Cardano Whales Now Control 67% Of The Ada Supply

Large Cardano holders have quietly reached a historic milestone, collectively controlling roughly 67% of $ADA's circulating supply at a time when prices remain near multi-year lows.

Whales Absorb Record Supply Despite Price Weakness

Wallets holding at least 1 million ADA now reportedly control over 25.09 billion tokens, representing nearly 67.47% of the circulating supply. That marks the highest concentration since July 2020. The data was first flagged by on-chain analytics firm Santiment.

Santiment framed the move as a slow but steady accumulation trend dating back to December 2023, even as Cardano's market value has fallen sharply. The firm added that despite ADA losing 71% of its market cap over the past nine months, the "millionaire" tier of sharks and whales appears content to add while prices trade at a discount.

Wallets holding at least 1 million ADA now collectively hold 25.09 billion ADA, marking a new all-time high. An accompanying chart shows that their holdings have continued to expand since late 2023, climbing 14% from around 22 billion to their current level.

What the Signal Does and Does Not Mean

The divergence between large and small holders is notable. While retail traders continue contributing to selling pressure, on-chain data paints a completely different picture for large holders, with whale wallets continuing to accumulate ADA aggressively, signaling growing long-term confidence despite the weak price action.

The signal does not automatically mean ADA is ready to rally. Large-wallet concentration can show conviction, but it can also increase market sensitivity if those holders later distribute into liquidity.

Cardano still needs visible demand across transactions, DeFi liquidity, stablecoin depth, staking participation, and developer activity to turn holder concentration into a broader market recovery. For now, the on-chain picture is one of patient accumulation meeting hesitant price action, with the market yet to confirm whether the buying by large holders will translate into a sustained trend reversal.

Sources:
Cardano Whales Now Hold 67% Of ADA Supply Despite Market Cap Slide – Crypto Adventure
Cardano Whales Hit Record High Holding While Downside Risk Persists – FXStreet
Cardano Whales Accumulate Record ADA Holdings as Retail Selling Surges – Coinpedia