ADA Whales Hit Record Holdings as Millionaire Wallets Reach 2017 High
On-chain data from Santiment shows Cardano (ADA) “millionaire wallets” (addresses holding at least 1 million ADA) have reached their highest level since December 2017. As of May 28, ADA whales hold about 25.11B ADA, controlling over 67% of circulating supply—an accumulation trend that accelerated over the past two years even as the broader market has stayed weak.
At roughly $0.23 per ADA, the whale holdings are valued near $5.77B. Santiment interprets the continued ADA accumulation as a confidence signal: when key stakeholders keep buying, it can suggest conviction and potential support for dips.
The latest report also links the buy pressure to Cardano network credibility catalysts, including decentralization-related upgrades such as the Chang Hard Fork and Goguen, plus improving U.S. regulatory clarity. It further highlights a potential 2026 “Clarity Act,” which could boost sentiment.
For traders, the near-term setup remains mixed: support is cited around $0.23, but an AI model scenario flags downside risk toward about $0.208 by late June 2026. Watch whether sustained ADA whale accumulation can offset broader risk-off moves.
Neutral
ADA whale accumulation is a constructive on-chain support factor, but the summaries stress that near-term price action may still be constrained by the broader market environment. Santiment’s record-high millionaire wallet holdings suggest deeper conviction and can help absorb selling during dips. However, even with potential regulatory catalysts and Cardano upgrades, the reported uncertainty (including an AI downside scenario toward ~$0.208) implies that traders should not assume an immediate trend reversal. Net effect for ADA is therefore more supportive than bullishly decisive, making the impact closer to neutral.