On-chain data from Santiment reveals a sharp divergence in Cardano's (ADA) holder behavior. Wallets holding between 100,000 and 100 million ADA, often classified as whales and sharks, have collectively accumulated more than 25.6 billion ADA—the highest level since February 2023. Over the past four months, these large holders increased their balances by 1.8%, absorbing significant supply while retail investors reduced exposure.
In contrast, wallets with fewer than 100 ADA saw their total holdings decrease by 0.7% over the same period. This shift occurred as ADA traded near multi-year lows, with smaller investors losing patience amid sustained price weakness. Santiment’s data underscores a growing confidence among high-value investors, who are building positions rather than exiting, even as the broader market remains cautious.
Meanwhile, Cardano’s development roadmap continues to progress. The Musashi Dojo testnet has been launched as part of the Leios scaling initiative, and work on Hydra and Mithril protocols remains underway. The Pyth Network oracle integration and new ecosystem funding further support network infrastructure. Additionally, the Cardano Foundation confirmed it will deliver the Cardano booth at Token2049 in Singapore, along with a Cardano x Draper x Bitcoin side event, signaling ongoing community engagement and governance.
