Cardano Struggles Under 25 Cents as Co-Founder Praises Midnight
Cardano (ADA) is trading under 25 cents this week, down roughly 8% in the last seven days, and the broader ecosystem is sending mixed signals. Adding to the intrigue, Charles Hoskinson publicly praised Midnight as a “next-generation cryptocurrency” — just as ADA dipped below a key moving average.
Hoskinson’s shout-out comes on the heels of Midnight landing a major deal with UK digital bank Monument to tokenize £250 million in customer deposits. This marks the first time a UK-regulated bank has issued tokenized deposits on a public blockchain while keeping them interest-bearing and protected — a significant milestone for crypto adoption.
Hoskinson highlighted Midnight’s deflationary tokenomics, where protocol revenue buys back and recycles NIGHT tokens into the treasury. It’s a compelling structure… but the catch is obvious: it’s not Cardano.
ADA’s Technicals and Macro Headwinds
From a price perspective, ADA is struggling. The coin has lost 66% year-to-date and faces a macro environment that’s challenging for altcoins. Technically, it’s trading between $0.23 and $0.27, having slipped below the 20-day EMA at $0.258 — a key level that traders watch for momentum.
Overhead, resistance remains stiff: the 50-day SMA sits near $0.30, while the 200-day SMA is around $0.50 — levels ADA hasn’t approached in months.
There are some positives. Whales have quietly accumulated $161 million, pushing Cardano’s DeFi total value locked past $1.1 billion. And April’s van Rossem hard fork, alongside Midnight’s mainnet launch, represents major fundamental catalysts. Institutional interest through CME futures and Grayscale holdings adds another layer of support.
Forecasts are mixed. Binance expects an April average near $0.57, optimistic compared to current prices. Flitpay’s long-range models predict $1.20–$1.80 if macro conditions cooperate, while CoinCodex is more cautious, calling for a $0.25 low by March 30.
Looking Beyond Spot Price: Bitcoin Hyper Gains Attention
Holding around $0.25 isn’t exactly a victory — it’s more like a waiting room. For traders watching Layer 1 networks struggle, early-stage infrastructure projects are starting to attract attention.
One of those is Bitcoin Hyper (HYPER), currently in presale. It’s positioning itself as the first Bitcoin Layer 2 integrated with the Solana Virtual Machine (SVM), aiming to fix Bitcoin’s limitations — slow finality, high fees, and lack of programmability — while preserving its security.
The promise is simple: faster smart contracts on Bitcoin, not instead of it. The presale has raised over $32 million at $0.0136 per token, with 36% APY staking rewards for early participants. Its standout feature is SVM integration, reportedly delivering lower latency than Solana itself, plus a Decentralized Canonical Bridge for BTC transfers.
Bottom line:
Cardano is consolidating under pressure, and the macro and technical picture remains cautious. Meanwhile, projects like Midnight and Bitcoin Hyper show where investor attention is shifting — toward innovative infrastructure that could define the next crypto cycle.
