Author：Encryption Tracker
The largest Cardano whales are on the rise, as the number of addresses holding at least 10 million ADA spikes to a four-month high.
While some panicked, smart money users are making major moves on Cardano (ADA). This trend has become evident in the increase in the number of wallets holding at least 10 million ADA tokens between December and now.
Key Points
- The number of addresses holding a minimum of 10 million ADA tokens has surged to a four-month high.
- Wallets in this category rose 5.2% in 9 weeks to reach 424.
- ADA is down 26.7% year-to-date, yet since its February 6 low, its valuation has added over 11%.
- The Cardano network processed over 4 billion ADA in transactions over the past five days, culminating in $1 billion in on-chain volume.
- A combination of strong network transaction volume and whale accumulation favors Cardano’s price.
Cardano Whales Rise 5% in 9 Weeks
Santiment identified this trend in a recent X post. The market intelligence platform noted that the number of addresses holding a minimum of 10 million ADA tokens has surged to a four-month high of 424.
Notably, ADA trades at $0.243 at the time of writing. While it has declined consistently over the past four months, it would require an average of $3.5 million to buy 10 million ADA during this period. This is a massive bet on ADA, one that comes only with conviction of its price potential.
Santiment highlighted that the last time such a number of whales held 10 million ADA was in December 2025. Amid the downturn since then, as prices trended lower, wallets in this category dropped. However, interest seems to be returning, as the largest Cardano whales are back buying the dip.
Notably, wallets in this category rose 5.2% in 9 weeks to reach 424, reflecting the recent shift from distribution to accumulation among ADA whales. An accompanying chart further confirms the growth from around 402 wallets holding 10+ million ADA in late January to the current figure.
Cardano Valuation Adds 11% Despite Bearish Trend
Furthermore, Santiment highlighted that while Cardano has joined the broader altcoin market’s underperformance from the start of 2026, its price and valuation have gained significantly from recent lows.
Per CoinMarketCap, ADA is down 26.7% year-to-date. Yet from its low on February 6, its valuation has added over 11%. The price has also followed suit, rising 10.4% from $0.22 to $0.243. At its peak rebound of $0.313 on February 25, it represents a 42% increase.
4 Billion ADA Transactions in 5 Days
Elsewhere, TapTools also highlighted another bullish development for the Cardano ecosystem. The network processed over 4 billion ADA in transactions over the past five days, culminating in over $1 billion in on-chain volume.
The notable transaction increase suggests strong network activity on Cardano, undermining the “ghost chain” narrative surrounding the blockchain. Such substantial on-chain activity reflects its utility, as users leverage its low fees and swift transaction features to move value.
Notably, a combination of strong network transaction volume and whale accumulation favors Cardano’s price. It has also held above key support levels, keeping the prospect of a recovery alive as the broader market stabilizes.
