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Cardano wallets holding at least 1 million ADA now account for 25.09 billion tokens, or 67.47% of supply, according to Santiment data cited in market reports.
The figure may include exchanges, custodians or pooled holdings, so it does not necessarily represent individual whale ownership. Still, the concentration marks the highest share for that wallet tier since July 2020.
25.09B ADA Sits in Million-Token Wallets
Large Cardano wallets have continued adding since December 2023, even as ADA’s market value fell sharply over the same period. Reports said the million-ADA wallet cohort now holds a record 25.09 billion ADA after continuing to accumulate through a prolonged downturn.
The data suggests bigger wallets have been absorbing supply rather than distributing into weakness. That gives traders a clear on-chain signal to watch as ADA tries to recover from recent lows.
67.47% Whale Share is Not Automatically Bullish
A rising whale-wallet share can point to conviction from larger holders, especially when accumulation continues during a drawdown. But higher concentration also carries risk. If large wallets begin selling into strength, ADA could become more exposed to sharp moves from a smaller group of holders.
For now, the data shows concentration, not a confirmed rally signal. ADA still needs stronger spot demand, higher volume and clearer price follow-through before the accumulation trend can support a durable recovery.
$0.33 and $0.42 Remain Key ADA Levels
Some market commentary has linked the accumulation trend to improving technical signals. Analyst Ali Martinez highlighted a daily SuperTrend buy signal, while traders are watching resistance levels around $0.33 and $0.42.
Those levels matter because whale-wallet accumulation alone is not enough to confirm broader market strength. ADA would still need sustained buying above key resistance zones to show that demand is widening beyond long-term holders.
ADA Still Needs Broader Market Participation
The main takeaway is that large Cardano wallets are holding a growing share of supply while wider market participation remains limited. If demand improves and large holders keep ADA off the market, the concentration could support a stronger rebound.
If demand stays weak, the 67.47% figure may simply show that ADA ownership has become more concentrated during a softer part of the cycle. For now, Cardano’s whale-wallet data is a market structure signal, not proof that an immediate rally has started.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.