Big-capital investors have reached their highest level of supply (ADA) since 2020.

As seen in data provided by blockchain analytics firm Santiment, Cardano wallets, which each hold more than 10 million ADA coins, now own 46.6 percent of the total supply of Cardano, which represents the biggest ratio in ADA’s supply in the past two years, the company says.

Since its $3.10#AllTimeHigh, #Cardano has dropped -59%. The asset’s most valuable whales (10M+ $ADA), have returned to 46.6%, their highest supply in the past two years. These addresses include a significant number of exchange-owned addresses. https://t.co/N8IVKH7hPx pic.twitter.com/9kwd0bMJHn

— Santiment (@santimentfeed) April 11, 2022

At the time of writing, there are 436 Cardano wallet addresses that hold more than 10M ADA coins, worth over $9.6M as of today’s $0.965 price. This means that the top whales currently hold over $4.2 billion worth of ADA — one of the largest share holdings of ADA ever accumulated by the top whales

Santiment points out that many of these addresses are linked to digital asset swaps.

Institutional interest increased

As seen in the chart, the top whales have been regaining interest in Cardano since February 2021, right after the coin’s price entered a bullish rally culminating in its $3.09 ATH in the early days of September 2021.

This coin ranks 8th on the crypto market and trades at $0.96. It means the. ADA has fallen nearly 69 per cent from its record-setting price due to the asset’s correction since April 1.

The increased demand for institutional money has pushed the coin up by over 50%.

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