Cardano ADA: Midnight Network Aims to Tackle Crypto’s ’Three Demons’ for Global Adoption

At Consensus 2025, Cardano founder Charles Hoskinson highlighted privacy, economic fragmentation, and ’Ponzonomics’ as the three major barriers to global cryptocurrency adoption. His proposed solution, the Midnight network, is designed to address these challenges through a privacy-focused, multi-chain infrastructure. Meanwhile, ADA’s price stands at $0.7565, reflecting ongoing developments in the ecosystem.

Cardano Founder Targets Crypto’s ‘Three Demons’ With Midnight Network

Charles Hoskinson, founder of Cardano and CEO of Input Output, identified privacy, economic fragmentation, and "Ponzonomics" as the three existential threats hindering global crypto adoption during his appearance at Consensus 2025. His proposed solution, the Midnight network, aims to address these challenges through a multi-chain, privacy-centric infrastructure designed to unify the fragmented blockchain ecosystem.

Hoskinson emphasized privacy as the foremost concern, praising the industry’s progress in creating Immutable public ledgers while underscoring the need for enhanced confidentiality. The Midnight network seeks to balance transparency with privacy, offering a scalable framework resistant to the speculative excesses that have plagued earlier crypto projects.

Cardano’s Rally Hinges on Key Support Level Amid Exchange Outflows

Cardano (ADA) faces a critical juncture as it tests a pivotal support level following a 5.70% drop to $0.7709. The asset recently broke out of a multi-month falling wedge pattern on the 3-day chart, yet bullish momentum remains fragile. Retail long bias is elevated, but fading short-term activity undermines breakout potential.

Exchange data reveals $9.18 million in net outflows as of May 15, signaling possible accumulation. Such movements typically reduce immediate sell pressure, though failure to hold current support could accelerate downside risks. A sustained defense of this level may reignite upward trajectories toward $0.84 and beyond.

Cardano’s Road to $1: Key Factors for ADA’s Success

Cardano’s native token ADA has surged 30% monthly, peaking at $0.85 before settling at $0.78. Analysts eye a potential rally to $1 if it breaches the $0.81 resistance level.

A 70 million ADA transfer from Coinbase to an unknown wallet sparked whale activity speculation, while RSI signals suggest short-term pullback risks.

Cardano Founder Faces Legal Threat Over Alleged ADA Seizure

Charles Hoskinson, founder of Cardano, is under fire following explosive claims that he manipulated the blockchain to seize 318 million ADA tokens during the 2021 Allegra hard fork. The allegations, circulating on social media platform X, accuse Hoskinson of using Genesis keys to reroute early investor funds into Cardano’s reserves.

NFT artist Masato Alexander alleges the hard fork contained hidden code that erased original ICO allocations. "This wasn’t just a routine upgrade," Alexander stated, claiming the MOVE effectively confiscated investor assets. While promises were made to reissue funds, questions remain about the tokens’ current status.