Cosmos (ATOM), which has soared by 25%, is the highest level since May 8, when it traded for $15.70.
- ATOM’s trading volume spikes by 89% in past 24 hours
- Cosmos’ NFT volume surged to $778,000 as seen on September 7
- Cosmos 2.0 triggers 40% price pump for ATOM
Even though the recent figures are far from ATOM’s ATH seen at $44.45, the latest developments seem to have revived investor trust and confidence.
ATOM’s trading volume has also increased by 89% in the past 24 hours. However, ATOM’s dilemma is how to rally by taking the lead from the crypto king, Bitcoin (BTC).
Based on ATOM’s on-chain metrics, it seems that there is no disparity between the negative and positive sentiments.
The balance is apparent with only 0.188 difference, while the positive sentiment was 9.531. The negative sentiment is still at 9.413. The NFT volume for Cosmos increased to $778,000, as reported on September 7.
5 Unique Wallet Addresses Buy ATOM NFTs
Five wallet addresses were used to purchase ATOM NFTs. Both of these metrics have declined while ATOM enjoyed its price increases. Even more, NFT volume dropped to $223,000 just a few days back, with only two unique wallet addresses.
AtOM/USDT’s four-hour chart shows the coin might be in the green for short periods. This assumption was validated by ATOM’s 20 EMA going over the 50 EMA.
Long-term, 200 EMA indicates that ATOM can retrace or register new lows as long as the indicator is not influenced by short-term trends. ATOM holders and investors need to be alert for changes in volatility.
ATOM’s Bollinger Bands revealed that the token’s price increase has been precipitated by an uptick in volatility. Investors should be able to predict a decline and still play the right cards.
Cosmos 2.0 Rolls Out September 28
Cosmos’ development activity has also spiked after the blockchain company has announced plans of blockchain update.
Cosmos 2.0 is looming and as such, this has pumped up ATOM’s price by 40%. Frens Validator Team, a supportive and passionate community within ATOM, revealed key Cosmos developments that will take place in 2022.
Frens Validator has made a Twitter announcement about Cosmos 2.0, which will be rolled-out in Medellin on September 28, Colombia.
Cosmoverse 2022 will be the largest Cosmos event to benefit Web3 contributors, Web3 entrepreneurs, investors and DApps owner.
Cosmos 2.0 is an enhancement to the Cosmos architecture and functionality (ATOM). This has triggered an explosion in ATOM’s price, which jumped from $12.3 – $17.5 within two days.
AtOM market total at $4.5B on daily chart | Source: TradingView.com Featured image by UseTheBitcoin. Chart from TradingView.com