Recent events in the cryptocurrency market have negatively impacted Cardano, which is experiencing a price decline amid the NIGHT token airdrop.
Current Situation with Cardano
Currently, Cardano (ADA) has dropped 4.02% over the past 24 hours, continuing the broader decline in the crypto market. The latest token price stands at $0.72, after reaching a session high of $0.760. Increased volatility has been observed during this period, with a price fluctuation range of 5.32%, according to CoinMarketCap.
Launch of NIGHT Token Airdrop
The Midnight Foundation officially launched the NIGHT airdrop, targeting holders of ADA, BTC, ETH, XRP, and others. To qualify, wallets must have held at least $100 in supported assets during a verified snapshot. Eligible users can now claim tokens through the portal midnight.gd.
Ledger Issues and Cardano Team Response
Meanwhile, ADA holders using Ledger wallets have faced technical issues related to signing limits in Ledger's software. Cardano founder Charles Hoskinson addressed the situation, noting that CIP-8 signing only supports up to 31 bytes, while the airdrop payload is 251 bytes. To address this, developers will implement a workaround using null transactions with metadata. Hoskinson confirmed users would not lose eligibility and may return at the end of August to complete claims.
The NIGHT token airdrop, aimed at supporting private transactions, takes place amid the general decline in Cardano's price, raising concerns among users. The Cardano team is working to resolve the signing issues faced by Ledger wallet users.
