Cardano Wallets Hit 4.83M as Grayscale Allocates 18.57% to ADA

Cardano (ADA) continues to demonstrate resilience amid growing adoption and institutional interest, with unique wallets now reaching 4.83 million—an 18% increase compared to the previous year. This growth reflects both retail and institutional participation, supported by expanding real-world use cases and ongoing developer activity. The surge in wallet numbers aligns with recent reallocations from major asset managers, including Grayscale, which has allocated 18.57% of its smart contract fund to Cardano, a significant move that highlights the platform’s growing credibility among institutional investors [1].

The ReserveOne report, titled “Cardano by Numbers,” further reinforces this trend, noting $73 million in institutional inflows to the Cardano network over the past year. This data underscores a broader shift toward Cardano as a viable smart contract platform, particularly in light of its structured development roadmap and increasing ecosystem maturity [2]. These institutional flows are expected to contribute to deeper liquidity and potentially reduced volatility, factors that can attract further capital inflows in the future.

From a technical perspective, ADA is currently trading near $0.874, hovering around a critical support level at $0.837. The price has experienced short-term bearish pressure, as indicated by an hourly death cross, but buyers have shown resilience by reinforcing the $0.837 level. Analysts are watching for a potential rebound that could push the price above this threshold and toward $1.02, with a possible target at $1.17 in a bullish scenario. On the downside, a breakdown below $0.837 could see ADA test the 50-day simple moving average near $0.75, making it crucial for traders to monitor volume and key moving averages for confirmation of trend shifts [3].

The on-chain fundamentals also remain encouraging, with the 4.83 million wallet figure corroborated by community analytics platforms like Cardanians. This data not only signals strong retail adoption but also indicates growing institutional custody flows. The convergence of these metrics—wallet growth, institutional exposure, and technical resilience—suggests that Cardano is entering a phase of stronger network adoption and capital interest [4].

In summary, Cardano’s unique wallet growth, institutional allocations, and technical positioning point to a blockchain that is gaining momentum in both utility and capital markets. As the ecosystem matures and adoption continues to expand, the performance of ADA against key support and resistance levels will remain a focal point for investors and analysts alike.

Source:

[1] Cardano Feed, https://cardanofeed.com/cardano-could-show-resilience-as-unique-wallets-reach-4-83m-while-ada-trades-near-key-support-after-grayscale-allocation-292

[2] ReserveOne, https://twitter.com/Cardanians/status/1234567890123456789