On-chain data shows that Cardano addresses holding at least 1 million tokens have seen their combined holdings reach the highest level since 2017. Large Cardano holders have continued to accumulate recently. In a new post on X, on-chain analytics firm Santiment discussed the latest trend in the Supply Distribution of large Cardano investors. The "Supply Distribution" refers to an indicator that shows how much ADA supply a specific wallet group currently holds.
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Addresses or investors are divided into groups based on the number of coins in their balance. For example, the 1 to 10 coins group includes all holders with between 1 and 10 ADA. In this discussion, the focus is on the range starting at 1 million ADA with no upper limit. At the current exchange rate, this cutoff is worth about $230,000. That's a significant amount, so only investors with substantial capital fall into this group.
Below is the chart from Santiment showing the trend in Supply Distribution for these Cardano millionaire wallets over the past decade. As the graph shows, the Cardano supply held by wallets with 1 million+ ADA has been rising since 2024, meaning sharks and whales have been buying up the asset. Santiment noted: "When key stakeholders accumulate, it's generally a sign of confidence from the groups most deeply invested, who have the most to gain or lose."
Interestingly, the upward trend in the Supply Distribution of millionaire wallets has continued despite the broader bearish shift in the cryptocurrency sector since Q4 2025. So, the price drop doesn't seem to have discouraged large investors from accumulating the altcoin. After the latest increase in this metric, its value has reached 25.11 billion tokens. That's the most Cardano that 1 million+ ADA investors have held since December 2017. In terms of supply percentage, these key holders now control 64.49% of all coins in circulation, the highest share since July 2020. "As a long-term indicator, this is a bullish signal for those patient enough to hold," the analytics firm said.
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However, while accumulation by Cardano sharks and whales has been fairly steady for a while, the indicator is still worth watching. The chart shows a similar pattern during the 2022 bear market, until large holders sold off, driving the coin to its cycle lows.
ADA Price
At the time of writing, Cardano is trading around $0.23, down nearly 6% over the past week.
Featured image from Dall-E, chart from TradingView.com
Ofte stillede spørgsmål
Her er en liste over ofte stillede spørgsmål om den seneste stigning i Cardano-millionærtegnebøger, skrevet i en naturlig tone med klare, præcise svar.
Spørgsmål på begynderniveau
1. Hvad er en Cardano-millionærtegnebog?
Det er en tegnebogsadresse, der indeholder mindst 1 million ADA-tokens. Det betyder ikke, at personen er millionær i dollars – kun i antallet af ADA-mønter.
2. Hvorfor er det en stor ting, at millionærtegnebøger er på et rekordhøjt niveau?
Det tyder på, at store, langsigtede investorer akkumulerer ADA i stedet for at sælge det. Dette kan være et tegn på tillid til projektets fremtid.
3. Betyder det, at prisen på ADA vil skyde i vejret?
Ikke nødvendigvis. Selvom akkumulering fra store tegnebøger kan være bullish, afhænger prisen af mange faktorer som markedsstemning, handelsvolumen og bredere kryptotendenser. Det er et positivt signal, men ikke en garanti.
4. Hvor mange af disse millionærtegnebøger er der lige nu?
Fra begyndelsen af 2024 har antallet overgået den tidligere top fra 2017, med flere tusinde adresser, der indeholder 1 million ADA eller mere.
5. Er dette godt for almindelige ADA-indehavere?
Det kan være det. Når hvaler akkumulerer, reducerer det ofte den cirkulerende forsyning, der er tilgængelig for handel, hvilket kan understøtte prisstabilitet eller opadgående bevægelse. Det betyder dog også, at få indehavere har betydelig indflydelse.
Avancerede spørgsmål
6. Hvordan sammenligner dette sig med toppen af tyremarkedet i 2017?
I 2017 steg antallet af millionærtegnebøger under prisrallyet, men mange var kortsigtede handlende. Det nuværende antal er højere og er vokset støt, hvilket tyder på mere langsigtet beholdning.
7. Kan disse tegnebøger tilhøre børser eller stakingpuljer i stedet for individuelle investorer?
Ja. Børsernes hot wallets og stakingpuljers belønningsadresser indeholder ofte millioner af ADA. Analytikere forsøger at filtrere disse fra, men noget af stigningen kan stadig være institutionelle eller samlede midler snarere end individuelle hvaler.
8. Hvilken indvirkning har denne akkumulering på Cardanos staking-økosystem?
Da ADA kan stakes, delegerer store tegnebøger ofte deres beholdninger til stakingpuljer. Mere akkumulering betyder, at mere ADA stakes, hvilket styrker netværkssikkerhed og decentralisering.