A day after the much-anticipated Merge, many cryptocurrencies have misplaced greater than they gained. The whole market is crimson, and even the highest performers should not displaying indicators of worth features. Many traders 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 crimson in its 1 hour, 24 hours and seven days worth features. At the moment, the Bitcoin worth is $19.659.95 representing a 2% loss in 24 hours.
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September 16 knowledge reveals 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 presently at $1,451.49, displaying 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 features.
Cosmos ATOM Features Amid Worth Crash
Cosmos ATOM worth presently 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 progress on this interval, even when others wrestle.
Its worth chart immediately, September 16, confirmed a steady rise in inexperienced. There have been some dips, however to not the crimson 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 learning the value motion have famous that ATOM highs and lows remained inside the ascending channel trendlines. Additionally, the value recorded a bull break outdoors the channel and tapped a 200-day shifting 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 would retest the 200-day MA to flip its degree to assist.
What Elements Are Pushing Cosmos Coin
Many components could possibly 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 might 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 charges, thereby rising stakers rewards.
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Information reveals that ATOM presents 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 stress on ATOM when deployed in DeFi platforms throughout blockchains.
All these elevated actions within the ecosystem are pushing ATOM costs upwards. Analysts count on to see extra features because the community grows.
Featured picture from Pixabay and chart from TradingView.com
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