ADA whales ramp up accumulation after SEC and CFTC classify Cardano as a digital commodity

Cardano's ADA has been classified as a digital commodity rather than a security in joint guidance from the SEC and CFTC on March 17, with on-chain data showing large holders increasing exposure around the decision. Wallets holding between 1M and 10M ADA accumulated about 60M tokens over the weekend, while larger whale groups bought 110M ADA (around $30M) between March 15 and 16, and more than 5,200 new mid-tier whale wallets were created in a single week. ADA is trading near $0.29 as futures open interest rises and funding rates stay positive, and the commodity designation is described as opening the door to potential spot ADA ETFs, with Grayscale already having filings and the Midnight Network mainnet noted as upcoming.