ADA whales don hit record holdings as millionaire wallets reach 2017 high
On-chain data from Santiment show say Cardano (ADA) 'millionaire wallets' (addresses wey get at least 1 million ADA) don reach the highest level since December 2017. As of May 28, ADA whales get about 25.11B ADA and dem dey control over 67% of circulating supply—accumulation trend wey don speed up for the past two years even as the wider market don weak. For roughly $0.23 per ADA, the whales' holdings dey valued near $5.77B. Santiment interpret the continued ADA accumulation as confidence signal: when key stakeholders dey keep buying, e fit mean strong belief and possible support for dips. The latest report also link the buy pressure to Cardano network credibility catalysts, including decentralization upgrades like Chang Hard Fork and Goguen, plus better U.S. regulatory clarity. E still highlight possible 2026 'Clarity Act' wey fit boost sentiment. For traders, near-term setup still mixed: support dey around $0.23, but one AI model scenario flag downside risk to about $0.208 by late June 2026. Watch whether sustained ADA whale accumulation fit offset broader risk-off moves.
Neutral
ADA whale accumulation na dey on-chain na support factor wey constructive, but di summaries dey stress say near-term price action fit still dey constrained by di broader market environment. Santiment record-high millionaire wallet holdings mean deeper conviction and fit help absorb selling during dips. However, even with potential regulatory catalysts and Cardano upgrades, di reported uncertainty (including an AI downside scenario toward about $0.208) mean traders no suppose assume immediate trend reversal. Net effect for ADA therefore more supportive than bullishly decisive, making di impact closer to neutral.