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Information about Cosmos (ATOM)
COSMOS is an ecosystem of blockchains that are scalable and interoperable. Before COSMOS, blockchains were often isolated and could not communicate with each other. In addition, they were challenging to build and could only handle a small number of transactions per second.
COSMOS was created to solve these problems with a new technological vision. In scientific terms, COSMOS is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.
COSMOS makes it easy for developers to build anything on a blockchain by breaking down barriers between blockchains while allowing them to transact with each other. The ultimate goal of COSMOS is to create an Internet of Blockchain, a network of interconnected blockchains in a decentralized manner. Once these links are completed, tokens can be seamlessly transferred quickly and securely from one region to another.
ATOM is the base token of the COSMOS Network. The role of the ATOM token is similar to Ether on the Ethereum 2.0 network. In addition, ATOM is also used for the following purposes:
News
ATOM crypto saw a 6% rise within a day, successfully breaking a declining trendline. Staying above the critical resistance level at 5 USD is essential for further upward momentum.
The MACD indicator shows weak bullish momentum, indicating a potential stabilization phase in the market. Should ATOM establish positions above 5 USD, further price rallies may occur.
Significant liquidation concentrations are noted near 4.87 USD and 5 USD. Maintaining prices above these levels is crucial to avoid bearish market reactions.
Cosmos ($ATOM) surged by 10%, reaching 4.86 USD after eToro’s announcement of staking integration. Despite this, ATOM’s performance remains disappointing, down 57.3% in the year, compared to other cryptocurrencies.
Cosmos aims to become the ‘Internet of Blockchains’, focusing on interoperable applications. Recent advancements include the open-sourcing of Evmos, expanding compatibility across Ethereum-based appchains within the Cosmos ecosystem.
Ongoing security worries have arisen due to possible ties to the Lazarus Group, affecting investor confidence. Informal Systems has proposed audits to enhance governance and tackle issues in the Liquid Staking Module.
Nubank has recently expanded its cryptocurrency services by adding four altcoins: Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). This decision is part of its strategy to cater to the growing demand for digital assets.
The bank’s revenue growth has been extraordinary, climbing to nearly 3 billion USD in 2024, reflecting an increase of 1,124% compared to previous years. This rapid expansion aligns with the overall growth of the Brazilian economy and interest in cryptocurrency.
ATOM’s recent price action shows a potential recovery as it closely approached the 0.618 Fibonacci level, indicating strong support. The TD Sequential indicator also provided a buy signal on weekly charts, suggesting that selling pressure has decreased.
With EMA crossovers signaling an increase in upward momentum and market liquidations showing lower selling pressure, ATOM’s indicators indicate a shift towards a bullish trend. Bollinger Bands further confirm possible price rebounds, favoring a potential breakout.
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