Over 21.75 billion ADA — nearly 58% of the total 37.01 billion supply — is now staked on the Cardano network. At the same time, wallets holding at least 1 million ADA have amassed a combined 25.11 billion tokens, the largest such concentration since December 2017. These whale wallets now control about 67% of all ADA, a level not seen since July 2020.
Staking participation climbs
The rise in staking comes as Cardano continues expanding its infrastructure and ecosystem activity. Staking provider Everstate said strong participation reflects confidence not just in the network's present state but also in its long-term direction. The comment underscores a broader trend: investors are locking up tokens to earn rewards rather than trading them amid market uncertainty.
What whale wallets signal
Santiment, a crypto analytics firm, noted that whale accumulation is generally a sign of confidence from deeply invested groups and is a long-term bullish indicator. The data shows that the largest holders are adding to their positions even as the token's price faces downward pressure. That divergence — rising whale holdings alongside falling prices — suggests those with the most at stake expect a future payoff.
Price under pressure despite network growth
ADA's price has continued to slide even as staking activity increases. Investors appear to be seeking alternatives to secure gains during volatile periods, turning to staking as a way to earn yield without selling. Whether that strategy will cushion further downside or simply delay selling remains an open question. The network's development pace hasn't translated into a price floor — at least not yet.
