Cardano news today is being defined by two contrasting forces: a wave of genuinely significant ecosystem development and a brutal price slide that has erased roughly 25% of ADA’s value this October alone. The headline story on October 29 is the Midnight Network’s new privacy partnership with Sig Network — but for holders watching their portfolios, the macro-driven selloff is equally impossible to ignore.
Charles Hoskinson, the founder of Cardano, welcomed Ethereum to the Midnight Network following a formal partnership between Sig Network and the Midnight Foundation.
The deal, announced on October 28, is a notable step in Midnight’s ambition to become a cross-chain privacy layer rather than an isolated sidechain.
Sig Network enables Ethereum applications to access Midnight’s privacy infrastructure while keeping their assets on Ethereum, with its signing technology allowing a Midnight smart contract to control an Ethereum account and authorize transactions through a threshold of independent signers.
Crucially,
the underlying assets remain on Ethereum, eliminating the need to bridge or wrap them for the integration.
In practice, this means popular Ethereum DeFi applications could gain a privacy layer without their users abandoning the chain they already trust.
Sig Network is already live on Midnight’s stagenet, supporting deposits, Uniswap swaps, and Aave lending and withdrawals.
The partnership also builds in
selective disclosure and compliance controls, allowing applications to reveal only relevant information without exposing users’ entire financial activities publicly.
That said, caution is warranted:
the integration remains at the stagenet stage, and no mainnet date has been announced.
This news comes on top of already-strong momentum from Midnight’s mainnet.
Midnight Network has surpassed 1 million mainnet transactions within seven months of launch, as on-chain activity surged by 26,508% over the past month.
At press time, the Midnight network had recorded 1,094,866 transactions and deployed 1,434 smart contracts, according to data from Midnight Explorer.
Separately, the broader Cardano protocol is pressing ahead with institutional tokenization.
On October 7, developers launched the implementation of the programmable token standard CIP-0113 on the Cardano mainnet, with issuers now able to embed KYC/AML checks, sanctions restrictions, transfer rules, and mechanisms for freezing and forced seizure into issued assets.
This week,
the ecosystem is hosting two key events centered on CIP-0113, including a regulated assets roundtable on October 29 featuring speakers from Encryptus Global, Brale, and the Cardano Foundation.
On the governance front, there is a notable change coming for stakers.
EMURGO, a founding entity, and the Yoroi wallet have announced they will deregister their Delegated Representative roles on 30 November 2026.
Users who have delegated their stake to either DRep must redelegate to another active representative before the deadline to continue earning staking rewards and participating in governance.
Anyone staking through Yoroi should take note of this date.
For traders, the picture is harsher.
Cardano fell below $0.2000 on Thursday as selling spread across cryptocurrency markets following the Federal Reserve’s decision to leave interest rates unchanged, with ADA trading around $0.1970 — down more than 4% on the day and approximately 25% since the beginning of October.
The derivatives market confirms that bulls are losing the battle:
CoinGlass data shows $338 million in total market-wide liquidations over the last 24 hours, led by $186 million in long liquidations.
In ADA specifically,
Cardano recorded $2.75 million in liquidations during the same period, including $2.36 million in longs.
ADA futures open interest fell more than 5% over 24 hours to $444 million
, a sign that traders are reducing their exposure rather than doubling down.
Technically, the level to watch is now $0.1894.
A break below $0.1894 could expose support at $0.1712 and $0.1537, while major resistance sits near $0.2223.
The RSI paints a similarly cautious picture:
the 50-day and 200-day moving averages act as overhead resistance near $0.22 and $0.24, with the Relative Strength Index at 35 indicating bearish momentum.
What to watch next: whether the $0.19 support floor holds heading into November, whether Sig Network’s stagenet Ethereum integration progresses toward a mainnet announcement, and how the Cardano community votes on a pending 9.6 million ADA treasury proposal to expand a blockchain-based police evidence system. The development story for Cardano has rarely been busier — but the market, for now, isn’t rewarding it with price.
This article is for information only and is not financial advice. Crypto prices are volatile; always do your own research.