Simply minutes, the price of Cosmos (ATOM) surpassed $Eight for the primary time ever. As of this text’s writing, the price of the cryptocurrency is $8.25 — up over 30% up to now 24 hours alone.
Which means ATOM is outpacing all different cryptocurrencies within the prime 100. Bitcoin, as an illustration, has rallied a mere 0.25% up to now 24 hours because the cryptocurrency enters a consolidation sample.
BTC really consolidating is definitely what’s partially enabling this rally as altcoins thrive in intervals of low volatility.
Cosmos Breaks Previous $8
Simply minutes in the past as of this text’s writing, the price of the main altcoin Cosmos surmounted $Eight for the primary time ever. The asset reached $8.50 on the peak of the rally however has since retraced to the $8.25 area.
Chart of ATOM's price motion from TradingView.com
ATOM could also be restricted in its means to rally over time, although.
Kelvin Koh, a accomplice at The Spartan Group and a accomplice at Goldman Sachs, said that ATOM solely captures part of the worth of the Cosmos ecosystem, which is totally different than different cryptocurrencies:
$ATOM captures solely a part of the worth of the Cosmos ecosystem ie there are different hubs. $DOT represents the worth of the complete Polkadot ecosystem.
Picture by NASA on Unsplash Value tags: atomusd, atombtc Charts from TradingView.com Cosmos (ATOM) Simply Broke Previous $Eight For the First Time Ever