Cryptocurrencies are pumping, however ATOM is lagging.
ATOM’s fundamentals stay robust, and its staking rewards are above common.
ATOM is buying and selling in a symmetrical triangle, signaling a possible breakout.
The crypto market has been pumping for the previous week and is now near testing the $2 trillion market cap. In an atmosphere the place some altcoins are up by over 50%, Cosmos ATOM/USD hasn’t moved one bit. It has misplaced somewhat little bit of its worth within the final 7-days. At this level, it is just pure to surprise, is ATOM value HODLING.
Cosmos occurs to be one of the vital misunderstood cryptocurrencies right this moment. This has quite a bit to do with its tokenomics. In contrast to Bitcoin, Cosmos is an inflationary cryptocurrency. This provides a whole lot of traders jitters about investing in it.
Nonetheless, one factor that’s typically forgotten is that the actual deal when holding Cosmos is staking. Cosmos occurs to have a number of the highest staking rewards of the foremost cryptocurrencies. As an illustration, for the time being, some exchanges are providing an APY of as much as 30% for anybody staking ATOM for 120-days. This will simply offset losses from worth fluctuations in between. At a time like this, when the crypto market will not be absolutely within the clear but, a cryptocurrency with such a excessive APY like ATOM is a bonus for traders.
Apart from, Cosmos occurs to be one of many essentially strongest cryptocurrencies. Due to its IBC expertise that’s making it straightforward for various blockchains to speak with one another, its ecosystem has grown exponentially, making it one of many fastest-growing crypto ecosystems out there.
ATOM buying and selling in a symmetrical triangle buying and selling sample
ATOM is at the moment buying and selling in a symmetrical triangle sample. Whereas this implies it may well escape in any route, there’s a excessive probability it may escape to the upside now that the broader market is popping bullish once more. In such a state of affairs, ATOM may simply check costs above $40 within the quick time period.
ATOM is buying and selling sideways whereas the broader market is gaining upside momentum. Nonetheless, with excessive staking rewards, and among the best applied sciences in crypto, ATOM is a fairly good purchase at present costs.