Whales Continue to Buy Cardano Amidst Market Pressure

Despite Cardano's ADA price staying under pressure, large holders have been steadily increasing their holdings since February 2023. According to on-chain data from Santiment, wallets holding between 100,000 and 100 million ADA now own more than 25.6 billion coins, the highest amount held by that group in over a year.

This trend is contrary to smaller investors, who have been reducing their holdings of ADA crypto. Wallets with less than 100 ADA now hold about 0.7% fewer coins than they did four months ago, indicating some retail investors are leaving the market while bigger holders continue to add more.

Charles Hoskinson has responded to criticism over SBI Holdings' partnership with Solana by stating that commercial partnerships should come through Cardano's on-chain treasury instead of being secured directly. This comment has sparked fresh discussions about governance, funding, and how Cardano can attract more projects in the future.