Cardano spikes 11% as Midnight launch and Bitwise ETF inclusion fuel breakout bid
Cardano (ADA) rallied more than 11%, climbing to about $0.48 — its highest level since November 19 — amid a broader crypto market rebound led by Bitcoin trading above $92,000. The surge on December 9–10, 2025 was supported by two key developments: the launch of Midnight, a privacy-focused Cardano sidechain using zero-knowledge proofs and Hydra scaling, and ADA’s allocation (0.65%) in the newly launched Bitwise 10 Crypto Index ETF (BITW) which began trading on the NYSE and reached $1.25 billion AUM on December 9. Technical indicators show bullish momentum: daily MACD crossover and RSI above 50. Short-term targets cited include $0.50, with longer-term upside points at the 50-day EMA (~$0.83) and $1.00, referencing ADA’s rapid move in March 2025. Key SEO keywords: Cardano price, ADA price, Midnight sidechain, Bitwise ETF, crypto breakout.
Bullish
The news is bullish for ADA. Two concrete catalysts—Midnight’s launch and ADA’s inclusion (0.65%) in the Bitwise 10 Crypto Index ETF—provide both fundamental and institutional demand signals. Midnight introduces new on-chain utility and potential demand for ADA through ecosystem growth and privacy-focused use cases; historically, new protocol launches or major feature rollouts often lift token sentiment and trading volume. Inclusion in a US-listed ETF creates institutional exposure and passive buying flows; the ETF’s rapid $1.25B AUM at launch signals meaningful capital allocation that can support price floors. Technicals back the bullish case: daily MACD bullish crossover and RSI above 50 indicate upward momentum, and the 11% jump shows buyer conviction. Short-term impact: likely continuation toward near-term resistance at $0.50 as traders chase momentum; volatility may increase around news flow and profit-taking. Medium- to long-term: sustained interest depends on Midnight adoption metrics, continued ETF flows, and broader crypto market trends (notably BTC). Risks include quick retracement if broader market weakens or if Midnight faces adoption or technical issues. Similar past events: token listings or protocol launches (and ETF inclusions) have driven sharp rallies (e.g., previous ADA moves around major upgrades and ETF-related flows), often followed by consolidation. Traders should watch volume, on-chain activity for Midnight, ETF inflows/outflows, and macro BTC direction to time entries and manage risk.