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The more it drops, the more you buy! Cardano "whale" quietly accumulates, controlling 67% of the circulating supply, reaching a four-year high.
Cardano (ADA) has recently been playing a highly contradictory game: on one hand, the tokens are highly concentrated among a few "whale" major holders, and on the other hand, the on-chain ecosystem is increasingly depleted. Data shows that wealthy whales have quietly accumulated coins for up to 2 years, now controlling nearly 70% of the total ADA circulation on the network.
On-chain data analysis firm Santiment revealed that whale wallets holding at least 1 million ADA currently hold a total of as many as 25.09 billion tokens, accounting for 67.47% of the total circulating supply. The concentration of large holders' chips is at its highest since July 2020, and this trend of hoarding coins has never stopped since December 2023.
🤑 Cardano’s key stakeholders have slowly but surely
ADA-1.91%
ETH-1.2%
SOL-1.07%
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