Cardano Whales Dominate Token Supply Amid Prolonged Market Correction

The Cardano (ADA) ecosystem is witnessing an unprecedented accumulation wave, with major wallet holders amassing 67.47% of the total supply.

This concentration level, which represents a significant milestone since July 2020, has been consistent since December 2023, coinciding with an extended market correction that has seen ADA's market valuation plummet by 71% in nine months.

The data from Santiment analytics reveals that addresses holding at least one million ADA tokens have secured control over 25.09 billion tokens, a stark contrast to the network usage and DeFi indicators, which have contracted significantly.