Overview
- ADA trades around $0.41–$0.42 after a sharp one‑day slide that followed the Federal Reserve’s rate cut and a broader market pullback.
- Midnight’s NIGHT token, launched with an airdrop, has fallen roughly 80% from its early spike as recipients sold into the market.
- Derivatives positioning skews bearish with about 54% of active ADA positions short, while reports on open interest diverge between a 13% drop to about $725.6 million and claims of an increase.
- On‑chain readings show elevated network use, with transactions at a nine‑month high and daily active addresses at a four‑month high, according to Santiment data cited in coverage.
- Large flows include roughly $750 million worth of ADA moved to Binance, and traders highlight $0.50–$0.51 as the confirmation band to validate any sustained recovery after reclaiming levels above $0.45.