Cardano Drops 10% as ADA Breaks Below $0.45, Midnight’s NIGHT Token Sinks Over 80% After Airdrop

On 11 December 2025, Cardano’s ADA fell around 10%, breaking below $0.45 and testing support near $0.43 amid broad crypto market weakness following the Federal Reserve’s rate cut, according to the article. Within the ecosystem, the Midnight network’s NIGHT token slid more than 80% from a speculative peak near $150 to about $0.05 as airdrop recipients rushed to sell. Derivatives data shows that roughly 54% of active ADA positions are now short, pointing to increasingly bearish sentiment. Analysts say buyers would likely need to reclaim the $0.438–$0.440 band to signal that the current sell-off is easing.