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Cosmos hits highest point since May as ATOM expands 25%

Cosmos (ATOM) rose 25%, what is considered the highest since trading around $15.70 on May 8.

  • ATOM trading volume surges by 89% in the last 24 hours
  • Cosmos NFT Volume Soars to $778,000 as Seen on Sept. 7
  • Cosmos 2.0 boosts ATOM price by 40%

Although recent numbers are nowhere near ATOM’s ATH of $44.45, the latest developments appear to have restored investor confidence and confidence.

ATOM trading volume also increased by 89% in the last 24 hours. However, ATOM’s dilemma is how to recover from taking the lead from the king of cryptocurrencies, Bitcoin (BTC).

Based on ATOM’s on-chain metrics, there seems to be no disparity between negative and positive sentiment.

It shows balance with only a small difference found at 0.188 and positive sentiment at 9.531. Negative sentiment remains at 9.413. As observed on September 7th, Cosmos’ NFT volume surged to $778,000.

Buy 5 Unique Wallet Address ATOM NFTs

The number of unique wallet addresses that have purchased ATOM NFTs has increased to 5. On the other hand, both of these metrics declined while ATOM was glorified with price increases. Additionally, the total amount of NFTs plummeted to around $223,000 a few days ago, at which point it was limited to two unique wallet addresses.

Judging from ATOM/USDT’s 4-hour chart, the coin may hover in the green lane in the short term. This assumption was verified by ATOM’s 20 EMA exceeding the 50 EMA.

Longer term, the 200 EMA shows that ATOM is far from a short-term indicator and may hit new lows in the coming months. Additionally, ATOM investors and holders should be aware of changes in volatility.

ATOM’s Bollinger Bands reveal that the token’s price rise was caused by increased volatility. With that in mind, it would be wise for investors to anticipate a recession and play their cards appropriately.

Cosmos 2.0 rolls out on September 28th

Cosmos development activity also surged after the blockchain company announced plans to update its blockchain.

With Cosmos 2.0 on the horizon, ATOM prices are up 40%. ATOM’s passionate and supportive community, the Frens Validator team, has revealed that significant development of Cosmos will roll out in 2022.

The Frens Validator team posted on Twitter announcing the design of Cosmos 2.0, which will soon be deployed on Sept. 28 in Medellín, Colombia.

Cosmoverse 2022 has been dubbed the biggest Cosmos event for Web3 developers, contributors, entrepreneurs, investors and DApps owners.

Cosmos 2.0 is designed to enhance the overall architecture and functionality of Cosmos (ATOM). These developments caused ATOM’s price to skyrocket on Sept. 7-8, with him jumping from $12.3 to $17.5 in less than two days.

ATOM total market cap at $4.5 billion on the daily chart | Source: TradingView.com

Featured image from UseTheBitcoin, chart from TradingView.com

Cosmos hits highest point since May as ATOM expands 25%

Source link Cosmos hits highest point since May as ATOM expands 25%

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