Cardano Whale Wallets Surge Amid Price Weakness

Large Cardano (ADA) holders have reached a four-month high of 424 wallets, each containing more than 10 million tokens. This increase in whale wallet count comes despite ADA's price remaining near multi-month lows.

The asset has dropped almost 42% in three months and about 53% over the past year. It currently trades around $0.24, roughly 11% above its 2026 low set on February 5.

Santiment noted that sustained accumulation during subdued pricing could eventually create a bullish divergence. However, ADA's share of total crypto market capitalization has collapsed from around 4.5% in 2021 to roughly 0.3% today.