The Cardano network executed the Van Rossem hard fork at 21:44:51 UTC on July 18, slot 192,844,800, transitioning to a new era focused on lower transaction costs and preparing the blockchain for a major scaling upgrade. The fork, which cleared governance on July 13 with ratification from stake pool operators (SPOs) and delegated representatives (DReps), is the first major protocol update since the Vasil upgrade in September 2022.
Whale Activity and Derivatives Data
In the 48 hours before activation, derivatives traders positioned cautiously. The long-to-short ratio fell to 0.58, meaning more shorts than longs, while open interest rose 4% to $421 million. On-chain data shows whale accumulation hit its highest level since 2023, suggesting large holders are betting on a longer-term payoff even as short-term sentiment stays bearish.
What the Upgrade Does
The Van Rossem hard fork is expected to lower execution costs on Cardano, making transactions and decentralized application (dApp) operations cheaper. More importantly, it lays the technical groundwork for the Leios scaling upgrade, which targets a dramatic increase in transaction throughput before the end of 2026. The predecessor Vasil fork improved smart-contract efficiency and block utilization, and Van Rossem builds on that foundation.
Price Action and Technicals
ADA traded at $0.158 on July 17, down 1.39% on the day. The 4-hour relative strength index (RSI) sat at 46.92, below its moving average of 50.95, indicating a bearish-neutral zone. The nearest dense liquidity pool on the liquidation heatmap sits between $0.160 and $0.165, with a larger concentration around $0.167. That zone could act as a magnet or resistance depending on how the market digests the upgrade.
Preparations and Next Steps
Intersect, the Cardano community organization, urged all infrastructure providers to update their software before the hard fork boundary. With the fork now live, attention turns to whether the lower costs will attract more dApp activity and how quickly developers can build on the new foundation. The Leios upgrade, still two years away, remains the long-term catalyst, but the immediate question is whether traders will push ADA toward the $0.160–$0.165 liquidity pool or if the bearish RSI keeps prices under pressure.
