Cardano (ADA) network transactions surpassed 120 million on the mainnet, even as the token's price continues to face sustained selling pressure across the broader market.

Cardano Crosses 120M Transactions

Data from Cexplorer, the blockchain's primary explorer platform, confirms the milestone. The mainnet transaction count reached 120,002,067, a figure that underscores steady organic growth in network usage despite ADA's prolonged price decline.

The uptick in on-chain activity spans transactions, decentralized applications and related services.

That level of sustained engagement, even during a bearish stretch, signals that developers and users have not abandoned the ecosystem.

It also separates network fundamentals from short-term token performance.

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Santiment Data on ADA Whale Accumulation

Separately, on-chain analytics firm Santiment reported a sharp rise in wallet addresses holding at least 10 million ADA. The number of such large-holder wallets hit a four-month high of 424, representing a 5.2% increase over nine weeks.

The surge in whale wallets suggests that deep-pocketed investors are quietly adding to their positions. Large holders have historically preceded major price swings in ADA, and their return often reflects growing confidence in the network's longer-term trajectory.

ADA's price has not fully decoupled from other major altcoins in 2026.

The token gained roughly 11% after bottoming on Feb. 5, but remains well below its prior cycle highs. Over the past several months, ADA has traded in a volatile range, alternating between brief rallies and sharp pullbacks as the broader crypto market struggled to find direction.

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