Cardano enters a key upgrade cycle as the Midnight privacy sidechain mainnet is scheduled for the final week of March. At the same time, Protocol v11 (van Rossum) hard fork is close, with Node 10.7.0 as the mainnet release.

Cardano Nears Key Upgrade

According to an announcement from Intersect, Cardano is approaching a major upgrade milestone, with the Node 10.7.0 pre-release expected within days. This release represents one of two critical node versions required to activate Version 11, known as the van Rossem hard fork.

Previously, Node 10.6.2 initiated upgrade preparations in February. Node 10.7.0 will advance the process and move the network closer to activation.

Beyond basic hard fork readiness, Node 10.7.0 introduces new features and improvements that require ecosystem-wide integration and testing. Developers, infrastructure providers, and stake pool operators will all play a role in this phase. Meanwhile, Intersect hinted at plans to roll out additional minor updates depending on performance outcomes.

In addition, a compatible DBSync version is expected shortly after release to support seamless data synchronization. In the meantime, no serialization changes have been introduced, ensuring continued compatibility with hardware wallets and minimizing disruption.

Subsequently, the 10.7.x series will transition to Protocol Version 11, enabling staged upgrades across testnets before reaching the mainnet. 

New Capabilities Under Version 11

Once activated, Version 11 will introduce several new Plutus built-in functions at the protocol level, enhancing smart contracts and decentralized applications.

These include: Modular exponentiation (CIP-109), dropList operations (CIP-132), Multi-scalar multiplication using BLS12-381 (CIP-133), Array handling (CIP-138), and MaryEraValue support (CIP-153)

Notably, these features are already live for testing on the upgraded SanchoNet. At the same time, tools such as the Scalus smart contract tooling have been upgraded to support early development. 

Since the upgrade is structured as a non-disruptive intra-era fork, it preserves transaction formats while enhancing functionality and performance.

Timeline and Ecosystem Outlook

This is a stacked timeline with two core upgrades in the same window. One expands privacy and scalability. The other upgrades the base protocol. The intent is to push network capability before the next capital cycle.

USDCx is now live on Cardano, issued through Circle’s reserve system and backed 1:1 with USDC. This removes a long-standing blocker.

Since the launch, over 15 million USDCx have been minted. Stablecoin market cap on Cardano moved to roughly $48 million. Total value locked climbed to above $140 million, up from $127 million in February.

In the last 12 days alone, DeFi TVL jumped 23.5%. Around $80 million in cross-chain inflows supported that move. It is clear that capital is entering rather than rotating internally.

Institutions require a trusted stablecoin to deploy capital on-chain. Cardano did not have that, but now it does.

CME Cardano futures launched on February 9, 2026. That starts a typical six-month path for potential spot ETF decisions.

Meanwhile, ETF filings are already in motion. Grayscale has a spot ADA ETF under review. Volatility Shares has filed for leveraged products tied to ADA exposure, creating a defined window into late summer 2026.

If approvals land in that period, they meet a network that now has stablecoin liquidity, rising TVL, and upgraded infrastructure.

Cardano’s DeFi expansion now depends on follow-through. Phase one is complete with stablecoin minting, bridging, and usage now live.

Phase two is adoption. Users, developers, and institutions need to use the system at scale. Early signs are visible in TVL growth and cross-chain flows, but the next few months will decide sustainability.

Compared to competitors, Cardano still sits behind in raw liquidity. Networks like Solana hold multi-billion TVL levels. Even newer stablecoin ecosystems have scaled faster.

ADA price direction now ties directly to inflows and event execution. Late March acts as a trigger window with Midnight and the van Rossum upgrade.