Cardano 1M+ ADA wallets hit 67.47% of supply, their highest share since 2020

Santiment says wallets holding at least 1 million ADA now control 25.09 billion tokens, or 67.47% of existing supply, after accumulating steadily since December 2023. The concentration is happening into weakness: ADA’s market cap is down 71% over nine months, while Cardano DeFi TVL sits around $137 million versus a December 2024 peak near $686 million. Big wallets are absorbing supply, but that is a positioning signal, not proof of revived on-chain demand.

TLDR by @Benthic

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