1,930,000,000 ADA Held by Largest Cardano Address, What's Behind Massive Stake?

According to Cardano blockchain explorer Cexplorer, the largest Cardano address holds 1.93 billion ADA.

Cexplorer shares a screenshot of the top 10 addresses by ADA balance. Sitting in the first spot is an ADA wallet with a balance of 1.93 billion ADA.

The whale's first activity dates back to five years, five months ago on Aug. 18, 2020. This comes about three years after Cardano's launch, which was created in September 2017. The ADA price ranged between $0.0869 and $0.0184 around the time of the whale's first activity.

The Cardano price later rose the following year to reach an all-time high of $3.10 on Sept. 2, 2021.

The ADA price subsequently retreated with the whale's staying power put to test, albeit it remained resilient.

According to Cexplorer data, the Cardano top address was last active about 27 days ago, showing inactivity so far this year.

Cardano whales ("leviathans") account for 9.7% of supply

According to Cexplorer data, Cardano whales, which hold between one million and five million ADA hold 3.73 billion, about 9.7% of the circulating supply.

"Humpbacks" which, according to Cexplorer's classification, hold between 5 million and 20 million ADA, control a total of 2.97 billion ADA or 7.7% of the supply.

"Leviathans" are the biggest Cardano holders and might consist of crypto exchanges owning 20 million ADA and above. The total ADA held by this category is 17.52 billion, or 45.6% of the circulating supply.

Cardano news

In recent news, Cyber Hornet has filed for an S&P Crypto 10 ETF, which could be the first S&P-linked spot basket and includes Cardano.

FluidTokens is entering the final phase for the Bitcoin Cardano bridge. In a tweet, FluidTokens revealed that its Bifrost GitHub documentation is being written and added to its repos. It highlighted that the final stretch of development has arrived, with Bitcoin liquidity about to be unlocked on Cardano.

ARK has filed for ARK CoinDesk 20 Crypto ETF. Cardano (ADA) is part of the application, along with BTC, XRP, ETH, SOL and others. The crypto ETF is expected to trade on NYSE, now pending regulatory approval.