Cardano ADA Price Stuck Despite Historic Van Rossem Hard Fork

Cardano's ADA token continues to hover around $0.165 on Monday, maintaining its relatively stable position following the implementation of the Van Rossem hard fork over the weekend.

The upgrade, which marks a historic milestone for Cardano as it's the first protocol enhancement to receive approval and implementation exclusively through decentralized onchain governance processes, brought enhanced Plutus functionality and optimized cost-model adjustments to minimize expenses associated with running smart contracts on the network.

According to Input Output, the technology development company behind Cardano, the Van Rossem upgrade establishes the technical foundation for the subsequent Dijkstra era hard fork, which will bring Ouroboros Leios capabilities to the Cardano ecosystem.

The market reaction to the upgrade has been subdued, with ADA's price remaining below its 50-day, 100-day, and 200-day Exponential Moving Averages. The token's long-to-short ratio currently stands at 0.90, indicating a bearish bias among traders.