Cardano whales accumulate 454.7M ADA worth $161M as small investors cut exposure

On-chain data shows large Cardano wallets holding between 100,000 and 100 million ADA accumulated about 454.7 million ADA, valued near $161 million, over the last two months while smaller addresses holding 100 ADA or less reduced positions. During this period, ADA’s 30-day MVRV hovered around -7.9%, the price fell about 19% in 60 days but remained up 6% year-to-date and traded close to $0.35, far below its $3.10 all-time high from September 2021. At the same time, Cardano has faced political and regulatory uncertainty in the United States as CME Group prepares to launch ADA futures contracts with position sizes between 10,000 and 100,000 ADA, pending approval.