Cardano (ADA) whales, addresses with at least 1 million tokens, have continued to steadily accumulate despite price depreciation over the past months.
The Cardano whales have gradually accumulated more tokens since late 2023, currently holding 25.09 billion units, valued at about $6.52 billion at press time, according to on-chain data from Santiment analyzed by Finbold on May 14. As of the time of publication, this group of investors now controls approximately 67.47% of ADA’s total supply.
Despite ADA price being trapped in a multi-month bear market since December 2024, whereby it has dropped over 77%, these large investors have slowly been purchasing more tokens to reach their all-time high (ATH). As such, they have shown strong conviction in the network’s growth as a robust smart contract ecosystem.
Furthermore, the Cardano network could achieve significant regulatory certainty if the Clarity Act – a proposed U.S. federal law for legalizing crypto assets – is enacted before the end of 2026.
Cardano price analysis amid ongoing notable demand from whales
Cardano price has signaled a potential rebound in the near future, potentially catalyzed by the significant demand from whale investors. From a technical analysis standpoint, the ADA/USD pair on the weekly timeframe recently rebounded from a crucial support level around $0.24, which held during the 2022 bear market.
Since hitting its ATH of slightly above $3 during the 2021 bull run, the ADA price has been forming a descending triangle. As such, if the Cardano whales continue to gradually accumulate tokens in the near future, amid other supportive macroeconomic backdrops, this altcoin could rebound towards its resistance trend line within the multi-year descending triangle. However, if these whale investors slow the pace of their accumulation, the ADA price could breach its support trend and capitulate further.
