Cardano Whales’ Share of ADA Supply Rises to 67%, a Four-Year High

Cardano is a proof-of-stake blockchain, and ADA is its native token. The share of tokens held by large addresses can indicate the degree of supply concentration. Sustained whale accumulation is often viewed as a sign of long-term confidence, but excessive concentration can also amplify the impact that trades by a small number of holders have on market prices and liquidity.

The latest on-chain data show that whale wallets holding at least 1 million ADA collectively control about 25.09 billion tokens, or 67% of the supply, the highest share since July 2020. However, total value locked on Cardano has fallen sharply from its late-2024 peak to only about $137 million, highlighting a divergence between token concentration and capital activity within the ecosystem.