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Cryptocurrencies are pumping, however ATOM is lagging.
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ATOM’s fundamentals stay robust, and its staking rewards are above common.
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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 somewhat little bit of its worth within the final 7-days. At this level, it is just pure to surprise, is ATOM price HODLING.
Cosmos occurs to be one of the crucial misunderstood cryptocurrencies right now. This has lots to do with its tokenomics. Not like Bitcoin, Cosmos is an inflationary cryptocurrency. This provides plenty of traders jitters about investing in it.
Nonetheless, one factor that’s usually forgotten is that the true deal when holding Cosmos is staking. Cosmos occurs to have a few of the highest staking rewards of the most important cryptocurrencies. As an example, for the time being, some exchanges are providing an APY of as much as 30% for anybody staking ATOM for 120-days. This could 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.
Moreover, Cosmos occurs to be one of many essentially strongest cryptocurrencies. Due to its IBC expertise that’s making it simple 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
Supply: TradingView
ATOM is at present buying and selling in a symmetrical triangle sample. Whereas this implies it could actually get away in any course, there’s a excessive probability it may get away to the upside now that the broader market is popping bullish once more. In such a state of affairs, ATOM may simply take a look at costs above $40 within the quick time period.
Abstract
ATOM is buying and selling sideways whereas the broader market is gaining upside momentum. Nonetheless, with excessive staking rewards, and the most effective applied sciences in crypto, ATOM is a reasonably good purchase at present costs.