Cardano founder Charles Hoskinson announced the upcoming Midnight rollout and Glacier Airdrop at Consensus 2025. This fundamental development adds fuel to Cardano’s technicals that forecast a $2 target for ADA price in the near term.
Glacier Airdrop & Midnight Detail at Consensus 2025
At Consensus 2025, Cardano founder Charles Hoskinson revealed details on the upcoming Midnight upgrade and Glacier airdrop. For the privacy-focused sidechain Midnight, Hoskinson announced a massive Glacier Airdrop to distribute Midnight tokens to 37 million wallets spread across eight different blockchains. Charles also said,
This reflects the airdrop’s retail-focused approach to promote decentralization and cross-chain operations. Shedding light on the economic model of Midnight, Hoskinson emphasizes its flexibility and interoperability with various smart contract systems, by adding,
“If you are an Ether user or developer, you spent Ether for that transaction, and the same with Solana with SOL, Bitcoin, so forth.”
If successfully deployed, Midnight shows potential to expand Cardano’s developer base, fueling larger inflows and increased network activity. With a major technical reform in Cardano’s blockchain, ADA’s price could skyrocket in the coming months.
Cardano Price Likely to Mirror 2020 Rally
In a recent tweet, Dan Gambardello revealed the Crypto Capital Venture (CCV) risk model flashing parabolic rise chances for Cardano. The indicator shows a score of 42 for Cardano, last seen before the explosive bull run in late 2017 and 2020. If history repeats, Cardano’s price could embark on a similar explosive rally.
Currently, ADA trades at $0.789 but the optimistic score from the CCV risk model and Hoskinson’s Midnight release could serve as a tailwind for ADA’s next bull run.
Key Levels to Watch
Cardano (ADA) price crashed 92% from its all-time high of $3.0998 to $0.2348, bottoming out in late 2023. ADA’s price has surged 233%, making investors wonder about the exit strategy. Here are the key levels to watch out for as the CCV risk model predicts a major bull run.
Based on the Fibonacci levels, the midpoint of the previously mentioned crash is the 0.50 line at $1.6673. Market price below the 0.50 line reflects a discount stage and a premium zone upon crossing over. In the premium zone, investors can book profits at key levels such as 0.62 at $2.0111 and 0.70 at $0.225.
ADA price chart
As Charles Hoskinson champions Midnight’s rollout and Glacier Airdrop set to reward 37 million wallets, Cardano’s ecosystem eyes major transformation. Additionally, the upbeat signals from the CCV risk model and ADA’s price in the discount zone tease a potential breakout rally to the $2 mark.
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