In today’s crypto news, Cardano whales are accumulating ADA at levels not seen since the project’s earliest years. According to new Santiment data, wallets holding at least 1 million ADA now collectively control 25.11 billion ADA. That marks the highest whale holdings level since December 2017.
Santiment also revealed that those wallets now control 67.49% of Cardano’s total supply. That is the highest concentration level since July 2020. The analytics platform described the trend as a strong long-term bullish signal because it signals conviction in the asset’s future.
Cardano Whale Accumulation Could Signal Bullish Sentiment
Santiment described the accumulation as a positive long-term signal for patient investors. The analytics firm explained that the whales steadily increased their holdings as smaller traders and short-term participants reduced exposure.
Large wallet accumulation often reflects growing confidence from those most invested in a project, even when retail traders lose interest. These larger holders typically possess deeper market insight and longer investment horizons.
However, whale accumulation alone does not guarantee immediate price recovery. ADA still faces weak momentum, broader macroeconomic uncertainty, and growing competition from faster-growing ecosystems.
ADA Struggles Despite Bullish Whale Signal
Despite the aggressive whale accumulation, ADA continues struggling across several major metrics. Price data shows that Cardano has lost over 70% of its market value from highs formed in October 2025. ADA also remains below several major moving averages, reflecting continued bearish momentum across higher timeframes.
Retail participation has weakened as well. Open interest and leveraged trading activity around ADA have cooled significantly compared to previous cycle peaks as traders rotate toward faster-moving sectors like AI, perpetual futures, and privacy tokens.
Meanwhile, Cardano’s broader DeFi ecosystem has slowed sharply. DefiLlama data shows Cardano’s total value locked (TVL) dropped from roughly $721 million near late-2024 highs to around $125 million, representing an over 80% decline.
DEX activity has also weakened considerably. During Cardano’s stronger expansion phase in late 2024, daily decentralized exchange volume climbed above $22 million while weekly DEX volume surpassed $117 million. However, current DefiLlama data shows Cardano’s daily DEX volume at roughly $1.64 million.
The contrast becomes even sharper against competing ecosystems. Ethereum regularly processes billions in daily DEX volume, while Solana frequently records hundreds of millions to over $1 billion during active trading periods. Meanwhile, Cardano’s daily chain fees currently sit at just $1,866, according to DeFiLlama metrics.
Temitope Olajide
