The boom is strongly connected to “whales” who are large holders of cryptocurrency. Roughly 405 million $ADA or more than 10% of the circulating supply of Cardano is there in the addresses. There has also been massive accumulation by Avalanche in line with the latest on-chain statistics.
The history shows resemblances as the bull run in Bitcoin in 2021 began with a hoarding of whales by whales, followed by the price appreciation of 300%. August 2025 IntoTheBlock on-chain data indicates that Cardano whale transactions have increased 25 percent in the past week and Avalanche transactions have increased 30 percent, and this is generally in line with the price trend.
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