Cardano Whale currently holds over 67% of the ADA supply, a new high since 2020.

CoinFeed reported on May 15th that, according to CoinDesk, Santiment data shows that wallets holding at least 1 million ADA currently control 25.09 billion ADA, representing 67.47% of the total supply, the highest level since July 2020. This accumulation trend has been ongoing since December 2023, while ADA's market capitalization has fallen by 71% over the past nine months, indicating that large holders are buying during periods of price weakness. Meanwhile, Cardano's DeFi activity has declined significantly, with total locked value dropping from a peak of approximately $686 million in December 2024 to $137 million, a decrease of 80%. Daily DEX trading volume is only $1.95 million, and there are approximately 16,000 active on-chain addresses in 24 hours.