Cardano’s on-chain data indicates that the network saw a spike in the number of large wallets in the past couple months. This is a clear sign big money has been flowing in.
Cardano wallets with more than 10 million tokens have grown in number
Santiment’s on-chain analytical firm in an X postCardano whales are at a record high for the past four months. Here, the interest is reflected in “Supply Distribution,”This is the number of coins that are in a specific coin group.
The number of tokens in an investor’s balance is used to divide them into cohorts. For example, the 1-10 coins group includes addresses that hold between 1 and 10 ADA.
The cohort that is of most interest in the present topic has a limit lower than 10 million ADA, but no limit upper. Its cut-off is $2.4 million at the current rate of exchange, a substantial amount. The only way to get it is if you have a lot of money. These investors are commonly known as whales.
Here is the graph shared by Santiment, which shows the distribution of Cardano Whales in recent months.
Cardano Supply Distribution, shown above in graph form, has risen for holders of 10,000,000+ ADA recently. This suggests that there are new traders who have entered the Cardano Network.
In the nine previous weeks, this indicator increased by 5.2% and reached a maximum of 424. It is the highest number of whales since 6th Dec. The presence of more whales on the ADA network can have a bullish effect for cryptocurrency. “Even though it has not decoupled from other altcoins yet in 2026, its market value is +11% since it bottomed out back on February 5th,”The analytics company explained.
Though, while whales have have been flowing into the network over the last couple of months, the Supply Distribution could still be to keep an eye on, as it often doesn’t take much for a quick reversal to occur. From the chart, it’s visible that the metric saw a sudden plunge back at the end of January, coinciding with the market crash.
Cardano isn’t the only altcoin that has witnessed movement from the whales recently. Analyst Ali Martinez pointed this out in an X postLast week, 500,000,000 tokens were bought by Dogecoin whales.
The DOGE was being squeezed by the classic DOGE price. Bollinger Bands. “When whales buy during a squeeze, they are usually positioning for the breakout,” noted Martinez.
Price ADA
Cardano’s price is hovering around $0.24 at the moment of this writing. This represents a drop of more than 4% over the past 24 hours.
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Source: www.newsbtc.com
