Cryptocurrencies are pumping, however ATOM is lagging.
ATOM’s fundamentals stay sturdy, 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 surroundings the place some altcoins are up by over 50%, Cosmos ATOM/USD hasn’t moved one bit. It has misplaced a bit little bit of its worth within the final 7-days. At this level, it’s only pure to surprise, is ATOM value HODLING.
Cosmos occurs to be some of the misunderstood cryptocurrencies as we speak. This has so much to do with its tokenomics. In contrast to Bitcoin, Cosmos is an inflationary cryptocurrency. This offers loads of buyers jitters about investing in it.
Nevertheless, one factor that’s typically forgotten is that the true deal when holding Cosmos is staking. Cosmos occurs to have a few of the highest staking rewards of the key cryptocurrencies. As an illustration, in the intervening time, some exchanges are providing an APY of as much as 30% for anybody staking ATOM for 120-days. This may simply offset losses from worth fluctuations in between. At a time like this, when the crypto market shouldn’t be absolutely within the clear but, a cryptocurrency with such a excessive APY like ATOM is a bonus for buyers.
Moreover, 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 available in the market.
ATOM buying and selling in a symmetrical triangle buying and selling sample
ATOM is presently buying and selling in a symmetrical triangle sample. Whereas this implies it may get away in any path, there’s a excessive probability it might get away to the upside now that the broader market is popping bullish once more. In such a state of affairs, ATOM might simply take a look at costs above $40 within the quick time period.
ATOM is buying and selling sideways whereas the broader market is gaining upside momentum. Nevertheless, with excessive staking rewards, and probably the greatest applied sciences in crypto, ATOM is a reasonably good purchase at present costs.