Cardano (ADA) Whales Number Surges By 1.7% As Holders Increase Holdings

Published by
Cardano (ADA) Whales Number Surges By 1.7% As Holders Increase Holdings

The Cardano (ADA) market is showing robustly positive signs of growth. The number of whale wallets on the Cardano network has increased by 1.7% in the last eight days on-chain data reveals. 

Advertisement

The Cardano network is birthing new whale wallets

On-chain and technical analyst, Ali Martinez, who first pointed out the data shared that roughly 42 addresses holding 1 million to 10 million ADA were created since March 21.

This is a significant increase if the value of these holdings is taken into consideration Martinez notes in his tweet. He said:

The uptick may seem insignificant at first glance, but these whales hold between $1.2 million and $12 million in ADA.” 

Supporting Martinez’s finding is also data from the crypto analytics and intelligence platform, IntoTheBlock. Per IntoTheBlock’s data, Cardano is currently experiencing increased institutional demand. Whale transactions (transactions greater than $100k) on the Cardano network have increased 50 fold in 2022 alone.

As of yesterday, the Cardano blockchain saw a total transactions volume of $69,09 billion, and 99% of this volume was institutional-level transactions.

Overall, the surge is a positive sign for ADA’s future price action. The price of ADA is already feeling the impact of the increasing whale accumulation.

ADA has been on a bullish streak. In the last week, ADA is up 24% and is currently trading at $1.20. This surge has driven up the assets market cap to over $40 billion. This makes ADA rank as the eighth largest crypto by market cap, ahead of Terra (LUNA) and Solana (SOL).

Advertisement

What has been attracting the whales to Cardano?

Developments going on in the Cardano ecosystem have undoubtedly been the cause of a lot of excitement in the ADA market. Among recent key developments is the launch of Milkomeda, a layer 2 interoperability sidechain of Cardano.

With Milkomeda, EVM compatible tokens can now be bridged over the Cardano blockchain. Milkomeda also offers a developer toolkit for Ethereum’s native programming language, Solidity. The sidechain opens the door for more projects to launch on the Cardano blockchain, and a lot of liquidity to flow into the ADA market.

Equally positive for Cardano is its inclusion in Grayscale’s latest fund, in which it comprises the largest percentage per share. Amidst all these, market participants also expect that following two network upgrades this year, Cardano should attract even more attention and the price of ADA will truly breakout.

 

Advertisement

Share
Olivia Brooke

Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown

Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…

October 4, 2025
  • 24/7 Cryptocurrency News

FLOKI Makes History With First ETP in Europe as Price Surges 30%

FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…

October 4, 2025
  • 24/7 Cryptocurrency News

BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert

Binance Coin (BNB), the native cryptocurrency of BNB Chain, has surged another 8% today, moving…

October 4, 2025
  • 24/7 Cryptocurrency News

Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury

Trump’s real estate portfolio is set to go on-chain amid World Liberty Financial’s announcement of…

October 4, 2025
  • 24/7 Cryptocurrency News

ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3

Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the…

October 4, 2025
  • 24/7 Cryptocurrency News

MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch

MetaMask, Consensys’ Web3 wallet, is set to introduce a reward points system for on-chain activities.…

October 4, 2025