Investing.com – September 22 was one of the most important days in recent blockchain history, as the deployment of the Vasil hardfork laid the foundation stone for what will soon be an extension of performance limits.
Early on, it was announced that not all new features would be available immediately after the upgrade. However, IOHK has announced that the Plutus V2 cost model has been enabled on the mainchain:
“We are happy to announce that after a successful Vasil upgrade on September 22, the additional features (including node & CLI support for reference entries, inline dates, reference scripts), as well a new Plutus cost model, will be available on the Cardano mainnet!”
The new cost model will have a greater or lesser impact depending on the application. The NFT Artano project had already gained experience with this on the Testnet and reported that the size of the scripts had decreased by more than 90% and the cost of a transaction by more than 75%.
It might even have a positive effect on stacking yields. According to Cardano Blockchain Insights, 25.06 billion ADA are used for staking, which corresponds to 72.64 percent of the circulating token supply.
Cardano Technical Course Marks
Currently, Cardano is losing, at $0.4304, -5.87 percent, while the weekly loss stands at -4.06 percent.
The cryptocurrency failed to hold above the support of the 78.6% Fibo retracement at $0.4451 and a daily close price below this level has already occurred.
Short-term sentiment has therefore darkened further and losses are to be expected towards the cycle low of $0.4044. This support is reinforced by the psychological threshold of $0.4000.
Only if the bulls manage to sustainably break above the 78.6 percent Fibo retracement will the chances of a rally towards the 61.8 percent Fibo retracement of $0.4771 increase.
By Marco Oehrl