Cardano’s largest holders have continued adding ADA through a deep market drawdown, with wallets holding at least 1 million tokens now controlling 25.09 billion ADA.
Santiment said the balance held by those large wallets equals 67.47% of the current existing supply. The on-chain analytics firm framed the move as a slow but steady accumulation trend dating back to December 2023, even as Cardano’s market value has fallen sharply.
“Wallets with at least 1M tokens now hold 25.09B ADA, which translates to 67.47% of the current existing supply,” Santiment wrote. 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.
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. For now, the data shows that the biggest ADA wallets have been taking more supply off the open market while price action remains weak.
Cardano has not followed the accumulation trend with a strong price recovery. CoinGecko placed ADA near $0.26 with a market cap around $9.7 billion, leaving the token far below its 2021 all-time high and outside the top tier of crypto assets by valuation.
That gap between accumulation and price performance is the main tension in the setup. Whale buying can support a bottoming structure when it reduces available supply and improves confidence. It can also remain invisible in price for long periods if broader liquidity, network activity, and speculative demand stay weak.
A similar pattern appeared earlier this year when Cardano whale wallets hit a four-month high while ADA remained under pressure. That prior move showed that large-holder accumulation alone was not enough to separate ADA from the wider altcoin market.
Cardano’s latest data now extends that theme. The largest wallets are building exposure, but the market has not yet rewarded the trend with a clean reversal. Traders are likely to watch whether whale accumulation starts aligning with higher spot volume, stronger on-chain activity, and a more constructive technical structure.
The 67.47% figure also raises a market-structure question. Concentrated supply can help support price if major holders are long-term aligned, staking, or reducing sell pressure. It can also create risk if a small number of large wallets gain too much influence over liquidity and future distribution.
For ADA, the immediate question is not only how much whales hold, but whether their accumulation coincides with stronger network use. 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.
Santiment’s chart gives traders a clear on-chain signal: large ADA wallets are holding more supply than they did before the drawdown intensified. The next price confirmation would require ADA to turn that supply absorption into stronger bids, improved volume, and a break from the weak market-cap trend that has dominated the past nine months.
The post Cardano Whales Now Hold 67% Of ADA Supply Despite Market Cap Slide appeared first on Crypto Adventure.
