Cardano’s native token, ADA, has struggled recently, dropping 28% over the past month amid broader market declines. Despite this, the blockchain reached a symbolic milestone with the completion of epoch 666, a number with biblical significance in the Book of Revelation. While some community members found the milestone amusing, technically it was just another standard epoch in Cardano’s operations.
Meanwhile, Cardano’s privacy-focused partner chain, Midnight, continues to advance. The network recently launched the Ledger 9 upgrade, introducing private asset transfers and more advanced smart contracts. Midnight has already processed over 1.7 million transactions, and its utility token, NIGHT, has risen 11% in the last two weeks, trading around $0.045. Cardano’s founder, Charles Hoskinson, has expressed optimism about NIGHT’s potential, suggesting it could eventually surpass ADA in value.
However, ADA’s price outlook remains bearish. As of press time, ADA is worth roughly $0.176. Whale activity has also raised concerns, with wallets holding between 10 and 100 million ADA offloading 50 million coins between November 4 and November 10. This selling pressure could further drag down the price if demand does not increase.