Cardano (ADA) whale wallets holding at least 10 million tokens have surged 5.92% to 424, the highest count in over a month.

ADA Whale Accumulation Surges

The on-chain analytics platform Santiment reported that large holders have resumed accumulating ADA despite the token's prolonged price weakness.

These wallets — each containing a minimum of 10 million ADA — had been largely inactive during months of selling pressure.

The uptick to 424 whale wallets marks the first meaningful increase in this metric since early March.

It signals that deep-pocketed investors see value at current levels and are willing to add to positions even as smaller holders remain cautious.

Also Read: Only 10% Of New CEX Tokens Survive Their First Year, CoinGecko Data Reveals

Santiment Bullish Sentiment Data

Separately, Santiment data shows roughly 79% of ADA holders remain bullish on the token's price direction. That figure holds despite the fact that most investors are currently underwater on their positions.

Historical seasonality adds another layer.

CryptoRank data puts the average ADA return for April at 14.1%, with more green monthly closes than red across the token's history.

Whale accumulation also reduces available supply on the open market, which can amplify upward moves if broader crypto conditions turn favorable.

Cardano spent much of the past year underperforming relative to other major altcoins. The token barely participated in the late-2024 rally and dropped sharply once momentum faded. That extended decline is part of what makes the current shift in whale behavior notable — large holders appear to be positioning ahead of a potential reversal rather than waiting for confirmation.

Read Next: Bitcoin Can Be Made Quantum-Safe Without An Upgrade, But There's A Catch