Cardano, Founder Controversy 'Rife'...Whale Wallet Accumulation Reaches All-Time High

▲ Cardano (ADA)

Even as internal conflicts within Cardano (ADA) deepen, whale wallets have begun an unprecedented accumulation, leading the market into a phase where retail investors' distrust and large holders' confidence directly clash.

According to crypto media outlet U.Today on May 28 (local time), while the Cardano ecosystem is experiencing serious internal divisions, on-chain indicators show the opposite trend. According to Santiment data, the combined holdings of wallets holding more than 1 million ADA have increased to 25.11 billion ADA.

So-called millionaire wallets currently control 67.49% of the total circulating supply. This is the highest concentration of capital in a specific holder group since July 2017. In traditional market analysis, aggressive accumulation by whales is often interpreted as a long-term bullish signal.

However, separate from the whale accumulation record, the internal sentiment within the Cardano community has rapidly deteriorated. This is due to the news that a $250 million clinic spearheaded by Charles Hoskinson in Wyoming will close on July 31, 2026, in the aftermath of its bankruptcy. U.Today reported that the institution entered closure proceedings due to hasty expansion and large-scale layoffs that began in late 2025.

The lavish internal facilities, equipped with robots and NFTs, also fueled controversy. As images of the high-end facilities were released amidst a prolonged stagnation in Cardano's price, backlash spread on social media. Former supporters, such as The Cardano Times, openly criticized Hoskinson for his egocentrism and greed.

Within the community, fundamental questions have even been raised as to whether the collapse of Hoskinson's medical startup could foreshadow the future of the Cardano blockchain. As the summer of 2026 approaches, Cardano finds itself in a deep discord where on-chain indicators showing the confidence of large holders clash with critical public opinion within the ecosystem.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*