Cardano (ADA) News today: January 22

Check out the recent news and developments surrounding the Cardano ecosystem.

The road map

Last year, the Cardano Foundation announced the next evolution of its roadmap, which includes six key points. Earlier this week, CEO Frederik Gregaard said revealed that the team has reached the first milestone in the process.

Specifically, the Cardano Foundation has delegated an additional 220 million ADA (worth almost $80 million) to 11 delegated representatives, focused on the pillars of adoption and operations.

The latest move brings the total delegation to community DReps to 360 million tokens, described as “a testament to our belief in distributing voting power to strengthen the resilience and diversity of thought in the Cardano ecosystem.”

Gregaard revealed that the team will also update the self-delegation approach to ensure that all Foundation resources actively participate in governance. The process is “a vote of confidence” and aims to strengthen the entire community. Some of the selected DReps include Ha-Nguyen, Florian Volery, Phillerino, Martin Lang, Pooltool and others.

The progress of midnight

Midnight is Cardano’s privacy-focused sidechain, designed to enable smart contracts using zero-knowledge technology. It officially went live in December last year, while the original token is called NIGHT.

Just a few days ago, AlphaTON Capital (a company tied to Telegram for building and investing in projects on the TON blockchain) brought together with Midnight Foundation – an organization dedicated to the development and adoption of the Midnight network.

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The partnership marks the first integration of a zero-knowledge blockchain with the TON ecosystem and enables AlphaTON Capital to deliver privacy-preserving AI products to Telegram’s nearly one billion users.

“The next big leap for the internet is not more speed or more content, but the restoration of personal choice. Utility should not come at the expense of privacy and ownership… The partnership is a powerful example of how decentralized technology can scale to meet real-world demand,” said Fahmi Syed, president of the Midnight Foundation.

Meanwhile, eToro became the latest trading platform to embrace the NIGHT token. Other reputable exchanges offering trading services for the asset include Bybit and HTX. Despite this, NIGHT is down 22% month-over-month, while its market cap has fallen below $1 billion.

ADA Price Outlook

Cardano’s native token has also underperformed recently, echoing the broader market’s bearish environment driven by global geopolitical tensions. At the time of writing, ADA is trading around $0.36, down 11% in the past week.

Nevertheless, many crypto X analysts remain optimistic. Marcus Corvinus for example, in mind a push towards the $0.53 resistance level if the demand zone holds around $0.33-$0.36.

Meanwhile, the Cardano whales recently purchased over 200 million tokens, which is a bullish factor that could foreshadow a potential rally.