Cardano (ADA) Whale Addresses Holding 10M to 100M Tokens Increased Their Combined Balance by 420.3M ADA

In April 2025, Cardano whale addresses holding between 10 million and 100 million ADA increased their combined balance from 12.47 billion to 12.89 billion ADA

In April 2025, Cardano (ADA) whale addresses holding between 10 million and 100 million ADA saw a gradual increase in their collective balance.

As of April 1, these whales held a combined 12.47 billion ADA across 316 wallets, Chainalysis data showed. Over the course of the month, they added 420.3 million ADA tokens, valued at approximately $289 million, to their holdings.

This brought their combined balance to 12.89 billion ADA, or nearly 36% of the total circulating supply. Most of the acquired tokens stayed in private wallets rather than moving to exchanges, reducing immediate sell pressure.

Meanwhile, wallets with smaller balances showed little change during this period. For instance, the collective balance of addresses holding less than 1 million ADA remained relatively stable, decreasing only slightly from 34.37 billion to 34.32 billion ADA.

This behavior aligns with previous phases in 2021 and 2023, where whales increased their positions during low-volatility conditions, which in turn contributed to gradual shifts in market structure.

ADA Breakout Setup Confirmed With Falling Wedge Pattern

In other news, Cardano’s daily chart on Coinbase shows a completed falling wedge pattern. A falling wedge is a bullish chart formation that occurs when a token’s price is contained within two converging trendlines, forming a wedge-like shape on the chart.

As the trendlines converge, the price action is characterized by decreasing volatility, ultimately leading to a breakout from the wedge. This breakout typically occurs in the direction of the strongest price movement during the wedge formation.

In the case of ADA, the wedge formation began in December 2024, with the upper trendline sloping downwards from the December 24 high of $0.6464, while the lower trendline sloped downwards from the January 4 low of $0.4203.

Cardano broke above the upper trendline in late April, confirming the end of the wedge structure. The breakout also aligns with rising momentum from the Relative Strength Index (RSI), which currently stands at 55.94. This value is above the neutral 50 level, suggesting growing buying strength.

The 50-day Exponential Moving Average (EMA), now at 0.6881, acts as a dynamic support just beneath the current price range. Volume during the breakout phase was 9.04 million ADA, setting the stage for potential follow-through.

The vertical distance from the widest part of the wedge to the breakout point at the upper trendline indicates a projected upside target of nearly 66% from the breakout point. This sets a technical objective at $1.16 if current structure holds.

Cardano Executive Warns Against Blind Tokenization of Real-World Assets

Elsewhere, EMURGO COO Nikhil Joshi has urged caution in the growing realm of RWA tokenization. Reacting to a post on X, Joshi shared key insights from the “Emerging RWA Opportunities in 2025″ panel and critiqued the notion of placing every asset on-chain.

Joshi, who helms Cardano's commercial arm, described this approach as “tokenitis” and noted that not all tokenized assets necessarily add value. He emphasized the need for tokenization to solve real problems and avoid speculative models.

Joshi's remarks highlight EMURGO's broader role in guiding real-world utility for the Cardano blockchain. He identified private credit as the most viable short-term opportunity in the RWA space.

Due to the private nature and illiquidity of this asset class, tokenization could bring greater transparency and accessibility. In contrast, tokenized equities or government bonds may not offer the same level of urgency.

“We can create a tokenized private credit market. That to me seems like the most obvious, short-term opportunity,” Joshi said.

He added that tokenized private credit offers practical application without overpromising results, setting it apart from concepts like tokenized government bonds, which are still in early exploration.

Joshi also clarified that tokenization isn't inherently linked to boosting liquidity. Instead, it can contribute to decentralized finance (DeFi) by expanding collateral options for lending, staking, or yield generation.

As part of the Cardano ecosystem, EMURGO's stance underscores the network's focus on utility-first tokenization strategies rather than a blanket implementation across various asset classes.