The deployment of the Vasil hardfork on September 22 was one of the most significant days in recent Cardano blockchain history since it set the stage for the eventual expansion of performance restrictions.
It was stated up front that not all new functions would be accessible right away following the upgrade. But according to IOHK, the Plutus V2 cost model has been made available 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!”
Depending on the application, the new cost model will either have a higher or lower impact. As a result of their experience on the Testnet, the NFT Artano project stated that the size of the scripts had shrunk by more than 90% and the cost of a transaction had fallen by more than 75%.
Even stacking yields could benefit from it. 25.06 billion ADA, or 72.64 percent of the total number of circulating tokens, are utilized for staking, according to Cardano Blockchain Insights.
Technical Course Marks for Cardano
At $0.4304 ADA/USD, Cardano is now losing, or -5.87 percent, while its weekly loss is currently at -4.06 percent.
A daily closing price below the 78.6% Fibo retracement support level of $0.4451 has already happened since the coin was unable to hold above it.
As a result, the short-term mood has become even more negative, and losses are anticipated near the cycle low of $0.4044. The psychological threshold of $4000 further strengthens this support.
The odds of a rise towards the 61.8 percent Fibo retracement of $0.4771 will only grow if the bulls are able to consistently break above the 78.6 percent Fibo retracement.