Cryptocurrency analysis platform Santiment has published a new assessment of Cardano's (ADA) on-chain activity and ecosystem performance, which has been attracting attention recently.
According to the data, big whales turned to aggressive accumulation after the ADA price dropped below $0.50 last week.
“Cardano's critical token holders are rapidly filling their wallets,” Santiment said, noting that whale and shark wallets have amassed 348 million ADA ($204.3 million) over the past four days. During this period, these addresses purchased 0.94% of the total ADA supply.
Cardano's performance in the third quarter of 2025 also supports the positive outlook. The ecosystem closed the quarter strong, recording growth in NFT, DeFi, and stablecoin verticals.
The increase in liquidity on the DeFi side was notable: Total value locked (TVL) increased by 17.6% quarter-over-quarter to $341.6 million. This growth was driven by the expansion of Liqwid and the increasing diversity of protocols.
The circulating supply of ADA continues to grow in a controlled manner until it reaches a maximum of 45 billion tokens. At the end of each five-day epoch, 0.3% of the ADA in reserves is distributed as rewards to stake pool operators (SPOs). Rewards are calculated based on factors such as the pool's authorized stake, block production performance, and the operator's pledge ratio.
*This is not investment advice.
