Cardano Adds 14,783 Wallets After June 23 Bottom as Whales Boost Holdings

Cardano (ADA) added 14,783 new non-empty wallets following its June 23 bottom and rose roughly 24% in a week, touching $0.199 on July 5 before settling near $0.181, according to on-chain analytics firm Santiment. The bounce coincided with the June 23 launch of the Leios Musashi Dojo testnet, a scaling upgrade targeting roughly 60x throughput increase. The price remains approximately 87% below its cycle peak of $1.20, with large wallet holders (10 million to 100 million ADA) increasing their share of circulating supply from 37.66% to 38.13% in late June while daily active addresses hit a four-month low.

Whale Wallets Increased Supply Share in Late June

The 10 million to 100 million ADA cohort raised its share of circulating supply from 37.66% to 38.13% in late June, with large-output transactions spiking on June 21 and June 24, per Santiment. Wallets holding at least 1 million ADA now control roughly 67.5% of supply, the highest concentration since 2020. Santiment characterized the wallet surge as a genuine sentiment inflection point, not routine account creation. The count of large wallets hit a 45-day high while daily active addresses sank to a four-month low.

Cardano Launched Leios Musashi Dojo Testnet on June 23

The June 23 low coincided with Cardano's launch of the Leios Musashi Dojo testnet. Cardano founder Charles Hoskinson stated that Leios targets a roughly 60x throughput increase, pushing Cardano toward XRP Ledger transaction speeds. A mainnet push is planned for later in 2026.

Governance Challenges Preceded June Selloff

June brought failed treasury funding votes, a canceled 2026 summit, and Hoskinson publicly warning that more ecosystem projects could fail. Hoskinson has since opened a governance-overhaul review, auditing thousands of DAOs tied to Cardano's funding system. That review is still live.

ADA Trades Near $0.181 on July 9

On July 9, ADA trades near $0.181, down approximately 4.5% on the day on volume of $441.5 million. As long as $0.18 holds, overhead resistance appears at $0.195 on the four-hour chart, then the $0.20 level and the 100-day average near $0.2231. Analysts broadly project ADA between $0.17 and $0.27 by December. August 9 is the next milestone in the spot ADA ETF timeline, six months after ADA futures launched on CME. July has historically been ADA's strongest month, averaging around an 11% gain.

FAQ

How much did Cardano's price rise after the June 23 bottom? Cardano rose roughly 24% in a week following the June 23 bottom, touching $0.199 on July 5 before settling near $0.181.

What percentage of Cardano supply do large wallets control? Wallets holding at least 1 million ADA now control roughly 67.5% of supply, the highest concentration since 2020, according to Santiment.

When is Cardano's Leios mainnet planned for launch? A mainnet push for Leios is planned for later in 2026, according to Cardano founder Charles Hoskinson.