As we welcome the new year, Cosmos (ATOM) is among one of the few cryptocurrencies that are trading in the green. Here’s why it may be worth keeping an eye on next year when looking at Cosmos (ATOM)/USD which is currently trading at $38.87, up nearly 40% from when this article was written.
The internet of blockchains has been thriving the past few years and has been focusing on developing a system that would allow different blockchains to work together. It’s likely to have a strong presence this year as it continues facilitating interoperability. With the increasing popularity of cryptocurrency, it is imperative that there are integrations between networks to ensure scalability and support the long-term growth of this industry.
Cosmos ATOM is busy pushing out updates, with their next major network upgrade coming 4 times this year. That’ll be every quarter of the year.
One of the most exciting developments that will propel investor interest in the Cosmos ATOM token is how it links different chains together to create a secure ecosystem. The security-sharing service will give clients on some of the smaller blockchains a chance to borrow an equivalent amount from people on other blockchains. This method will allow validators and delegates from larger chains to get paid higher rewards each day, while delegators on the smaller chains get to participate in a looser sense.
Blockchains in this ecosystem could soon control their accounts on other networks, making the Cosmos Hub a safer and more appealing space to conduct DeFi. That means account-holders can have access to an entire ecosystem of blockchains without needing to initiate any cross-chain transactions. With the IBC protocol, tokens are able to move between different blockchain networks even though they are still on one platform. But with Interchain Accounts, DeFi is boosted because it will allow you to move assets between each network.
We are also upgrading our Liquid Staking to let Cosmos ATOM holders turn their bonds into transferrable tokens over the next few months. We hope the Cosmos ecosystem will also make it an attractive space for DeFi developers. This way, token holders can generate more value from Atom, while earning rewards for staking
Cosmos ATOM/USD Technical Analysis
A well-known crypto analyst predicts that Cosmos ATOM will go up to $100+ in the next few years — so buy now while it’s cheap!
The ATOM/USD on the 4-hour chart shows a strong bullish bias. The MACD and momentum indicators are positive too. With Cosmos trading above the pivot point at $32.59, it will be interesting to see how things play out in the near future
It seems like buyers are getting ready to test $40.03 support soon. A break past this can see ATOM surge higher and until it faces the first resistance at $44.53