ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions
The post ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions appeared on BitcoinEthereumNews.com. The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38. The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount. This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem. Meanwhile, Figure’s Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink’s vision that “every asset can be tokenized.” Technical Analysis: ATOM’s Recovery Pattern ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st. The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research’s technical analysis data. Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases. The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs. ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38. The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery. Recent price movement has established a…
The post ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions appeared on BitcoinEthereumNews.com.
The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38. The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount. This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem. Meanwhile, Figure’s Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink’s vision that “every asset can be tokenized.” Technical Analysis: ATOM’s Recovery Pattern ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st. The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research’s technical analysis data. Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases. The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs. ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38. The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery. Recent price movement has established a…
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