IT'S YOUR MONEY. OWN IT.
Ledger's the smartest way to secure, buy, exchange
and grow your crypto assets.



thumbnail_Ledger_dcd5349cc2.jpeg

Ledger_dcd5349cc2.jpeg

thumbnail_buy_ledgerlive_b031d7d49a.png

buy_ledgerlive_b031d7d49a.png

thumbnail_Ledger_6664e2180d.jpeg

Ledger_6664e2180d.jpeg

Ledger

<div><div><p>By offering programmable privacy and eliminating metadata trails, Midnight's NIGHT and DUST tokens cater to decentralized finance's evolving needs.</p><div><div> <p><a target="_blank" href="https://cryptoslate.com/author/shane-neagle/" title="Shane Neagle Profile"> <img src="https://cryptoslate.com/wp-content/uploads/2020/12/shane-neagle-photo-150x150.jpg" /> </a></p></div><div> <p><span> 4 min read</span></p><p><span>Updated:</span> Aug. 10, 2025 <span>at 12:39 pm UTC</span></p></div></div></div><div> <p><img alt="Is Cardano’s Midnight worth the hype?" src="https://cryptoslate.com/wp-content/uploads/2025/08/cardano-midnight-768x403.jpg" /></p><p>Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.</p></div></div><div><article><div><p><a target="_blank" href="https://link.cryptoslate.com/stake_casino"><img src="https://cryptoslate.com/wp-content/uploads/2025/07/stake-Casino-Game-Creative_GIF-600x500-px.gif" alt="Stake" /></a></p></div><p><em>The following is a guest post and analysis from Shane Neagle, Editor In Chief fromThe Tokenist.</em></p><p>On June 23rd, Midnight Foundation released its first tokenomics paper. Earlier in June, Charles Hoskinson, the co-founder of Ethereum (ETH) and founder of Cardano (ADA), pegged Midnight as “the single biggest event in the history of Cardano,” with a caveat: “if it is successful.”</p><p>Although the altcoin season had a <a target="_blank" href="https://cryptoslate.com/ethereum-solana-xrp-losses-cause-altcoin-season-index-to-drop-to-lowest-in-a-year-amid-bitcoin-strength/">pullback this week</a>, and the crypto market is more diluted than ever with tens of thousands of tokens, it is worth investigating new projects. After all, the exit of the Biden administration represents the departure of a hostile force that used many <a target="_blank" href="https://cryptoslate.com/congress-probing-crypto-industrys-systematic-debanking-under-biden-regime/">underhanded tactics to debank</a> crypto projects.</p><p>In that light, what is the merit behind Midnight?</p><h2>Cardano’s Need for Midnight</h2><p>It is no secret that the Cardano blockchain is generally perceived as lagging behind other networks such as Ethereum or Solana. By total value locked (TVL), Cardano ranks 20th according to DefiLlama, with $360 million in capital across ~50 dApps. For comparison, Solana has a TVL of $10 billion across ~240 dApps, which is again 8x lower than Ethereum.</p><p>This lack of significant market share is largely attributed to Cardano’s robust academic approach to smart contract development and blockchain frameworks, ensuring that the network has all its ducks in a row to avoid reputation-disabling vulnerabilities down the line.</p><p>Charles Hoskinson also noted the lack of stablecoins as a contributing factor, having floated the idea of converting around $100 million worth of ADA tokens into USDM stablecoins, which are issued by the regulated Moneta Digital LLC service.</p><p>Moreover, if scaling of Cardano goes as planned, in addition to the inflow of stablecoins post-<a target="_blank" href="https://cryptoslate.com/genius-act-makes-immediate-impact-as-jp-morgan-looks-to-allow-crypto-as-collateral-for-lending/">Genius</a> and Clarity Acts, Hoskinson boldly <a target="_blank" href="https://x.com/IOHK_Charles/status/1943471085896483225">forecasted</a> that the altcoin market will see trillions of value—and that Cardano is expected to play a major role in it. But what is Midnight’s role?</p><h2>Midnight’s Background and Pitch</h2><p>Midnight is closely tied to Cardano’s IOHK (Input Output Hong Kong), later rebranded as Input Output Global (IOG). While the Swiss-based Cardano Foundation is in charge of developing the blockchain ecosystem, such as adoption and community-building, IOG is the software engineering organization behind Cardano’s core tech and roadmap.</p><p>As the current president of the Midnight Foundation launched in May, Fahmi Syed served within IOG to push the project, in addition to contributing to Polkadot and Kusama via Parity Technologies. Prior to Syed’s crypto involvement, he was the chief operating officer (COO) at UK-based Fifthdelta, which emerged as a startup from Citadel money managers in 2021.</p><p>Midnight Foundation pitches the network as a “fourth-generation blockchain built for secure, compliant, and private decentralised applications.” What does that mean exactly?</p><ol><li>TradFi has been notoriously cautious to adopt blockchain because the default one is too transparent. Both Ethereum and Bitcoin have transactions publicly visible, which doesn’t lend itself to safeguarding customer data and financial privacy.</li><li>Midnight aims to step into this gap by providing programmable privacy, utilizing <a target="_blank" href="https://cryptoslate.com/standards-for-zero-knowledge-proofs-will-matter-in-2025/">zero-knowledge proof cryptography</a>. This tech enables data/transaction verification without revealing identity, making it regulatory-compliant in the process.</li></ol><p>Specifically, Midnight Network uses ZK-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) with its own smart contract programming language, Compact. Although zero-knowledge proof is more computationally intensive off-chain, this tech reduces on-chain load without requiring a trusted setup (depending on the variant used).</p><p>Per transaction, this approach exerts higher fees due to higher computational costs, but ZK-rollups turn this around by bundling many transactions into a single cryptographic proof. Ultimately, this reduces on-chain load and transaction costs.</p><p>In short, the purpose of Midnight is to act as a bridge between private and public ledgers, eliminating the exposure of on-chain transactions. The key to furthering that goal is Midnight’s Zswap ledger, which facilitates atomic token swaps.</p><div><p><a href="https://link.cryptoslate.com/nemo_inarticle" target="_blank"> <img src="https://cryptoslate.com/wp-content/uploads/2025/06/nemo-1456x180-1.jpg" alt="Nemo" /> </a></p></div><p>After all, <a target="_blank" href="https://cryptoslate.com/komodo-launches-on-chain-bridge-between-ethereum-and-binance-smart-chain/">atomicity</a> is crucial for cross-chain transfers between multiple token types and privacy layers. Overall, this makes Midnight Network a promising project. It is worth remembering that the ideal scenario for the crypto market to thrive is to create a cohesive blockchain ecosystem in which users seamlessly transact between different parts.</p><h2>Midnight’s Ecosystem Rollout</h2><p>At press time, Midnight listed 52 dApps across infrastructure, DAO, DeFi, wallets, NFTs, prediction markets, gaming, AI, and other areas that benefit from programmable privacy. As with many other crypto projects, Midnight is unrolling two types of tokens:</p><ul><li>NIGHT – native utility token for on-chain governance and ecosystem incentives, distributed to network participants securing the network. NIGHT is native to both Cardano and Midnight.</li><li>DUST – unlike ETH, which pays for transactions across Ethereum dApps, NIGHT doesn’t serve that function. Instead, NIGHT tokens generate DUST, a renewable resource.</li><li>As long as Midnight participants hold NIGHT tokens, they can use the generated DUST to execute free transactions, which is itself an incentive mechanism. DUST decays after generation (designating DUST address by NIGHT token holders), which prevents it from serving as a store of value.</li></ul><p>The decision to go that route was driven by Midnight’s privacy focus, as DUST doesn’t leave a metadata trail like other single-token ecosystems. This also includes resistance to <a target="_blank" href="https://cryptoslate.com/eu-draft-standards-deem-mev-as-clear-example-of-market-abuse-under-upcoming-mica-rules/">MEV manipulation</a>.</p><p>In the Midnight tokenomics and incentives <a target="_blank" href="https://45047878.fs1.hubspotusercontent-na1.net/hubfs/45047878/Midnight-Tokenomics-And-Incentives-Whitepaper.pdf">whitepaper</a> released in June 2025, NIGHT token supply is limited to 24 billion, minted on Cardano and mirrored on the Midnight network.</p><p>This supply is hard-capped, which means greater demand for transactions will not expand it. Under the umbrella of Midnight Foundation, the subsidiary Midnight TGE is in charge of this tokenomics model, in addition to Treasury and Reserve.</p><p>Reserve serves to issue NIGHT tokens to the network’s block producers, marking them as uncirculated supply.</p><h2>Ongoing Midnight Token Airdrop</h2><p>Dubbed “Glacier Drop” for phase 1 rollout, the airdrop will run from July through August, delivering 50% (12 billion NIGHT tokens) to Cardano (ADA), 20% to Bitcoin (BTC), and 30% across Ethereum (ETH), Ripple (XRP), Solana (SOL), Avalanche (AVAX), BNB Chain (BNB), and Brave (BAT).</p><p>Every three months, 25% of NIGHT token supply is unlocked, with the total unlock reached after 360 days. Initially, NIGHT tokens are locked, becoming tradable gradually to avoid supply shocks. To encourage adoption, any crypto holders with a minimum of $100 across the aforementioned chains are eligible to claim NIGHT tokens.</p><p>After the Glacier Drop, two more claim phases will follow—Scavenger Mine and Lost-and-Found. Readers interested in this project should visit the official website and <a target="_blank" href="https://www.midnight.gd/how-to-get-night#claim">follow claim instructions</a> via the NIGHT Claim portal.</p><h2>The Bottom Line</h2><p>Features such as atomic swaps, privacy, and cross-chain functionality have been pillars of the crypto space since the early days. Case in point: Komodo launched open-source AtomicDEX in mid-2019. However, Midnight Network appears to be a more comprehensive project by combining all three aspects.</p><p>More importantly, Midnight is tied to Cardano, which is still well-capitalized. Likewise, the legacy blockchain network is known to form relationships with various government entities and organizations. In early 2025, asset manager Grayscale <a target="_blank" href="https://www.sec.gov/files/rules/sro/nysearca/2025/34-102475.pdf">filed</a> to turn Grayscale Cardano Trust into a publicly traded spot ETF.</p><p>Without a hostile SEC with Gary Gensler gone, this makes for a more fertile ground for Cardano and its associated projects. In turn, both ADA and NIGHT enthusiasts should proceed with cautious optimism, aware of the risks, but not blind to the opportunity—especially when paired with insights from the <a target="_blank" href="https://tokenist.com/investing/best-investment-newsletters/">highly-rated investment newsletters</a> that help decode emerging trends.</p><h6>Mentioned in this article</h6><div><h5>Latest <span>Cardano</span> Stories</h5></div><div><h5>Press Releases</h5></div></article></div>

Cryptoslate

Is Cardano's Midnight worth the hype?

<p style="margin-left:0px;"><i>The collaboration reinforces our commitment to open-source development and includes our support in contributing Midnight’s smart contract language to the LF Decentralized Trust</i></p><p style="margin-left:0px;">___</p><p style="margin-left:0px;">Shielded is proud to announce that we are now a premier member of the <a href="https://www.lfdecentralizedtrust.org/"><u>Linux Foundation Decentralized Trust</u></a>, the leading open-source foundation for decentralized technologies. This move formalizes our commitment to open development and supports our goal of making data protection a core part of Web3.</p><p style="margin-left:0px;">As part of our membership, we will also support the <a href="https://midnight.foundation/"><u>Midnight Foundation</u></a>'s planned contribution of the <a href="https://docs.midnight.network/develop/reference/compact/"><u>Midnight smart contract language</u></a> to the LF Decentralized Trust. This will place a critical component of the Midnight network in a neutral home with open governance, fostering collaboration and innovation.</p><p style="margin-left:0px;">"We are joining the Linux Foundation Decentralized Trust as a premier member to accelerate the development and enterprise adoption of open-source, privacy-first technologies," said Bob Blessing-Hartley, Shielded's CTO. "The Linux Foundation has established itself as the collaborative backbone for decentralized innovation, while Shielded brings a critical and missing component — the rational privacy at the core of the Midnight network. Collectively, we will build the next generation of internet infrastructure, one that is not only transparent and resilient but also fundamentally respects user privacy."</p><p style="margin-left:0px;">Blessing-Hartley will join the Governing Board of the Linux Foundation Decentralized Trust alongside leaders from DTCC, Hedera, and Hitachi.</p><p style="margin-left:0px;">Daniela Barbosa, General Manager of Decentralized Technologies at the Linux Foundation, highlighted the importance of Shielded's contribution. "By joining the Linux Foundation as a premier member and committing to supporting Midnight’s proposed code contributions, Shielded is taking a leadership stance on the importance of open development and open governance," she said. "The expertise, support, and contributions they bring further cement our role as the proven neutral home for truly decentralized trust and transaction technologies."</p><p style="margin-left:0px;">This collaboration will advance the development of privacy-enhancing technologies and help create a more secure and transparent digital economy. It is a critical step in building a global ecosystem that upholds the fundamental freedoms of association, commerce, and expression.</p><h3 style="margin-left:0px;"><strong>About LF Decentralized Trust</strong></h3><p style="margin-left:0px;">LF Decentralized Trust is the neutral home for the open development of technologies that empower organizations to innovate with secure and resilient code. It is the Linux Foundation’s flagship organization for a broad range of technologies and standards that deliver the transparency, reliability, security and efficiency required for a digital-first economy. Supported by a diverse, global base of members and communities<i>, </i>LF Decentralized Trust champions open source best practices across a growing ecosystem of blockchain, ledger, identity, cryptographic and related technologies. To learn more, visit: www.lfdecentralizedtrust.org.</p>

Shielded Technologies

Shielded joins Linux Foundation Decentralized Trust as premier member

<div>
 <div>
<picture>
 <source srcset="https://coinjournal.net/wp-content/uploads/imagecache/2025/06/shutterstock_2028925079-1-smartcrop-750x375.webp" type="image/webp" media="(min-width: 750px)"></source>
 <source srcset="https://coinjournal.net/wp-content/uploads/imagecache/2025/06/shutterstock_2028925079-1-smartcrop-363x181.webp" type="image/webp"></source>
 <source srcset="https://coinjournal.net/wp-content/uploads/imagecache/2025/06/shutterstock_2028925079-1-smartcrop-750x375.jpg" type="image/jpeg" media="(min-width: 750px)"></source>
 <source srcset="https://coinjournal.net/wp-content/uploads/imagecache/2025/06/shutterstock_2028925079-1-smartcrop-363x181.jpg" type="image/jpeg"></source>
 <img src="https://coinjournal.net/wp-content/uploads/2025/06/shutterstock_2028925079-1.jpg" alt="Cardano price boost as Midnight’s NIGHT token airdrop goes live" />
</picture> </div>
 <ul>
<li>Cardano launches NIGHT airdrop to 30M wallets across 8 blockchains.</li>
<li>Treasury vote and CBCA course boost Cardano’s ecosystem growth.</li>
<li>Cardano’s ADA eyes breakout as it retests key resistance zone $0.74–$0.76.</li>
</ul>
<p>Cardano (ADA) is riding a wave of renewed investor interest following the highly anticipated launch of the Midnight Network’s NIGHT token airdrop.</p>
<p>The toke airdrop, described by many as one of the most ambitious token distributions in the crypto space, has reignited bullish momentum within the Cardano ecosystem.</p> 
<p>With strong fundamentals, favourable technical setups, and growing community engagement, ADA may now be on the verge of a significant breakout.</p>
<h2>NIGHT airdrop ignites ecosystem excitement</h2>
<p>The Midnight Network, Cardano’s privacy-focused sidechain, officially launched <a target="_blank" href="https://x.com/MidnightNtwrk/status/1952719035659092214">the NIGHT token airdrop</a> — known as the “Glacier Drop” — on August 5.</p>
<p>The drop targets up to 30 million wallets across eight major blockchain ecosystems, including Ethereum, Bitcoin, and Solana.</p>
<p>However, Cardano wallets received the lion’s share, with 50% of the total allocation reserved for ADA holders.</p>
<p>This strategic move not only reinforces Cardano’s dominance in the airdrop but also rewards long-term supporters.</p>
<p>Eligibility was based on a snapshot taken on July 11, targeting wallets with at least $100 in native assets.</p>
<p>Over 23,000 redemptions, totalling more than 470 million NIGHT tokens, were processed within the first few days — an early sign of high user engagement.</p>
<p>Despite some technical glitches involving Ledger wallet signatures and destination address issues, the overall process has been praised for its smooth user experience.</p>
<p>Midnight’s phased distribution strategy, including a thawing period and a scavenger phase, aims to reduce speculative dumping and support steady adoption.</p>
<h2>Cardano (ADA) price breakout from descending triangle</h2>
<p>While the airdrop has drawn significant attention, the technical charts for Cardano (ADA) have quietly become increasingly bullish.</p>
<p>Technical analysis points to a successful breakout from a long-standing descending triangle, followed by a textbook retest at the $0.72 level.</p>
<p>This level now serves as a critical support zone. Cardano’s ability to hold above it suggests that the rally may be structurally sound.</p>
<p>Currently, ADA is retesting a key resistance area between $0.74 and $0.76. Multiple analysts agree that a break above this zone could open the door to $0.84, a crucial breakout point.</p>
<p>If ADA clears this level with volume, momentum could quickly push the price toward $1.00, and potentially $1.30 in the coming months.</p>
<p>Some market analysts, including <a target="_blank" href="https://x.com/CryptoBullet1/status/1953153258761179149">CryptoBullet</a> and <a target="_blank" href="https://x.com/ali_charts/status/1953120632696181006">Ali Martinez</a>, have identified $1.35 as a potential liquidity target.</p>
<p>The long-term bullish scenario sees ADA extending toward $1.60 if broader market sentiment improves and key resistance levels are decisively broken.</p>
<h2>Community governance adds more fuel</h2>
<p>While technicals and airdrops have grabbed attention, Cardano’s recent developments in community governance have also helped boost investor sentiment.</p>
<p>The community recently approved its first-ever treasury funding proposal, greenlighting Input Output Engineering’s plan for core upgrades.</p>
<p>The approval marked a historic shift, enabling decentralised decision-making for future ecosystem development.</p>
<p>Additionally, Cardano has ramped up its global education initiatives. On August 6, it launched the CBCA blockchain certification course in Portuguese, targeting Brazil’s rapidly growing crypto market.</p>
<p>With Brazil reporting $7 billion in crypto volume and a 30% market growth last year, the move is viewed as a strategic attempt to onboard new developers and users.</p>
<p>Future course releases in languages like Hindi and Swahili could further expand Cardano’s global footprint.</p>
<h2>Can ADA ride the Q4 wave again?</h2>
<p>Historically, Cardano has shown a strong tendency to rally in the final quarter of the year.</p>
<p>In both 2023 and 2024, Q4 saw significant price increases for ADA following mid-year consolidations.</p>
<p>Current patterns suggest 2025 may follow a similar path. Seasonality, combined with bullish technical indicators and a major ecosystem event like the NIGHT airdrop, has set the stage for a potential surge.</p>
<p>With momentum quietly building, traders are now closely watching the $0.84 resistance level.</p>
<p>A breakout from this point could validate the multi-month reversal and propel ADA toward its next leg up.</p>
 <div>
 <hr /><h6>Share this article</h6><hr /><h6>Categories</h6><hr /><h6>Tags</h6>
 </div>
 </div>

Coinjournal

Cardano price boost as Midnight’s NIGHT token airdrop goes live - CoinJournal

<div>
<p>Charles Hoskinson, founder and CEO of Input Output, has confirmed that Midnight will play a pivotal role in Cardano’s evolution. In a <a href="https://x.com/IOHK_Charles/status/1953138760281145678" target="_blank">recent livestream</a>, he emphasized that projects like Midnight are vital for advancing the Cardano ecosystem. This announcement followed the launch of Midnight’s Glacier Drop portal, which has already gained traction among blockchain users.</p>
<h2 id="h-night-token-gears-up-to-lead-cardano-s-native-token-market"><strong>NIGHT Token Gears Up to Lead Cardano’s Native Token Market</strong></h2>
<p>Hoskinson made it clear that Midnight will officially launch on the Cardano network, and its native utility token, NIGHT, is expected to outperform all existing Cardano Native Tokens (CNTs). According to him, NIGHT will emerge as the most traded, most visible, and highest-volume CNT once it launches.</p>
<p>The Midnight whitepaper outlines a total supply of 24 billion NIGHT tokens, all of which will be distributed to users across eight different blockchain ecosystems. This broad-based distribution model positions NIGHT to gain traction not just within the Cardano community but across the wider blockchain landscape.</p>
<figure></figure>
<p>Hoskinson believes this expansive adoption could elevate NIGHT’s visibility and drive up its trading volume significantly. In turn, this surge in activity may demonstrate Cardano’s robustness in terms of security, scalability, and overall performance under high demand.</p>
<h2 id="h-midnight-team-enthusiastic-about-ecosystem-impact"><strong>Midnight Team Enthusiastic About Ecosystem Impact</strong></h2>
<p>The Midnight development team shares Hoskinson’s excitement. They believe the project will not only enhance the Cardano ecosystem but also operate entirely within it, reinforcing its value.</p>
<p>Successful projects like Midnight have the potential to attract developers and users to Cardano, bolstering long-term growth. Since Midnight’s announcement in November 2022, it has garnered widespread institutional interest. Hoskinson revealed that the project has already partnered with over 100 ventures, underscoring its potential impact.</p>
<p>Related article: <a href="https://www.fxcryptonews.com/charles-hoskinson-sees-midnight-network-driving-billions-in-utility/" target="_blank">Charles Hoskinson Sees Midnight Network Driving Billions in Utility</a></p>
<p>Even though the Midnight Foundation has yet to set a date for the mainnet launch, the project is steadily progressing. A significant milestone was reached on August 5, when the Glacier Drop claim portal opened. This portal enables eligible users from eight blockchain communities to claim their NIGHT tokens.</p>
<p>So far, the response has been encouraging. As of 03:09 UTC today, 23,182 wallets have successfully claimed 470 million NIGHT tokens. However, this figure represents only a small fraction of the nearly 34 million wallets eligible for the airdrop.</p>
<h2 id="h-claiming-issues-for-ledger-and-trezor-users"><strong>Claiming Issues for Ledger and Trezor Users</strong></h2>
<p>The lower-than-expected claim rate may be linked to technical issues faced by Trezor and Ledger wallet users, who are reportedly encountering errors while trying to claim their NIGHT tokens. The Midnight Foundation has acknowledged the issue and is actively working on a solution.</p>
<p>Users still have time to participate, as the Glacier Drop portal remains open until October 4, 2025. The team aims to resolve the technical challenges well before the portal closes, ensuring a smoother claiming experience for all eligible participants.</p>
		</div><div>
				<p><strong>Disclaimer:</strong> The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.</p>
				</div>

Ledger ($)

We are fully in stock!

Related Projects

AdaLite Wallet

Yoroi Wallet

GeroWallet

Featured News