{"id":633429,"date":"2024-08-06T17:00:30","date_gmt":"2024-08-06T17:00:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=633429"},"modified":"2024-08-06T11:28:19","modified_gmt":"2024-08-06T11:28:19","slug":"atom-notches-10-gain-in-price-after-significant-sell-pressure","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/atom-notches-10-gain-in-price-after-significant-sell-pressure\/","title":{"rendered":"ATOM Blows Up 10% After Significant Sell Pressure"},"content":{"rendered":"

Cosmos Hub\u2019s ATOM token bursts into the scene after capturing some momentum from the market\u2019s recent dismal performance. According to <\/span>Coingecko<\/span><\/a>, the token is up more than 10% since yesterday\u2019s market overreaction. This is largely due to Cosmos\u2019s continuous efforts to innovate despite the performance of the market which has now <\/span>rebounded<\/span><\/a> over 8% in the past 24 hours.\u00a0<\/span><\/p>\n

Related Reading: Binance Coin In Turmoil: Nearly 10% Value Erased In Market Shake-Up<\/a><\/div>\n

This month, ATOM holders are eyeing several developments that will bring more attention to the platform. These developments might help push ATOM\u2019s position in the market in favor of the bulls in the long run.<\/span><\/p>\n

New On Boards For ATOM And Other Achievements<\/strong><\/h2>\n

Although ATOM\u2019s market performance leaves much to be desired, Cosmos Hub continues to move within the crypto community, bringing in value from across the space.\u00a0<\/span><\/p>\n

Lava Network, a blockchain infrastructure platform, recently <\/span>launched<\/span><\/a> its mainnet while garnering a total of 50 billion network requests from its supported chains. The network was built using Cosmos\u2019s SDK, giving a look-see for developers who might want to build on the platform.\u00a0<\/span><\/p>\n

\n

Lava is certainly on fire after its mainnet launch \ud83c\udf0b@lavanetxyz<\/a>, powered by CosmosSDK, is providing decentralized and accountable RPCs for the Cosmos Hub.<\/p>\n

Welcome to the interchain! \u269b\ufe0f https:\/\/t.co\/9bxZZuzzux<\/a><\/p>\n

\u2014 Cosmos Hub \u269b\ufe0f (@cosmoshub) August 5, 2024<\/a><\/p><\/blockquote>\n

Cosmos itself also experienced some growth. According to Everstake\u2019s recent thread on the platform\u2019s performance for the first half of the year, Cosmos saw an <\/span>increase<\/span><\/a> in staked ATOM tokens on the platform which translates to a higher engagement rate in Cosmos\u2019s delegation. The thread also featured several chains that are part of the broader Cosmos Hub network.\u00a0<\/span><\/p>\n

\n

1\/8 We are excited to present another entry in our series of staking reports, covering the progress in #Cosmos<\/a> Interchain family, including @cosmoshub<\/a>, @CelestiaOrg<\/a>, @injective<\/a>, @osmosiszone<\/a>, @KAVA_CHAIN<\/a>, and @babylonlabs_io<\/a>.<\/p>\n

This thread presents a brief overview of their\u2026 pic.twitter.com\/3pEU24kULr<\/a><\/p>\n

\u2014 Everstake (@everstake_pool) August 1, 2024<\/a><\/p><\/blockquote>\n

On Celestia, the year-to-date active addresses jumped by a significant figure – from 308.7k to 845.7k which accounts for over 69% staking ratio, the highest in the Cosmos network.\u00a0<\/span><\/p>\n

ATOM market cap currently at $1.8 billion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Injective also saw some growth after implementing <\/span>gas compression<\/span><\/a>, a feature that significantly decreases transaction fees, during the start of the year. The market platform saw total staked INJ tokens increase to 60.4 million INJ. Just today, INJ processed a total of $200 million worth of transactions on its native decentralized exchange (DEX), marking another milestone for the platform.\u00a0<\/span><\/p>\n

These are only some of the factors that will inevitably contribute to Cosmos Hub\u2019s position to solidify in the market. With some time, ATOM might rebound from its cautious state.\u00a0<\/span><\/p>\n

Investors Should Be Cautious Of This Level<\/strong><\/h2>\n

As of writing, the token still sits on a fairly unstable price range at between $3-$5. This shows the token’s precarious position in the short term as bearishness still lingers on the market.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss<\/a><\/div>\n

ATOM\u2019s minute gain can be attributed to the market\u2019s recent jump and the most recent developments on-chain, both of which are not enough to capture any significant value in the short term. Thus, investors should remain cautious of ATOM as it can be more susceptible with bearish pressure in the short term.\u00a0<\/span><\/p>\n

However, ATOM bulls can take advantage of the lower volatility of the token to settle between the $3 to $5 range before accumulating momentum for a major breakthrough in the long term.\u00a0<\/span><\/p>\n

Featured image from PXfuel, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cosmos Hub\u2019s ATOM token bursts into the scene after capturing some momentum from the market\u2019s recent dismal performance. According to Coingecko, the token is up more than 10% since yesterday\u2019s market overreaction. This is largely due to Cosmos\u2019s continuous efforts to innovate despite the performance of the market which has now rebounded over 8% in the past 24 hours.\u00a0 Related Reading: Binance Coin In Turmoil: Nearly 10% Value Erased In Market Shake-Up This month, ATOM holders are eyeing several developments that will bring more attention to the platform. These developments might help push ATOM\u2019s position in the market in favor of the bulls in the long run. New On Boards For ATOM And Other Achievements Although ATOM\u2019s market performance leaves much to be desired, Cosmos Hub continues to move within the crypto community, bringing in value from across the space.\u00a0 Lava Network, a blockchain infrastructure platform, recently launched its mainnet while garnering a total of 50 billion network requests from its supported chains. The network was built using Cosmos\u2019s SDK, giving a look-see for developers who might want to build on the platform.\u00a0 Lava is certainly on fire after its mainnet launch \ud83c\udf0b@lavanetxyz, powered by CosmosSDK, is providing decentralized and accountable RPCs for the Cosmos Hub. Welcome to the interchain! \u269b\ufe0f https:\/\/t.co\/9bxZZuzzux \u2014 Cosmos Hub \u269b\ufe0f (@cosmoshub) August 5, 2024 Cosmos itself also experienced some growth. According to Everstake\u2019s recent thread on the platform\u2019s performance for the first half of the year, Cosmos saw an increase in staked ATOM tokens on the platform which translates to a higher engagement rate in Cosmos\u2019s delegation. The thread also featured several chains that are part of the broader Cosmos Hub network.\u00a0 1\/8 We are excited to present another entry in our series of staking reports, covering the progress in #Cosmos Interchain family, including @cosmoshub, @CelestiaOrg, @injective, @osmosiszone, @KAVA_CHAIN, and @babylonlabs_io. This thread presents a brief overview of their\u2026 pic.twitter.com\/3pEU24kULr \u2014 Everstake (@everstake_pool) August 1, 2024 On Celestia, the year-to-date active addresses jumped by a significant figure – from 308.7k to 845.7k which accounts for over 69% staking ratio, the highest in the Cosmos network.\u00a0 Injective also saw some growth after implementing gas compression, a feature that significantly decreases transaction fees, during the start of the year. The market platform saw total staked INJ tokens increase to 60.4 million INJ. Just today, INJ processed a total of $200 million worth of transactions on its native decentralized exchange (DEX), marking another milestone for the platform.\u00a0 These are only some of the factors that will inevitably contribute to Cosmos Hub\u2019s position to solidify in the market. With some time, ATOM might rebound from its cautious state.\u00a0 Investors Should Be Cautious Of This Level As of writing, the token still sits on a fairly unstable price range at between $3-$5. This shows the token’s precarious position in the short term as bearishness still lingers on the market.\u00a0 Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss ATOM\u2019s minute gain can be attributed to the market\u2019s recent jump and the most recent developments on-chain, both of which are not enough to capture any significant value in the short term. Thus, investors should remain cautious of ATOM as it can be more susceptible with bearish pressure in the short term.\u00a0 However, ATOM bulls can take advantage of the lower volatility of the token to settle between the $3 to $5 range before accumulating momentum for a major breakthrough in the long term.\u00a0 Featured image from PXfuel, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":633445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,37576,37575,1557],"class_list":["post-633429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-atom","tag-cosmos","tag-cryptocurrencies"],"acf":[],"yoast_head":"\nATOM Shows 10% Surge in Price After Significant Sell Pressure<\/title>\n<meta name=\"description\" content=\"Cosmos Hub\u2019s ATOM token bursts into the scene after capturing some momentum from the market\u2019s recent dismal performance. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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