In accordance with Crypto.News, the price of Cardano (ADA) fell 6.5% on October 22, despite the completion of the Midnight mint event. The project minted all 24 billion NIGHT tokens on the Cardano network, entering the Scavenger Mine phase ahead of the Redemption phase. Midnight, a privacy-focused sidechain, aims to bring confidential smart contracts and data protection to the Cardano ecosystem. However, broader bearish market conditions and structural weakness in ADA have overshadowed the event, with the token failing to reclaim key support levels.
Cardano Price Drops 6.5% Despite Midnight Mint Event
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