ADA Token Slides 5.97% Amid Fed Policy Shift but Network Activity Surges with Midnight Launch

ADAUSDT has declined by 5.97% over the last 24 hours, with the price falling from 0.4520 to 0.4250 on Binance. This downturn is primarily attributed to bearish market sentiment following the U.S. Federal Reserve's hawkish policy stance, which impacted risk assets and led to reduced open interest and fewer long positions in derivatives trading. Despite the price drop, Cardano’s network activity has increased, with notable events including the launch of the Midnight sidechain ($NIGHT token) and high transaction volumes post-macroeconomic policy announcements. Cardano’s market remains active, with trading volume between $1.07 billion and $1.24 billion, a circulating supply of around 36–37 billion ADA, and a current market capitalization estimated between $14.95 billion and $15.34 billion.