Cardano Whales Quietly Accumulate 819M ADA as Price Drops 71%

While Cardano’s price has fallen sharply over the past six months, large holders appear to be moving in the opposite direction.

According to on-chain data, wallets holding between 100,000 and 100 million ADA have accumulated +819.4 million ADA during this period, worth roughly $213.9 million at current prices.

That increase represents about +1.6% of Cardano’s total circulating supply.

Price Down, Holdings Up

Over the same six-month window, ADA declined more than 71%, dropping from around $0.90 to $0.26.

Despite that drawdown, key whale and shark cohorts steadily increased their holdings:

• Total ADA held by 100K–100M wallets rose from 24.54B to 25.35B ADA
• Their share of total supply climbed from 66.84% to 68.44%

This divergence between price action and accumulation is notable.

What It Could Mean

When large holders accumulate during prolonged price weakness, it often suggests long-term positioning rather than short-term speculation.

Whales typically operate on multi-month or multi-year time horizons. Their accumulation during downturns can signal:

• Confidence in future recovery
• Perception of undervaluation
• Strategic supply absorption during capitulation phases

However, accumulation alone does not guarantee immediate upside. Prices can remain under pressure even while large players build positions.

Supply Concentration Is Increasing

With nearly 68.5% of supply now concentrated in 100K–100M ADA wallets, supply distribution is tightening.

If accumulation continues while new supply entering exchanges declines, it could eventually reduce available liquidity on the sell side.

For now, the key takeaway is simple: while retail sentiment has weakened alongside price, larger Cardano holders have been steadily buying the dip.

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