Cosmos’ [ATOM] recognition witnessed a surge very not too long ago. In line with the crypto analytics platform, CoinGecko, it was among the many high cryptocurrencies by way of trending searches.
Not solely this, however a number of constructive developments occurred within the Cosom ecosystem that painted a vibrant image for ATOM.
⚡️Trending Searches by @CoinGecko
11 October 2022$EVMOS $OP $GMX #BNBChain $BNB #BNB $NEAR #NEAR $MATIC $ATOM $MAGIC $HT $LUNA pic.twitter.com/x91NBRhRZH— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) October 11, 2022
In line with the information analytics platform, Messari’s newest tweet, ATOM 2.0 and the addition of liquid staking will permit ATOM stakers to each improve safety for the Hub and enhance liquidity throughout the ecosystem.
This growth appeared promising because it added vital worth to the community. Apparently, regardless of paying increased charges to protocols, ATOM’s income remained stagnant.
ATOM 2.0 and the addition of Liquid staking will permit $ATOM stakers to each improve safety for the Hub and enhance liquidity throughout the ecosystem.
Will these modifications carry worth again to ATOM holders? @cosmos pic.twitter.com/q4QmZQ5Wyk
— Messari (@MessariCrypto) October 12, 2022
ATOM’s value additionally didn’t correspond to the positives because it registered unfavourable 7% progress within the final week. At press time, ATOM was buying and selling at $12.06.
Nonetheless, a take a look at ATOM’s on-chain metrics informed a unique story. Even supposing ATOM was struggling to climb the ladder, a lot of the metrics have been in ATOM’s favor.
Right here’s AMBCrypto’s Value Prediction of Cosmos (ATOM) for 2023-24
Look each methods
Other than the aforementioned developments, ATOM additionally topped the listing of IBC (Inter Blockchain Communication) initiatives by way of weekly lively customers. This episode proved the elevated recognition of ATOM within the crypto group.
High #IBC Tasks by Weekly Lively Customers 🔥
🥇 $ATOM @cosmos
🥈 $OSMO @osmosiszone
🥉 $EVMOS @EvmosOrg$CRO @cronos_chain$LUNA @terra_money #CroFam @cryptocom$UMEE @Umee_CrossChain$SCRT @SecretNetwork$MNTL @AssetMantle$EROWAN @sifchain#IBCGang #Cosmonauts@MapOfZones pic.twitter.com/FiGvYMMW8V— Cosmos Day by day ⚛️ (@CosmosATOMDaily) October 11, 2022
By the way, regardless of the latest value drop, ATOM’s quantity took the alternative route and elevated over the past week, which was a plus level for the blockchain.
Although ATOM’s growth exercise dropped barely on 12 October, it was significantly up when in comparison with the earlier week. As indicated by CoinGecko, ATOM’s recognition was but once more confirmed after its social quantity spiked within the final week.
Accident-prone ATOM?
Surprisingly, whereas ATOM’s on-chain metrics have been fairly constructive, its day by day chart painted a bearish image as a lot of the market indicators recommended a value plummet within the days to come back.
As an example, ATOM’s Relative Energy Index (RSI) and Chaikin Cash Circulate (CMF) each stayed fairly under the impartial line, a transparent bearish indicator.
Moreover, the Transferring Common Convergence Divergence (MACD) additionally painted the same image. The MACD favored the sellers.
The Exponential Transferring Common (EMA) Ribbon displayed a tussle between the bulls and the bears. Nonetheless, when placing collectively all the indications, the opportunity of the bears turning out to be victorious appeared extra probably.