Cardano Slips 3.5% as Midnight Sidechain and NIGHT Token Surge 507% After December Launch

On December 8, 2025, Cardano’s Midnight sidechain went live, and its NIGHT token has climbed 507% since December 9 while securing listings on major exchanges. Over the same period, ADA slid 3.5% to $0.3788, with one analyst eyeing a potential return to the $0.72 area by year-end 2025 despite Cardano’s TVL falling to $230 million from nearly $1 billion a year earlier.