Altcoins
The second technical set of the Vasil hard fork will be launched in the Cardano ecosystem today, September 27 at 21:45 UTC. Developers will have access to: Plutus V2 scripts, reference scripts, pipelining, and more. Against this background, ADA quotes have strengthened by 3% over the past 24 hours, consolidating near the $0.45 mark.
The Vasil hard fork was launched by the IOG and Cardano Foundation teams on September 22, 2022. IOG representatives noted that the second update package will put the Plutus V2 mechanisms into operation, which will improve the technical performance of the Cardano ecosystem and increase the functionality of smart contracts. At the same time, a significant increase in network bandwidth and a reduction in commission fees are expected.
The global update of Vasil has become one of the most discussed events in the crypto community, which was actively covered in the media. But despite the scale and importance of the update, Cardano quotes have remained virtually unchanged since its launch.
Many experts agreed that the Vasil update will reveal its potential only in the foreseeable future.
Since the update, there has not been a sharp surge in Cardano quotes. The price has continued to trade in a range of $0.42 to $0.55 since May 2022. According to analysts, the commissioning of the second update package will have a positive effect on the market position of cryptocurrencies. Some experts suggest that in the near future the quotes will be able to reach the global extreme at around $1.
The total capitalization of the crypto market over the past 24 hours has increased by 3.9% to $972.5 billion. There is clearly a limited activity of buyers, but in the context of macroeconomic instability and aggressive actions by the Fed, you should not count on a protracted bullish trend, experts emphasize.
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