Cardano’s NIGHT Token Crashes 90% Post-Launch
- NIGHT crashes 90% post-launch, impacting Cardano ADA -2.13% .
- Airdrop sell-offs trigger the price drop.
- ADA faces resistance, cautious market mood persists.
The NIGHT token, launched by the Midnight NIGHT -7.24% Network as part of Cardano’s sidechain, saw a dramatic 90% drop post-launch on December 9, 2025.
This plunge, driven by airdrop sell-offs, impacts Cardano’s market, highlighting concerns over speculative trading strategies.
A major NIGHT token crash occurred shortly after its launch on Cardano, falling 90% from $1.50 to $0.05. This severe drop was primarily driven by sell-offs from airdrop recipients, creating volatility.
The primary project impacted is the Midnight Network, which issues NIGHT as part of Cardano’s ecosystem. Charles Hoskinson, Cardano’s founder, is a key figure involved in the project, with ambitious plans to enhance development.
The crash affected the Cardano market, with the ADA token experiencing a 2% drop to $0.42. It continues to struggle at a $0.45 resistance level, mirroring market sentiment caution amid broader crypto trends.
Financially, NIGHT quickly rebounded to $0.1131, a 195% recovery, with its market cap surpassing $1.7 billion. Trading activity remained high, highlighted by substantial redemption activities enhancing the Cardano ecosystem liquidity. As Charles Hoskinson noted, “Midnight’s growth can boost Cardano DEX volume from $4.3 million to billions via stablecoins and bridges.”
Market reactions paralleled historical speculative dumps seen in crypto ecosystems. The NIGHT token dynamics show similarities with previous Cardano ecosystem patterns lacking significant core updates, affecting sentiment and stability.
Future outcomes for NIGHT could depend on development milestones and Cardano’s liquidity strategies. Historical trends suggest potential for recovery; however, caution remains critical as the industry observes regulatory developments.
