Cardano whales' holdings of ADA reached an All-Time-High as the price of ADA plummeted.

Wallets holding at least 1 million Cardano (ADA) Token have now accumulated a total of 25.09 billion ADA, reaching an all-time high, according to data from on-chain analytics firm Santiment.

This number represents 67.47% of the total circulating supply, the largest percentage held by " ADA millionaires" since July 2020.

"Even though ADA has lost -71% of its market Capital in the last nine months, the group of sharks and millionaire whales are still persistently buying more while the price is falling," Santiment commented.

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Small retail ADA wallets are bucking the trend.

Since the beginning of 2026 alone, this group of whales has purchased an additional 410 million ADA Token. They continue to buy despite the falling price of Cardano .

According to data from BeInCrypto Markets, the price of ADA has fallen by more than 20% in 2026 despite a recent short-term recovery. At the time of writing, this altcoin is trading at $0.267.

This accumulation trend is actually nothing new. Santiment previously pointed out that "sharks" have been consistently accumulating more since December 2023.

Conversely, smaller groups of wallets sold off ADA Token during the same period. Wallets holding between 100 and 1,000 ADA saw a decrease of 76.22 million Token, or 15.6%. Wallets holding between 1,000 and 10,000 ADA sold 320 million ADA , a decrease of 14.4%.

As retail investors sell and whales accumulate, the supply of ADA is shifting from weak hands to strong hands. Typically, these large investors are long-term investors, so they can support a price recovery for ADA if the overall market shows positive signs .

However, such a high concentration of ownership makes the Token price more sensitive to the actions of whales, especially when this group sells off when the market strengthens again.

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