Smart money wallets have continued to accumulate Cardano (ADA) over the past two months, even as the cryptocurrency’s price traded lower. Santiment data show large holders with balances between 100,000 and 100 million ADA have accumulated 454.7 million ADA over the period, amounting to roughly $161.42 million in fresh whale accumulation. This indicates persistent conviction among major Cardano holders despite a muted price backdrop.
Whale activity remains concentrated among the larger address ranges, with addresses holding between 10 million and 100 million ADA consistently increasing exposure. Wallets in the 1 million to 10 million ADA range, as well as those with 100,000 to 1 million ADA, experienced a temporary slowdown, though accumulation resumed in January 2026. The divergence between whale accumulation and smaller-holder behavior underscores a potential foundation for future price strength.
Retail participants continue to sell, highlighting a mixed demand dynamic. Smaller holders with 100 ADA or less have offloaded 22,000 ADA, worth about $7,810, over the past three weeks. Santiment notes that whale accumulation paired with retail capitulation has historically preceded a rebound when market conditions stabilize.
Beyond price action, Cardano’s ecosystem shows steady adoption. ADA holder numbers rose from 3.17 million in November to 3.228 million, a gain of about 50,000 wallets. On-chain metrics for Cardano DeFi are supportive, with TVL in DeFi protocols around $161.87 million and ADA supply remaining broadly stable near 460 million ADA since October.
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