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Cosmos garnered quite a lot of buyers’ consideration after it launched its “Cosmos Hub Roadmap 2.0.” Along with that, its native token ATOM confirmed a constructive change by way of its whole worth locked (TVL), developer exercise, and the overall variety of holders in Q3 of 2022.
Nicely, regardless of all of those constructive elements, ATOM’s value was on a decline. Thus, implying a chance of a not-so-prosperous This autumn.
Right here’s AMBCrypto’s Worth Prediction for Atom for 2022-2023
Trying on the numbers
As per a latest tweet printed by the Cosmos Daily, one of the main areas of development for the Cosmos ecosystem has been the DeFi sector.
Protocols such because the Kava Network, amassed a TVL of 291.2 million. As will be seen from the picture under, the Kava Community grew tremendously over the previous month.
Different protocols corresponding to Osmosis zone and THORChain amassed $209M and $105.85M, respectively.
Supply: DefiLama
Talking of on-chain metrics, the variety of crypto buyers holding ATOM grew persistently all through the whole 12 months. Nonetheless, the variety of transactions and quantity didn’t witness an excessive amount of development.
Supply: Cosmos Day by day
On the damaging facet, ATOM’s quantity depreciated persistently all through the previous month.
It decreased by 80.03% in a month. Surprisingly, the market cap additionally took a success. It depreciated by 01.5%. Notably, on the time of press, ATOM captured 0.38% of the general market.
There was additionally a decline in improvement exercise over the previous month. This might be thought-about as a bearish sign by potential buyers.
Supply: Santiment
Following all of the above-mentioned developments, on the time of writing, ATOM was buying and selling at $12.95. Its value depreciated by 12.71% over the past two weeks.
Notably, ATOM’s value after testing the $13.34 resistance stage started to point out indicators of a decline. The RSI was at 49.07 indicating that the momentum of the worth was barely skewed towards the sellers.
Though $ATOM’s short-term future appears bearish, readers ought to look into Cosmos’ collaborations and updates to stay updated with the present state of affairs.
