Skip to content Skip to footer

Can Cosmos [ATOM] continue its impressive price resilience in the long run – AMBCrypto News

Can Litecoin’s [LTC] long-awaited MWEB update shine a light to end this darkness
Cosmos, Fantom, and Chainlink Price Analysis: 21 May
Can Cosmos [ATOM] continue its impressive price resilience in the long run
Why USD Coin [USDC] may not yet be ready to overtake Tether [USDT]
Avalanche: Caught in a snowstorm, AVAX bears the brunt of the crash
How Bitcoin’s [BTC] consolidation phase can yield profits for traders
Has Bitcoin staunched its bleeding, or can further downside be expected
The LUNA of it all – Why Bitcoin fell below $30K
This may be the white swan to the black swan of UST’s crash
The ‘underground’ story behind China’s ban on crypto-mining
Ethereum [ETH] attempting to sustain itself over $2k level thanks to…
What these data points tell us about where Ethereum is heading
Ethereum: How investors can hope to save $125B of ETH
Ethereum finds a local bottom but these levels can save your portfolio
Ethereum: Will ‘almost into the opportunity zone’ be enough for ETH
With tokens licking their wounds and healing from the unexpected bloodbath witnessed in May, some tokens haven’t exactly followed the “slow and steady” path to recovery. One such token is ATOM, and the token witnessed a huge spike in its price in the past 24 hours. The sudden spike accounted for a frantic yet rewarding couple of hours for the Cosmos blockchain.
Despite an impressive 24 hours for the token, can ATOM hold the walls of its fort and strengthen itself? Can one earthquake shatter its boundaries, leaving the token exposed all over again?
Let’s see what the metrics have to say…
At the time of writing, ATOM stood at $11.11 due to the token’s bull run on 20 May. The bulls ticked the prices upwards to $12 but the token eventually settled at $11.11. This positive price movement has been a huge relief for many in the Cosmos ecosystem, especially after the Terra collapse.
The volume of the token was also up by leaps and bounds since the 100% hike witnessed on 20 May. The volume stood at $545 million with a slight dip that followed the hike at the time of writing. Upon further observation, it was found that this is still 1/3rd of the volume at the peak of the crash. On 12 May, the volume on Cosmos tipped $1.59 billion which had been tipping ever since before the spike witnessed on 20 May.
Source: CoinMarketCap
The Terra crash is considered as one of the biggest crypto crashes to date with approximately $40 billion capitulation across the market. Many major cryptos were largely affected throughout the collapse and ATOM too, fell below $10. This was a very important price barrier for investors who have been very active on the network recently.
Furthermore, Cosmos founder, Ethan Buchman also pointed  out that “Terra put Cosmos through the ringer” and how, eventually, the blockchain was able to get out of it mildly unaffected. One of the reasons for the strength of the network lies in the independence of the sovereign cosmos chains. “If one fails, others are unaffected,” said Buchman who went on to appreciate the security and resilience of the Cosmos.
The RSI of ATOM also signalled a period of consolidation for the token as its value dropped to 50. The value had spiked to 60 earlier on 20 May during the surge but came down to the neutral zone. Steady accumulation and transactions can, however, retrieve the bullish run-on Cosmos in the near future.
Source: Trading View
Self-proclaimed “Cosmos airdrops specialist”, Thyborg recently tweeted about the latest upgrade on the Cosmos network. He believes “Interchain security will the most significant upgrade since IBC last year.” Thyborg also insists that post-implementation, new crypto projects will look to “at least consider” starting their Cosmos chains.
Thyborg then calls out Cosmos as the “world leader in interoperable smart contract blockchain”. The Interchain security will enable security measures for consumer chains to be secured by the Cosmos market cap. This will ensure much more safety for these chains at a time of increased scrutiny over blockchain security.
There is belief in the ecosystem that this upgrade will be a great addition to the Cosmos network. It is also said to have the bandwidth to serve home to new consumer chain projects on the Cosmos network.

Cosmos, Fantom, and Chainlink Price Analysis: 21 May
Why USD Coin [USDC] may not yet be ready to overtake Tether [USDT]
Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.
Cosmos, Fantom, and Chainlink Price Analysis: 21 May
Cosmos: New ‘interchain security developments’ has had this effect on ATOM
Cosmos [ATOM] sees highest daily rally amongst top 30 cryptos, but can it last
Cosmos: ATOM likely to see a bounce, but how high can it reach
Cosmos [ATOM] seems to be rallying, but read this before you buy in
Bitcoin Cash, Tron, Cosmos Price Analysis: 02 May
Your email address will not be published.

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.


Share 0
Tweet 0
Pin it 0
Share 0

Leave a comment