Cardano picked up 14,783 new non-empty wallets since its June 23 bottom, according to Santiment. ADA has been on a tear since then.
The token hit a multiyear low near $0.14 in late June. It’s up 32.5% over the past week, touching $0.199 on July 5 before settling around $0.19.
That wallet growth comes after weeks of heavy selling. Failed treasury funding votes and founder Charles Hoskinson’s warnings about project strain drove ADA to levels not seen since 2020.
Santiment says the shift reflects a mood change in the Cardano community. Some retail buyers started returning once prices stabilized. Whale accumulation data already showed large holders adding ADA even as network activity slowed.
But don’t call it a clean recovery. Hoskinson recently launched a governance overhaul review auditing thousands of DAOs tied to the treasury system. That follows a canceled 2026 summit and ongoing funding disputes.
Cardano’s technical roadmap keeps moving. The Leios scalability milestone aims to boost network throughput before a planned mainnet push later this year.
The real test comes at the next governance vote. If holders stay put instead of fleeing at the first sign of trouble, June’s panic might end up looking like capitulation rather than a long-term problem.
