Charles Hoskinson has declared AI agents a core piece of infrastructure for Cardano's upcoming 'Midnight City' project, arguing the network needs them to organize and broadcast information. The statement comes as ADA trades around $0.160, down 1% on the day and roughly 84% below its August 2025 peak above $1.00. The 10-month slide has tested investor patience, but Hoskinson insists the technology roadmap is on track.
Why Hoskinson says AI matters
Speaking on the Input Output social channels, Hoskinson framed AI agents as essential for Midnight City, a sidechain focused on data privacy and smart contracts. He pointed to OpenClaw, an open-source agent project gaining traction, as evidence of where Cardano is heading. The claim isn't new — Hoskinson has talked up AI before — but tying it directly to a specific product launch gives the vision more concrete stakes.
ADA's 10-month slide
The numbers are brutal. ADA's relative strength index sits at 31, indicating persistent selling pressure without the kind of panic that usually marks a bottom. Immediate resistance is at $0.20, with the next ceiling around $0.25 to $0.27. Support holds at $0.155, and below that there's no structural floor. The van Rossem hard fork is cited as a secondary catalyst, but so far technicals alone haven't reversed the trend.
The synthetic influencer backlash
Hoskinson also had to defend Cardano's use of a synthetic AI influencer on the Input Output account after the community pushed back. He called it deliberate public experimentation. The move drew criticism from users who saw it as gimmicky, but Hoskinson appears unfazed, framing it as part of a broader push to test how AI interacts with crypto audiences.
Maxi Doge presale nears $5M
On Ethereum, a new meme token called Maxi Doge is closing in on a $4.8 million presale, with tokens priced at $0.0002825. The project features dynamic staking APY and targets high-conviction leverage traders with competitions and a treasury fund. It's a separate story from Cardano, but it underscores the continued appetite for speculative tokens even as blue chips like ADA struggle.
