Cardano Whale Holdings Hit All-Time High as ADA Price Tumbles

Wallets with at least 1 million Cardano (ADA) tokens now hold 25.09 billion ADA, the highest combined balance on record, according to on-chain analytics firm Santiment.

That balance gives the cohort 67.47% of the circulating supply, the largest share held by ADA millionaires since July 2020.

“Although the asset has lost -71% of its market cap over the past 9 months, the “millionaire” tier of sharks and whales appear to be content with adding more while prices are at a discount,” Santiment said.

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Smaller ADA Wallets Move in the Opposite Direction 

Since the start of 2026 alone, the cohort has added another 410 million tokens. The buying has continued despite Cardano’s price decline. 

BeInCrypto Markets data showed that ADA is down more than 20% in 2026 despite a recent short-term recovery. At press time, the altcoin traded at $0.267.

The accumulation trend is not new. Santiment noted that the key stakeholders have been “consistently adding more and more of the existing supply” since December 2023.

In contrast, smaller cohorts have shipped tokens from their wallets during the same window. Wallets holding 100 to 1,000 ADA shed 76.22 million tokens, a 15.6% drop. The 1,000 to 10,000 tier released 320 million ADA, or 14.4%. 

When retail sells, and whales accumulate at the same time, supply transfers from weaker hands to stronger ones. Large holders typically operate on longer time horizons, which can support a recovery if broader market conditions improve. 

However, concentrated ownership also increases the token’s sensitivity to whale behavior, particularly if those holders later distribute into market strength.

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