While numerous cryptocurrencies experienced significant volatility throughout November 2025, Cardano demonstrated remarkable resilience in its core operational metrics. Beneath the surface of price fluctuations, a compelling narrative unfolds: the Cardano ecosystem is witnessing a substantial surge in decentralized finance activity, coinciding with aggressive accumulation by major investors.
Major Investors Amplify Holdings
A particularly noteworthy development involves the activity of large-scale investors, commonly referred to as whales. In a concentrated buying spree between November 7th and 10th, 2025, these entities acquired a staggering 348 million ADA tokens. This accumulation, valued at over $204 million, represents nearly one percent of the entire circulating supply of the cryptocurrency.
This substantial purchasing activity occurred precisely during a period of price consolidation for the asset. Market observers interpret this as a strong indicator that institutional players and sophisticated investors view the current valuation levels as an attractive entry point for establishing long-term strategic positions.
Decentralized Finance Metrics Signal Strength
Concurrent with the whale activity, the decentralized finance (DeFi) sector within the Cardano network is exhibiting explosive growth. Data from a Messari report highlights that the Total Value Locked (TVL) surged by a substantial 28.7 percent during the third quarter. This increase propelled the TVL to $423.5 million, marking its highest level since the beginning of 2022.
Individual protocols are contributing significantly to this expansion. The Liqwid Protocol, for instance, registered a TVL growth exceeding 50 percent. Meanwhile, Minswap continues to command the decentralized exchange (DEX) landscape on Cardano, holding a dominant 74.7 percent market share. These figures collectively point to rapidly growing confidence in Cardano’s DeFi capabilities and infrastructure.
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Network Fundamentals and Governance Evolution
The network’s underlying health is further corroborated by other key performance indicators. Cardano’s Treasury experienced robust growth, expanding by 24.7 percent to reach a total of $1.3 billion. Simultaneously, the project’s market capitalization advanced by 42.5 percent.
A critical milestone was also achieved in the third quarter with the full transition to a completely decentralized governance model. This evolution underscores the growing maturity of the Cardano ecosystem and reinforces its commitment to a development pathway driven by its community.
Strategic Positioning for Enterprise Adoption
Beyond its technical and financial metrics, Cardano is making concerted efforts to position itself within the enterprise blockchain domain. The Cardano Summit 2025, held in Berlin, served as a key convening point, bringing together corporate leaders, regulatory officials, and blockchain innovators. The summit’s agenda focused heavily on enterprise blockchain strategies, the convergence of artificial intelligence with Web3 technologies, and the development of compliant regulatory frameworks.
The fundamental data presents a compelling case for Cardano’s strength. The critical question remains whether its market price will eventually reflect this underlying momentum and solidify its position as a leading contender in the competitive cryptocurrency landscape.
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