Amid Robust Holder Distribution, Cardano Network Features Only One Wallet Address With Over 1 Billion ADA Tokens

Since its launch in September 2017, the Cardano network has continued to attract investors amid sustained updates.

The Cardano (ADA) network boasts a broad holder distribution, with only one wallet address holding over 1 billion ADA tokens, according to data from on-chain analytics platform IntoTheBlock.

As of press time on August 12, the network features over 4.45 million addresses, with varying ADA holdings. Notably, 2.39 million addresses, about 53.65% of the total Cardano wallets, hold only 44.59 million ADA.

These addresses hold 100 ADA and less, with the collective balance amounting to just 0.13% of ADA’s circulating supply, representing the lowest concentration of holdings for any cohort of addresses.

Meanwhile, wallets holding between 100 and 1,000 ADA amount to 1.2 million, with a collective balance of 461 million ADA.

Interestingly, 403 whales holding 10 million to 100 million ADA are the tier with the largest percentage of supply. They have 12.63 billion ADA, marking 36% of ADA’s supply, in their possession.

Another interesting data has to do with the number of addresses holding more than 100 million tokens. Those with 100 million to 1 billion tokens are just 10 in number, but they collectively hold 2.63 billion ADA.

Only 1 Address Holds 1B+ ADA

Moreover, there is only 1 address holding over 1 billion ADA. ITB suggests that this address alone holds 1.68 billion Cardano tokens, representing 4.83% of the circulating supply.

This is much larger than the 44.59 million ADA held by the 2.39 million addresses with 100 tokens or less.

The 1 address holding more than 1 billion ADA tokens has caught the eye. Consequently, The Crypto Basic launched an investigation into it, with on-chain data confirming that it has a balance of 1.683 billion ADA worth around $694 million.

In its first transaction, the address received 671 million ADA from an early Cardano address on August 18, 2020.

It has continued to receive millions of ADA from several addresses, leading to the current 1.683 billion tokens balance. Its last transaction occurred on July 18, involving an inflow of 1,611 ADA.

Before now, the address moved out 50 million ADA in two transactions nearly a month apart.

With no tag, it is difficult to confidently ascertain who owns this address. However, suggestions point to the Cardano Foundation or another Cardano affiliated entity.

Nonetheless, this remains speculative as of press time with no official confirmation.

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