Cardano whales reach record ADA holdings amid price slump
6.7 Markets Cardano whales now hold 67.47% of ADA’s supply, a record high, despite a 70% market cap drop. Whale accumulation and regulatory news drove an 11% rally, but price recovery remains uncertain.
Cardano's largest holders—those with at least 1 million ADA—have steadily accumulated tokens since December 2023. They now control 25.09 billion ADA, representing 67.47% of the circulating supply. This marks an all-time high and the greatest concentration since July 2020. This accumulation has continued even as ADA's market cap dropped over 70% in the past nine months, with prices remaining well below the 2021 peak and recently trading between $0.26 and $0.28. Technical analysis identifies key support at $0.24–$0.25 and resistance at $0.28–$0.33. An 11% rally in May 2026 was fueled by whale accumulation and positive regulatory changes, notably the revised CLARITY Act, which no longer classifies ADA as a security. While large holders show strong conviction, analysts warn that high wallet concentration does not guarantee a price recovery, though it may signal a compressed float and potential for future moves if accumulation persists.
