- Cardano’s Charles Hoskinson refutes token hoarding rumors.
- 1.3 billion NIGHT tokens claimed by 69,000 plus wallets.
- ADA price rises 15% amid market optimism.
Cardano founder Charles Hoskinson has denied rumors of Midnight token hoarding amid the ongoing Glacier airdrop, where over 1.3 billion tokens have been claimed by retail participants.
The event underscores a retail-focused distribution, excluding insiders, boosting Cardano’s ADA by 15% due to market confidence and heightened on-chain activity.
Cardano founder Charles Hoskinson has denied rumors of insider hoarding of Midnight tokens amidst the Glacier airdrop. The airdrop showcases a retail-focused distribution model with no insider or VC allocations, reflecting strong retail interest.
Hoskinson is actively involved, refuting these rumors publicly and emphasizing Midnight’s broad distribution.
The chairman insists on the transparency of the distribution model excluding institutional players, contrasting traditional industry practices.
The airdrop’s success has led to an increase in ADA’s price by over 15%, driven by heightened on-chain activity. Over 69,000 wallets have claimed NIGHT tokens, showing enthusiastic participation from ETH and BTC holders.
Financially, the absence of a typical institutional approach with VC funding has accentuated retail and community-based efforts. The market has perceived these actions positively, boosting confidence in Cardano’s decentralized ventures.
Historically, such airdrops have faced scrutiny, but Cardano’s approach remains distinct, drawing interest with minimal regulatory concern. ADA holders benefit from increased liquidity as the initiative promotes cross-chain integration.
The strategy sets a precedent for transparency, potentially affecting future token launches and regulatory policies. Night tokens’ popularity indicates potential technological advances in privacy solutions within Cardano’s ecosystem. Charles Hoskinson, Founder, Cardano, said, “Midnight will be the largest, most prominent, most traded, and highest volume Cardano native token in circulation.”
