At a Glance
- Cardano‘s foundation just delegated $80 million in ADA to community representatives.
- The move lifts total community delegation to 360 million ADA.
- Midnight sidechain partners with AlphaTON Capital, linking TON and privacy tech.
- Why it matters: Strengthens governance, expands privacy tools, and signals renewed investor interest.
Cardano’s ecosystem is rapidly expanding beyond its native token. Recent moves by the foundation and new partnerships in the privacy space signal a shift toward deeper decentralization and broader utility.
Cardano Foundation Delegation Milestone
The foundation announced a new roadmap last year, outlining six key objectives. CEO Frederik Gregaard confirmed that the first milestone-delegating additional ADA-has been reached.
- 220 million ADA (worth almost $80 million) were delegated to 11 community DReps.
- These DReps focus on adoption and operations, adding diversity to governance.
- Total community delegation now stands at 360 million ADA.
- Gregaard emphasized that the foundation’s self-delegation approach ensures all assets participate in voting.
> “The process is a show of trust and aims to strengthen the entire community,” Gregaard said.
Selected DReps include Ha-Nguyen, Florian Volery, Phillerino, Martin Lang, Pooltool, and others. The delegation demonstrates the foundation’s commitment to distributing voting power and reinforcing ecosystem resilience.
Delegation Snapshot
| Category | ADA Delegated | Value (USD) |
|---|---|---|
| Foundation to DReps | 220 million | $80 million |
| Total Community Delegation | 360 million | – |
Midnight and TON Integration
Midnight, Cardano’s privacy-focused sidechain, launched in December last year. Its native token, NIGHT, now powers zero-knowledge smart contracts.
AlphaTON Capital, linked to Telegram’s TON blockchain, has joined forces with the Midnight Foundation. This collaboration is the first integration of a zero-knowledge chain with the TON ecosystem.
- Enables AlphaTON to deliver privacy-preserving AI products to Telegram’s nearly one billion users.
- Midnight Foundation President Fahmi Syed highlighted the partnership’s potential:
> “The next great leap for the Internet isn’t more speed or more content, it’s the restoration of personal agency. Utility should not come at the expense of privacy and ownership… The partnership is a powerful example of how decentralized technology can be scaled to meet real-world demand,” Syed said.
Trading platforms are beginning to list NIGHT. eToro, Bybit, and HTX now offer the token, though NIGHT remains down 22 % monthly and its market cap is below $1 billion.
Timeline of Key Events
| Date | Event |
|---|---|
| December 2023 | Midnight sidechain launched |
| Early 2024 | AlphaTON partners with Midnight Foundation |
| March 2024 | Foundation delegates 220 million ADA |
Market Performance and Outlook
Cardano’s native token, ADA, has been under pressure amid broader market softness and geopolitical tensions. Current price hovers around $0.36, down 11 % in the past week.
Despite the dip, some analysts remain bullish. Marcus Corvinus on crypto X suggested a potential move to the $0.53 resistance level if demand holds around $0.33-$0.36.
Additionally, whale activity shows promise. Recent purchases exceed 200 million tokens, indicating possible groundwork for a rally.
Price & Volume Snapshot
| Metric | Value |
|---|---|
| ADA Price | $0.36 |
| Weekly Change | -11 % |
| Whale Purchases | 200 million ADA |
| Resistance Target | $0.53 |
Key Takeaways
- The foundation’s $80 million delegation to community DReps marks a significant governance boost.
- Midnight’s partnership with AlphaTON brings privacy tech to a massive user base.
- ADA’s current price weakness is countered by bullish whale activity and analyst optimism.
- Investors should monitor delegation trends, partnership developments, and price support levels.
This article is based on a report by Jonathan P. Miller and distributed by News Of Los Angeles.
