Cardano Experiences a 4% Decline during NIGHT Airdrop Release, Encountering Ledger Support Problems
Cardano (ADA) holders using Ledger wallets have faced some challenges participating in the NIGHT token airdrop due to a technical constraint. The issue stems from Ledger's implementation of the Cardano Improvement Proposal CIP-8, which has a message size cap of 31 bytes, while the Glacier Drop airdrop requires a 251-byte signature payload.
This incompatibility blocks ADA Ledger users from verifying wallet ownership and completing claims on the Midnight platform during the initial airdrop phase. However, a workaround is in the works. Cardano founder Charles Hoskinson has announced that a solution involving signing a null transaction with embedded metadata is being developed. This fix will be incorporated into the claim portal by late August 2025, allowing affected Ledger users to eventually redeem their tokens without compromising wallet security.
The NIGHT token airdrop is a significant event for the Cardano ecosystem, as it allocates about half of the total 24 billion NIGHT tokens to ADA holders based on a June 11, 2025 snapshot. The initial claim window lasts 60 days, followed by additional phases to claim unclaimed tokens or late claims.
In the meantime, Cardano users are advised to consider alternative wallets like Input Output Global's Lace wallet, which fully supports the airdrop.
Elsewhere in the crypto market, Bitcoin is expected to break out, with a potential target of $116.5K for recovery. The bull run has surpassed 1000 days, and LD Capital has bullish projections for the market despite its volatility.
Meanwhile, Ethereum has reached a new price of $4,618, and derivatives trading volume reached 1.86 billion. The price of ADA met resistance and fell to $0.7196, below the key $0.7340 support.
The Midnight Network launched the NIGHT token airdrop, which is designed to power private transactions and generate DUST. NIGHT is expected to play a crucial role in the growing privacy-focused ecosystem on the Cardano blockchain.
Lastly, a large Ethereum holder has sold 6,314 ETH, potentially affecting the market. Huang Licheng incurred a loss of $18.5 million from his crypto trades, while Dogecoin is experiencing a price rebound, though the current price is not provided.
[1] The Ledger wallet signing limitation and the NIGHT token airdrop [2] Cardano founder addresses Ledger wallet issues with NIGHT token airdrop [3] Technical details of the Ledger wallet and NIGHT token airdrop incompatibility [4] Input Output Global's Lace wallet as an alternative for the NIGHT token airdrop [5] Details of the NIGHT token airdrop allocation and claim periods
- Due to a technical constraint in the implementation of Cardano Improvement Proposal CIP-8, Ledger wallet users are currently unable to verify wallet ownership and complete the NIGHT token airdrop claims, as the message size cap of 31 bytes conflicts with the 251-byte signature payload requirement.
- In response to the issue faced by Ledger wallet users during the NIGHT token airdrop, Cardano founder Charles Hoskinson has announced the development of a solution that involves signing a null transaction with embedded metadata, which will be incorporated into the claim portal by late August 2025, therefore allowing affected users to redeem their tokens without compromising wallet security.
