ADA, the native cryptocurrency of the Cardano ecosystem is down 2.69% on May 13th, to currently exchange hands at $0.26. A primary catalyst to this selling pressure is Bitcoin’s breakdown below $80,000 amid the hotter-than-expected US Producer Price Index (PPI) inflation report. While the geopolitical uncertainty adds an additional layer of pressure on Cardano price, the key stakeholders have continued to accumulate more ADA in the last several months, projecting their conviction in a potential rebound ahead.
Cardano Accumulation by Major Holders Reaches Record Levels
In the last three days, the Cardano price has witnessed a sharp pullback from $0.283 to $0.263, accounting for a 7%. The move aligned with broader market retracement as several bearish factors including the escalating conflict between U.S. and Iran and the higher than expected U.S. inflation data has created a risk-off sentiment among traders. Today, the U.S Bureau of Labor Statistics (BLS) released its latest PPI report for April 2026, indicating 1.4% Month-on-Month increase and a 6% Year-over-year surge, sparking widespread fears that the Federal Reserve will delay near-term interest rate cuts.
While the higher-than-expected inflation pressure adds a bearish layer on the crypto market, the latest on-chain data shows a steady accumulation from its prominent investors.
The total number of ADA tokens held by addresses with at least 1 million tokens has reached more than 25.09 billion tokens for the first time. Santiment data shows that these big wallets now hold around 67.47% of Cardano’s total circulating supply, which is the highest since July 2020.
The build up has slowly and steadily intensified since December 2023. But despite the significant declines in the price of ADA, which was down by about 71% over the past nine months, these large stakers have continued to purchase the asset despite its lower valuations.
A multi-year chart tracking both the absolute number of tokens held by 1M+ wallets and their share of total supply shows a clear upward trajectory in recent periods. The holdings line has been on the rise and is at a new all-time high, and the percentage of supply has increased significantly, reaching levels not seen in almost five years.
This visualization covers the timeframe between mid-2020 and early 2026, with wallet concentration metrics layered on top of price candles from the past. It marks a significant difference, as the valuation of the broader market has fallen, but the volume of tokens held by these key addresses has grown.
The move comes as Cardano’s biggest non-exchange wallet stores continue to build up during a period of declining prices.
Also Read: Fidelity’s FILQ & Its Impact on the Future of Tokenized Finance
Cardano Price Faces a Major Breakdown From Bear Pennant Pattern
Following a sharp correction in January and early February, the Cardano price has traded in a sideways trend around the $0.263. The consolidation has resonated strictly within two converging trendlines, indicating the formation of a classic bearish continuation pattern called inverted pennant.
The chart setup is commonly spotted in an established downtrend, as the current consolidation in price offers sellers to recoup the exhausted bearish momentum. With today’s price drop, the Cardano price currently trades at $0.26 and holds a market cap of $9.59 billion.
If the bearish momentum persists, the coin price could plunge 7.5% down to channel the pattern support at $0.245.
A bearish breakdown below this floor will accelerate the supply pressure and drive an extended 8.8% drop to retest the $0.22 support.
On the other hand, if buyers continue to defend the triangle support, the ongoing consolidation could prolong.