Cosmos (ATOM) Price Rally !!

• Cosmos (ATOM) is a network of blockchains that are capable of scaling and interoperating. The goal of the project is to build an Internet of blockchains that allows blockchains to maintain sovereignty, communicate with other blockchains within the ecosystem, and handle transactions quickly – making it ideal for multiple applications.

• According to the project’s description, Cosmos aims to solve some of the “hardest problems” that the blockchain industry faces. It aims to provide an alternative to “slow, expensive, inexorable and environmentally harmful” “proof-of-work” protocols, such as those used by Bitcoin.

• In addition, the project aims to make blockchain technology less complicated and “easier” for developers by providing a modular framework to demystify decentralized apps and an Interblockchain communication protocol to facilitate communication between blockchain networks, thus avoiding fragmentation in the blockchain industry.

• The history of Cosmos can be traced back to 2014 with the founding of Tendermint (a key contributor) and the publication of a white paper on the network in 2016, followed by a token sale in 2019.

• ATOM is the primary token of the Cosmos Hub and aims to secure the Hub’s interchain services.

• ATOM tokens are generated through a hybrid P2P algorithm and are used to protect the Cosmos Hub (the flagship blockchain of the project). This cryptocurrency also plays a part in the governance of the network.

The price of Cosmos Hub (ATOM) has gone up today!

Cosmos Hub’s (ATOM) price has risen to $8.68 at the current time, following a 24-hour increase of $202.964.297.39, which is a 2.72 percent increase in the past 24 hours. Additionally, the price has increased by 10.70 percent in the last 7 days. Currently, the circulating supply of ATOM stands at 290 million units, and the total market capitalization of Cosmos Hub is $2.538 billion.

Technical Analysis

After a few unsuccessful attempts, the price finally broke above the resistance at $7.50, and then retested it and made it to our target. This is a key level, so it’s a big test.

The price needs to break above it to confirm an uptrend, and then it could go up to around $10.00. (Set a price alert). The momentum is bullish, but it’s changing. The MACD Line is higher than the MACD Signal Line, and the RSI is higher than 55, so it looks like the momentum has peaked.

The MACD Histogram bar is dropping, which means the momentum is weakening. The nearest support zone is $7.5, followed by $6.30, then $8.5, and finally $10.00!

On a daily timeframe level, the price action of $ATOM has broke out its Falling Wedge pattern level where the price action after breaking out its MSS level bounced back 16% and got retested again after taking out Buy Side liquidity levels

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Price History

According to the latest info, the price of Cosmos is $8.27 right now and ATOM is number 24 in the whole crypto world. The supply of Cosmos is around $3.9 billion, while ATOM is worth 373.4 million. In the last 24 hours, the price of the crypto has gone up by a whopping $0.27. Over the last week, ATOM has gone up by 5.47%, and over the last month, it’s gone up by 20.26%, adding up to a whopping $1.68. This rapid growth means that if the coin keeps going, it could become a real asset if it keeps growing.

All-Time High

It’s been almost two years since we last saw a high price for Cosmos Hub, and it’s been a while since we’ve seen a low price. 

The last time the highest price was paid for Atom was on Jan al, 2022, when it was $45.45. So far this year, the price has dropped by 80.84%, which is a lot!

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All Time Low

The lowest price we’ve ever seen for Cosmos Hub was $1.16 back in March 2020 (more than 3 years ago). The current price is 6.14% more than the previous low price.

Cosmos has a supply inflation rate of 30.47%, which means 87.26 million ATMs were minted in the past year. It’s currently the 9th biggest coin in the POC sector and the 15th biggest in Layer 1

Price Prediction

Cosmos ATOM rate is expected to be at an average of $8.18 for the month of November 2023, based on the price movements of the cryptocurrency at the start of 2023. The minimum and maximum price of the cryptocurrency can be expected to be at a minimum of $7.89 per coin and a maximum price of $8.47 per coin. The potential return on investment is estimated at 7.5%.

Three Australian Crypto ETFs Intend To Delist Their Offerings

According to letters revealed on November 2, the businesses behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a request to remove their quotes on Cboe Australia.

DYdX, Decentralized Crypto Exchange, Open Sources ‘V4’ Code for Upcoming Cosmos Chain

dYdX, the decentralized exchange(DEX), announced Tuesday that it will open-source its code. This marks the start of dYdX v4, the exchange’s much-anticipated upgrade and the shift from being a layer-2 Ethereum-based network to a standalone blockchain within the Cosmos ecosystem.

Open-source code is the cornerstone of blockchain development. It provides developers with the transparency they need to review code, find issues, and make improvements.

Avalanche is now able to use IBC-enabled dApps thanks to Cosmos (ATOM).

The Avalanche subnet of the Landslide network is set to enable interoperable connection between the Cosmos Hub Protocol (ATOM) and Avalanche Protocol (AVAX), as well as more than 100 chains that support IBC.

On 7 November, Santiment, a market intelligence platform, published a post on X, sharing insights on the top cryptocurrencies by development activity. On the top of the list are ADA, DOT, KSM, HBAR, APT, SNT, LINK, ATOM, ETH, and VEGA.

A seasoned crypto investor is bullish on the Cosmos ecosystem (ATOM), ahead of a potentially $200 million Tidal Wave, according to venture capitalist Arthur Cheong. 

“I’m very optimistic about the Cosmos ecosystem,” he said on the social platform X. “DYDX’s (DYdX) migration is going to increase the total value locked in the Cosmos ecosystem, and it’s going to bring in a lot of activity.”

Conclusion

One of the most innovative blockchain networks is Cosmos (ATOM). It focuses on scalability and makes it easy for developers to get involved. The project has seen a recent increase in value, and its technical indicators are promising. The integration with Avalanche highlights its potential for smooth inter-chain communications. Expert support, such as that of venture capital investor Arthur Cheong, strengthens its position.
Cosmos is a cryptocurrency to keep an eye on as it progresses in the ever-evolving crypto world.