most eye-catching development hasn’t been the main token, but the privacy sidechain Midnight. After official unlock of “permissionless smart contract deployment on the mainnet” on October 2, the sub-token $NIGHT surged by about 159% within a week, breaking through $0.048.
In contrast, ADA—the big brother—rallied to 0.2598 today, only to quickly drop back to 0.252, with a heavy-looking chart. Behind this is a classic “ecosystem capital-siphoning effect”: speculative funds and on-chain high-risk appetite have all been redirected to the highly elastic ZK privacy narrative, while the main token’s secondary market lacks meaningful new buy orders.
From an on-chain holdings perspective:
0.258–0.265 is a dense resistance zone where multiple prior attempts failed. Whales used the sub-token’s heat and the expectation around upcoming conferences to carry out partial hedging and defensive rebalancing within that band. By no means should you see NIGHT pumping and then blindly chase long ADA around 0.26 out of FOMO.
The strategy at this stage is clear: if the sub-token hype cools down and profits fail to flow back to the main token in time, ADA still needs to retest the 0.240–0.244 box range and confirm support at the bottom. Only if the daily chart closes on strong volume above 0.265 will that be the signal that the main token’s trend has restarted.
#Cardano #ADA #Midnight #NIGHT $ADA #Crypto
