On-chain data shows that Cardano sharks and whales have been quietly accumulating amid the market decline as its holdings hit a new record high.
Cardano sharks and whales pushed the supply to a new all-time high
In new mail On X, on-chain analytics company Santiment talked about the latest trend in supplying Cardano wallets to millionaires. A “Millionaire wallet“In the context of ADA it refers to an address containing 1 million tokens, worth approximately $262,400 at the current exchange rate. The pools that form part of this range are known as Sharks and whales.
Since investors with larger holdings have a greater potential impact on the market, owners who fall into this category are considered essential to the network. As such, the behavior of sharks and whales may be worth monitoring.
Now, here is the chart shared by Santiment that shows the trend in the total amount of supply held by millionaire Cardano wallets over the past few years:
The value of the metric seems to have been climbing in recent years | Source: Santiment on X
As shown in the chart above, Cardano sharks and whales have seen their supplies follow a very consistent upward trend since December 2023. During 2024 and 2025, the broader cryptocurrency sector has followed an upward trend, so it is not surprising to see large coin holders accumulating.
However, interestingly, the upward trend in the supply of ADA portfolios for millionaires has continued even during the downward turn in the market that has followed since the last quarter of 2025. The analytics firm noted:
Although the asset has lost -71% of its market value over the past nine months, the “millionaire” class of sharks and whales seems content to add more while prices are discounted.
After the recent continuation of the upward trajectory of the scale, its value reached the 25.09 billion ADA mark, a new all-time high (ATH). Although this is a record in terms of net number of tokens, it is not quite an ATH in terms of supply share. Cardano has seen its supply rise over the years, so today sharks and whales control about 67.47% of the cryptocurrency’s supply, which is below the 2020 highs.
In related news, Bitcoin Sharks and whales have also been involved in the buildup recently, Santiment explained in another X mail. For BTC, these investors correspond to the range of 10 to 10,000 coins.
As the chart below shows, these large investors added 50,241 BTC to their holdings over the past month, representing a 0.37% increase.
How the supply of the BTC sharks and whales has changed recently | Source: Santiment on X
While large holders were accumulating, small entities holding less than 0.01 BTC combined sold 29 BTC in this window instead. “Ideal conditions for any coin consist of large stakeholders continuing to add more to their portfolios, as retail FUD shows,” the analytics firm explained.
ADA price
At the time of writing, Cardano is trading at $0.264, down 1.9% over the past 24 hours.
The trend in the price of the coin over the last five days | Source: ADAUSDT on TradingView
Featured image by Dall-E, chart from TradingView.com
Editing process Bitcoinist focuses on providing well-researched, accurate, and unbiased content. We adhere to strict sourcing standards, and every page is carefully reviewed by our team of senior technology experts and experienced editors. This process ensures the integrity, relevance, and value of our content to our readers.
