"A Multitude of New Users Joins Cardano, as Charles Hoskinson Boasts About Growth"
Cardano's Glacier Drop Attracts Thousands of New Users
Charles Hoskinson, the founder of IOG, has announced a significant milestone for the Cardano blockchain with the successful Glacier drop of NIGHT, the native token of the Midnight blockchain running on Cardano. This event has brought over 35,000 new users to the Cardano blockchain, organically attracting a substantial influx of participants from multiple major blockchains [1][2].
The Glacier drop distributed 739 million NIGHT tokens to users who held assets across eight blockchains, including Bitcoin, Ethereum, Solana, Binance Chain, Cardano, Avalanche, Ripple, and Brave. The phased airdrop structure, which includes a Claim Phase, Scavenger Mine phase, and Lost-and-Found phase, incentivizes continued engagement and on-chain activity [1][3].
This influx of new users has resulted in a surge of 4% in the price of ADA, the native cryptocurrency of the Cardano blockchain, overnight at launch. The overall price surge of ADA since Wednesday has constituted 13.61% [4].
The airdrop of NIGHT is not the only method being used to attract new users to the Cardano blockchain. It is a part of the overall strategy of IOG to expand the user base [5]. The event extends Cardano’s ecosystem by funneling new users towards its privacy-first smart contract platform, boosting potential developer and decentralized finance activity supported by a recently approved $71 million ecosystem development fund [5].
In the past 24 hours, ADA price has surged by 3.89%, going from $0.7812 to $0.8190. This price increase coincides with Hoskinson's tweet about the Midnight milestone [6]. The influx of new users to the Cardano blockchain is attributed to the organic reach of the airdrop rather than traditional marketing [7].
The second screenshot shared by Hoskinson shows that Cardano is a clear leader in NIGHT token distribution on various blockchains, with a 63% reading [8]. The total claims for NIGHT represent a significant onboarding of new users to the Cardano blockchain, bringing in a ton of new people, as stated by Hoskinson [9].
References:
- Medium: Midnight Network
- Cointelegraph: Cardano's Midnight Network Airdrops 739 Million NIGHT Tokens
- Binance: Midnight Network Glacier Drop
- CoinMarketCap: ADA Price Chart
- IOG: Cardano's $71 Million Ecosystem Development Fund Approved
- Twitter: Charles Hoskinson
- Cointelegraph: Cardano's Midnight Network Airdrop Attracts Thousands of New Users
- Twitter: Charles Hoskinson
- Twitter: Charles Hoskinson
- The successful Glacier drop of NIGHT, a token running on the Cardano blockchain, has attracted over 35,000 new users from various major blockchains, including Bitcoin and Ethereum, setting a significant milestone in crypto trading.
- The influx of new users to the Cardano blockchain has resulted in a surge of nearly 14% in the price of ADA, its native cryptocurrency, demonstrating the potential of blockchain technology in driving Token and trading activities.
- The airdrop of NIGHT tokens is not only boosting Cardano's user base but also extending its ecosystem, funneling new users towards its smart contract platform, encouraging further engagement in decentralized finance activity, and supporting potential development funded by a recent $71 million ecosystem development fund.
