09.08.2022
Chicago 12, Melborne City, USA
Business

Cardano Host Company Rolls Out Final Node Before Vasil Launch

As Cardano (ADA) prepares to launch the controversial Vasil Hard Fork, Input Output Global (IOG), Cardano’s host company, recently announced the rolling-out of a new node.

The company details that the latest node, Cardano node 1.35.0, is the final confidante before the deployment of Vasil on the Mainnet. The new development brings the network closer to the launch of the Vasil Hard Fork on the testnet and mainnet.

IOG also assured following the latest node launch that all necessary precautions to be observed to ensure a smooth launch has been implemented.

The company noted that it had notified the SPO community on the launch of node 1.35.0, adding that they should upgrade the node ahead of the deployment of the Vasil testnet. IOG also noted:

“We’ll give testnet SPOs the time they need & as soon as more than 75% of block-producing SPOs on the testnet have upgraded – needed for satisfactory chain density for the hard fork – we’ll submit the testnet update proposal, which will take one complete epoch to take effect. ”

Meanwhile, the development team recently announced that the Vasil upgrade code has been completed, adding that they had run a successful Vasil testing on the Plutus v2 code. So far, the Vasil testing procedure has run hitch-free, showing positive feedback on performance and costs.

Key Cardano Levels to Watch – June 27

As the days go by, a bearish flag pattern becomes clearer for Cardano, which currently trades a few points below the $ 0.500 level. That said, a bearish dump could materialize in the coming days or when ADA taps the $ 0.535 top.

ADAUSD – 4-Hour Chart on Binance. Source: TradingView.

In the meantime, we should see a 10% bullish move play out in the coming hours or days, creating a bullish window for buyers as well as a sell entry for bears. That said, this bearish flag setup becomes invalid if ADA bodies a sustained bullish push above the $ 0.550 mark.

Meanwhile, our resistance levels are $ 0.500, $ 0.535, and $ 0.550 and our support levels are $ 0.450, $ 0.400, and $ 0.350.

Total Market Capitalization: $ 933.8 billion

Cardano Market Capitalization: $ 16.4 billion

Cardano Dominance: 1.76%

Market Rank: # 8

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