Cardano (CRYPTO: ADA) whales now control 67% of supply, the highest concentration since July 2020, after accumulating through a 71% crash over nine months.
Whales Stack 25 Billion ADA
Wallets holding at least one million ADA now control 25.09 billion tokens, representing 67.47% of circulating supply.
The accumulation trend has run uninterrupted since December 2023, with large holders buying on price weakness.
The token has shed 71% of its market cap over the past nine months, suggesting the largest holders have been stacking coins while retail capitulated.
DeFi Activity Collapses 80%
Cardano’s DeFi footprint has gone in the opposite direction. Total value locked sits at $137 million, down from a December 2024 peak of around $686 million, an 80% drop.
Meanwhile, daily DEX volume across the entire chain is $1.95 million. Chain fees over the past 24 hours …