Cardano (ADA) is currently trading at $0.26, well below its peak price, but major ADA holders don’t seem concerned.
Recent data shows that Cardano wallets holding large amounts of ADA have been steadily increasing their holdings.
Aggressive ADA Buying Spree
Data from Santiment shows that large Cardano (ADA) holders – those with at least 1 million ADA – are continuing to buy and increase their holdings. They now control 67.47% of the total ADA in circulation, amounting to 25.09 billion ADA. This accumulation is happening despite a significant drop in Cardano’s market value – over 70% in the last nine months – suggesting that wealthy investors are using the lower prices to buy more.
Crypto analyst Ali Martinez recently noted that large Cardano (ADA) holders are continuing to buy and hold the cryptocurrency. He highlighted the $0.25 price level as historically significant, pointing out that ADA experienced a strong rebound after holding this level in January 2023, ultimately increasing in value by over 88% in the weeks that followed.
Cardano (ADA) showed a similar pattern in September 2023, holding its value around $0.25 before jumping 243%. Now that Cardano is trading above $0.26, that same price level remains an important support point for its future price movement.
According to his assessment, if the price stays above $0.25, it could potentially rise to $0.36, and even $0.53 if there’s a larger market increase. However, he cautioned that falling below the $0.25 level could cause the price to drop further.
Scaling Debate Intensifies
Besides its price, Cardano has been criticized for how slowly it’s developing and improving its ability to handle more transactions. Charles Hoskinson, the creator of Cardano, recently responded to these criticisms, stating that the network hasn’t stopped focusing on scaling, despite claims to the contrary, and is still prioritizing improvements in that area alongside governance.
Charles Hoskinson stated that Cardano has been working on improving its scalability for years, even before the Shelley upgrade. This involved exploring various solutions like Layer 2 technologies, a unique accounting system called extended UTXO, zero-knowledge proofs, partnerchains, and the Leios protocol. He emphasized that these efforts weren’t something that could be sped up simply by hiring more developers; they required in-depth research, published scientific findings, and sustained engineering work.
Hoskinson also stated that developing the Voltaire governance system didn’t take resources away from efforts to improve Cardano’s scalability.
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2026-05-14 12:25