A day after the much-anticipated Merge, many cryptocurrencies have misplaced greater than they gained. The whole market is purple, and even the highest performers aren’t exhibiting indicators of worth positive factors. Many buyers predicted a downtrend reversal after Ethereum’s improve to a proof-of-stake mechanism.
However proper now, the reverse is the case. As an illustration, the primary crypto has remained purple in its 1 hour, 24 hours and seven days worth positive factors. Presently, the Bitcoin worth is $19.659.95 representing a 2% loss in 24 hours.
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September 16 information exhibits that Bitcoin misplaced 0.61% in 1 hour, 1.88% in 24 hours and 6.26% in 7 days.
Other than Bitcoin, Ethereum has misplaced extra. ETH’s worth is at present at $1,451.49, exhibiting a transfer away from the earlier $1700+. The Merge hasn’t resulted within the worth push as many anticipated.
However whereas many cryptos are recording pullbacks in costs, Cosmos ATOM has continued its positive factors.
Cosmos ATOM Features Amid Worth Crash
Cosmos ATOM worth at present stands at $16.16 after including 11.49% within the final 24 hours. The coin ranks quantity 20 on the CoinMarketCap crypto rating. ATOM has recorded some worth development on this interval, even when others battle.
Its worth chart immediately, September 16, confirmed a steady rise in inexperienced. There have been some dips, however to not the purple zone. As an illustration, ATOM’s worth stopped at $14.65 on September 15. This morning, it rose to $14.73 and continued climbing till its present worth of $16.16 at press time.
Analysts finding out the worth motion have famous that ATOM highs and lows remained inside the ascending channel trendlines. Additionally, the worth recorded a bull break exterior the channel and tapped a 200-day transferring common earlier than correcting to the midline and 20-MA, confirming every assist.
After testing the assist, ATOM worth continued its uptrend and is buying and selling within the present vary topside. Analysts imagine it’d retest the 200-day MA to flip its degree to assist.
What Components Are Pushing Cosmos Coin
Many elements might be linked to the expansion of ATOM. One such occasion is the transfer of many protocols from Terra to Cosmos Hub SDK. In early September, Delphi Digital introduced it will construct new initiatives on the Cosmos community.
As extra DeFi protocols and decentralized apps (DApps) flood the ecosystem and take part in its interchain safety system, ATOM worth skyrockets. The AMMs, DeFi, and DApps working on the community enhance staking and costs, thereby rising stakers rewards.
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Knowledge reveals that ATOM gives 17.75% APY, and 66.75% of the cash in circulation are staked. Additionally, Cosmos is planning to launch a liquid staking function that may enhance purchase strain on ATOM when deployed in DeFi platforms throughout blockchains.
All these elevated actions within the ecosystem are pushing ATOM costs upwards. Analysts anticipate to see extra positive factors because the community grows.
Featured picture from Pixabay and chart from TradingView.com
