Cosmos Price Up by 15.36% – Time to Buy ATOM Coin?

• Cosmos is up by 15.36%  and is moving against the bear market, encouraging investors to buy ATOM
• Cosmos preparing for an interstellar year with new developments already in the pipeline
• Crypto market down by 3.58% with a market cap of $1.98 trillion

Cosmos, the internet of blockchains platform is making an upward trend in price and moving against the general bear market, providing investors with an opportunity to buy ATOM. Only 24 hours ago, ATOM was within the price range of $38 to $40 and looked to be making price corrections alongside the broader crypto market.

The uptrend in the Cosmos native token price is an unexpected turn of events as the global crypto market is down by 3.58% with a market cap of $1.98 trillion in the last 24 hours.

Cosmos is a proof-of-stake (PoS) blockchain of interconnected apps and services, geared at scaling and enabling the interaction of protocols in a decentralised manner.

Since the launch of the Cosmos network, the utility token, ATOM has made significant improvements in price and has already made a 30.89% increase to kickstart the year. The Cosmos blockchain has made considerable improvements in its roadmap and efforts are underway to see the ATOM coin soar in the market in the coming weeks.

Interchain Security

Part of the improvements slated for the year for Cosmos is the development of Interchain Security. This sharded security service will allow Cosmos chains to seamlessly provide security to each other so that new chains can bootstrap their economies, validators and delegators on larger chains to earn rewards for the service.

The Interchain Security will allow validators and delegators to earn rewards on multiple chains in multiple tokens just by staking ATOM on the Hub. While new chains will benefit from a robust validator security fit, Cosmos Hub stakers will get early access to innovative projects and increase the utility of ATOM.

Liquidity Staking

In February 2022, the first version of Liquid staking on the Cosmos Hub will be available. The project is headed by Cosmos contributor and Iqlusion founder, Zaki Manian and will be directly integrated into the Cosmos SDK. The first version of the Liquid staking will allow ATOM holders to send transactions that immediately convert their bonded ATOM into transferrable versions that can be used in liquidity pools and other activities.

This new development opens up a world of possibilities for DeFi and will enable ATOM holders to maximise their assets while still earning staking rewards. Liquid staking will demand smart contracts, so in due time, the Cosmos Hub will add CosWasm, which will allow the blockchain to connect to any chain and manage their staking procedures through the IBC communications.

Emeris launch on the Cosmos Hub

As IBC connections increase on the Cosmos Hub, the ability to manage complex transactions across various blockchains, bridge to major ecosystems to unlock liquidity will cause the Cosmos DeFi to reach peaks.

The Emeris launch in the Spring of 2022 will usher in many anticipated features such as advanced capabilities for portfolios, digital asset management and service discovery. The launch will also bring about auto-compounding of rewards to maximise yields.

Cosmos Technical Analysis

ATOM is gaining momentum to attain higher resistance, and support prices as the asset is currently trading above the 23.6% Fibonacci retracement value of $36.76. Investors who entered the market when ATOM fell below the 61.8% Fibonacci retracement price of $23.24 are believed to have accrued up to 112% profits.

The Cosmos utility token is currently trading above the 100-hourly Simple Moving Average (SMA) value of $31.72, and the 50-day Moving Average Exponential (EMA) value of $30.68 indicates that ATOM is on a strong bullish movement, as the digital asset trades above this indicator. Cosmos shows great potential to upscale in price, motivating investors to buy ATOM.

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