Crypto
Cardano Whale Wallets Surge Amid Token's 42% Price Plunge
Cardano's (ADA) large investor base has reached a four-month high of 424 wallets holding more than 10 million tokens each, despite the asset's price hovering near multi-month lows.
The number of whale wallets increased by 5.2% over nine weeks, according to Santiment data released on Tuesday.
ADA trades around $0.24, approximately 11% above its 2026 low set on February 5. The asset has dropped almost 42% in three months and about 53% over the past year.
The token's price remains below its all-time high of $3, reached four years ago, and its dominance in the crypto market capitalization has collapsed from around 4.5% in 2021 to roughly 0.3% today.