Cardano Price Prediction: Hoskinson Says Midnight Will Be ADA’s Biggest Launch Yet – $10 ADA Could Be Just the Start

Midnight is shaping up to be the largest token built on Cardano, a testament that fresh demand for the blockchain could unlock new highs for the Cardano price outlook.

The altcoin has gained 11% since the Glacier airdrop claim portal opened on August 5, kicking off a 60-day window for eligible addresses to redeem NIGHT.

Most of these gains came today, however, following news that Trump signed an executive order granting crypto assets access to the $9 trillion 401(k) investment market.

Macro sentiment also tilts bullish. Traders now anticipate up to three U.S. interest rate cuts before year-end, starting as early as September, with the potential to stimulate new inflows into risk assets like cryptocurrencies.

BREAKING:

THERE'S NOW 91.4% CHANCE OF A RATE CUT IN SEPTEMBER. pic.twitter.com/pUgcfI0KE2

During an August 6 livestream, Hoskinson highlighted the importance of building projects like Midnight to help elevate Cardano to the next level.

The first Glacier Drop phase allocates 12 billion NIGHT to a potential 37 million wallets across 8 different blockchains, positioning NIGHT to attract adoption beyond the Cardano community.

In Hoskinson’s view, this anticipated adoption could drive NIGHT to surpass other Cardano-native tokens in trading volume and visibility.

"Midnight will be the largest, most prominent, most traded, and highest volume Cardano native token in circulation." pic.twitter.com/aGUtQ9RxeA

By extension, this activity could showcase the Cardano blockchain as an attractive platform for building, contributing to a thriving ecosystem and wider use case for ADA as a utility token.

The rally sparked by the Glacier Drop has given ADA the momentum to break out of a two-month bull flag pattern, signaling potential for further upside.

That said, cracks are starting to show. The RSI has pushed into overbought territory at 71, often a sign of buyer exhaustion before a pullback.

A healthy correction toward immediate support at $0.78 could provide the strong footing needed for the next leg higher.

On the 4-hour chart, the MACD line continues to widen its lead over the signal line, suggesting the short-term uptrend still has staying power despite the risk of a cooldown.

With a stronger footing, the breakout path can extend to reclaim resistance levels at $0.84 and $0.94, the level that capped its recent bull run and the gateway for a continuation.

Fully realized, the pattern sets a breakout target of $1.10, representing a potential 46% gain from current levels.

While the $10 milestone remains distant, the long-term onboarding of developers across chains and deeper integration into the U.S. TradFi market could build the demand needed to bring it into view.

With potential 401(k) adoption, and the October 10 deadline for a spot Cardano ETF decision, the added fuel of rate cuts could attract fresh retail and institutional interest.

While most large-cap coins now consolidate under weak buy pressure, low-cap meme coins like TROLL are posting 2x gains in a single day.

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We are at a pivot point.

Dozens more launchpads will come.

Millions of gamble coins will come and go.

But only a handful of MISSION COINS will WIN. pic.twitter.com/rxsVfeux8A

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