Cardano
Why Cardano is down 1.9% today
Analysis
Cardano (ADA) slipped 1.9% over the past 24 hours as traders digested mixed signals around the upcoming Midnight privacy-focused initiative. CoinDesk reported Charles Hoskinson emphasizing that Midnight “won’t chase” Monero or Zcash users, which may have tempered expectations about how aggressively the upgrade could drive new demand.
Contributing Factors (2)
Cardano founder Charles Hoskinson says Midnight won't chase Monero, ZCash users
Midnight will target "billions who don't know they need privacy" rather than privacy maxis as mainnet launch nears in March, he said.
Cardano – All about Midnight launch date, LayerZero deal, and more…
Will recent updates help sway token prices in the long-term?
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.