Hoskinson explains ADA's weakness while Midnight captures attention

Cardano founder Charles Hoskinson has spoken out amid growing questions surrounding the weak performance of ADA price, as significant interest develops around Midnight ($NIGHT), a new project attached to the Cardano ecosystem. In a matter of days, Midnight has captured the attention of the crypto market, highlighting a stark contrast between the enthusiasm generated by technological advances and the continued stagnation of ADA price. Hoskinson's statements shed light on both the project's ambitions and the general state of the crypto market.

Hoskinson sees Midnight expanding beyond Cardano into broader DeFi

Midnight recently reached the top spot for the most trending cryptocurrencies on CoinGecko, briefly generating more interest online than Bitcoin, Ethereum and Solana. Reacting to this dynamic, Hoskinson reiterated that the project is still in its early stages, while emphasizing that it is the first native Cardano asset to overtake Bitcoin and Ethereum in terms of trend.

According to him, this rise in visibility reflects above all a growing interest in blockchain solutions focused on confidentiality, rather than simple short-term speculation.

The Cardano CEO also argued that integrating Midnight into XRP-based DeFi systems could challenge some existing banking structures. He also mentioned the possibility of linking Midnight to Bitcoin, which would allow us to reconnect with certain concepts mentioned during the first design phases of the Bitcoin network.

Within the Cardano ecosystem, Midnight is expected to support large-scale private DeFi activities, with a potential positive impact on overall network usage. Hoskinson describes this stage as the emergence of a fourth generation of blockchain development, focused on privacy and real-world applications.

Development Growing Faster Than Cardano Price, Says Hoskinson

The expected impact of Midnight on Cardano covers several key areas:

• private smart contracts adapted to regulated environments;
• a strengthened DeFi activity thanks to privacy-oriented tools;
• increased network adoption by enterprise applications;
• an increase in the volume of transactions linked to real activity;
• increased appeal for developers creating solutions that comply with regulatory requirements.

Despite the growing interest around Midnight, ADA price remains under pressure. Questioned by a member of the community about this discrepancy, Hoskinson explained that the entire crypto market remains fragile after several years marked by scams, hacks, manipulation and questionable practices. According to him, the current climate remains fragile and highly dependent on market sentiment, with confidence still in the rebuilding phase.

He added that a real recovery could take time. It could be several months before sentiment stabilizes and prices truly reflect the progress being made behind the scenes. His comments suggest that, in a context of low risk appetite, technological advances alone are not enough to support prices.

ADA struggles below $0.38 while technical signals remain bearish

At the time of writing, ADA is trading below the $0.38 threshold, recording a slight gain of 3% over the last 24 hours. Even over a longer horizon, the dynamic remains weak.

Over one year, the token shows a drop of 57% and still evolves at 88% below its all-time high. Market sentiment remains negative, with only 11 positive days out of the last 30.

Technical indicators continue to signal marked downward pressure. The price movement draws a succession of descending peaks and troughs, while the Bollinger bands move downward, reflecting persistent selling pressure. The recent rebound observed appears more like a corrective movement than a true trend reversal. Although sales intensity has eased slightly, sellers maintain the advantage.

To have any hope of a more solid recovery, ADA will need to break through several key resistance levels and manage to hold there, which is not yet the case. Despite the growing attention to Midnight, Cardano's price development reflects a still cautious market, where the restoration of confidence remains a determining factor, beyond technological advances.