Whale holdings in Cardano’s ADA token hit record high

The balance held by addresses with 1 million to 10 million coins rose to a record 12 billion ADA ($9.72 billion) last week, a 41% gain since late January, data provided by blockchain analytics firm IntoTheBlock show.

The total value locked in the Cardano network has increased by $50 million in a week, hitting a lifetime high of $160.79 million, according to Defi Llama. More than 70% of the funds are locked in decentralized exchange (DEX) SundaeSwap.