Cosmos Touches Highest Point Since May As ATOM Expands 25%
11 Setembro 2022 - 3:26AM
NEWSBTC
Cosmos (ATOM) has managed to soar by 25% which is considered its
highest point since the coin traded at around $15.70 on May 8.
ATOM’s trading volume spikes by 89% in past 24 hours Cosmos’ NFT
volume surged to $778,000 as seen on September 7 Cosmos 2.0
triggers 40% price pump for ATOM Even though the recent figures are
far from ATOM’s ATH seen at $44.45, the latest developments seem to
have revived investor trust and confidence. ATOM’s trading volume
has also increased by 89% in the past 24 hours. However, ATOM’s
dilemma is how to rally by taking the lead from the crypto king,
Bitcoin (BTC). Based on ATOM’s on-chain metrics, it seems that
there is no disparity between the negative and positive sentiments.
It shows a balance with only a little difference spotted at 0.188,
with the positive sentiment being 9.531. The negative sentiment
remains at 9.413. NFT volume for Cosmos has spiked to $778,000 as
observed on September 7. Related Reading: Crypto Words
‘Metaverse’ And ‘Altcoin’ Get Spot In Merriam-Webster Dictionary –
Yeet! 5 Unique Wallet Addresses Buy ATOM NFTs The unique wallet
addresses that purchased ATOM NFTs increased to five. On the other
hand, both these metrics decreased while ATOM was in its glory in
price hikes. More so, total NFT volume has nosedived to roughly
$223,000 a few days ago, and at that time, the unique wallet
addresses were limited to two. Judging by the four-hour chart of
ATOM/USDT, the coin may hover in the green lane for the short term.
This assumption was validated by ATOM’s 20 EMA going over the 50
EMA. In the long term, the 200 EMA has shown that ATOM
could retrace and register new lows in the coming months as it sits
far from the short-term indicators. Further, ATOM investors and
holders need to carefully watch out for any changes in volatility.
ATOM’s Bollinger Bands revealed that the token’s price increase has
been precipitated by an uptick in volatility. With that in mind, it
would be wise for investors to anticipate a downturn and play their
cards right. Cosmos 2.0 Rolls Out September 28 Cosmos’ development
activity has also spiked after the blockchain company has announced
plans of blockchain update. Cosmos 2.0 is looming and as such, this
has pumped up ATOM’s price by 40%. Frens Validator team, a
passionate and supportive community of ATOM revealed the unfolding
of important Cosmos developments in 2022. Frens Validator team has
posted an announcement via Twitter regarding the Cosmos 2.0 design
which will soon be rolled out on September 28 in Medellin,
Colombia. The Cosmoverse 2022 is dubbed to be the biggest Cosmos
event for Web3 developers, contributors, entrepreneurs, investors,
and DApps owners. The Cosmos 2.0 is designed to enhance the overall
architecture and functionality of Cosmos (ATOM). These developments
have triggered the surge of ATOM price from September 7 to 8,
shooting from $12.3 to $17.5 in less than two days. Related
Reading: Why Dogecoin Co-Creator Is Accusing Mark Cuban Of Scamming
Investors ATOM total market cap at $4.5 billion on the daily chart
| Source: TradingView.com Featured image from UseTheBitcoin, chart
from TradingView.com
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