Cosmos and ATOM token: Let us dig deeper
Cosmos is a leading blockchain platform whose goal is to improve the interoperability of the industry. It helps to ensure that cryptocurrencies based on multiple blockchains can communicate with one another. As a result, it eliminates the silos that exist in the network.
Cosmos uses a technology known as Inter-Blockchain Communication (IBC) protocol to achieve that. According to its website, CosmosHub has been adopted by about 263 applications that have a combined market cap of over $170 billion. They include OKX, BNB, and Cronos.
It also has a feature known as Cosmos SDK that helps developers build decentralized applications (dApps) that are interoperable. Cosmos has been used to create popular platforms like ThorChain, Terra, and Osmosis.
Cosmos has a market capitalization of $8.3 billion. According to CoinGecko, the circulating supply of ATOM is about 292 million.
Cosmos (ATOM) price history and technical analysis
Cosmos has been around since 2014. It was created by Jae Kwon and Ethan Buchman. While it enjoyed some success a few years ago, its price peaked at around $45.33 in the fourth quarter of 2021. At the time, the coin had a market cap of over $10 billion.
The four-hour chart shows that the Cosmos price has been moving sideways in the past few months. The price is about 33% below its all-time high and about 47% above the lowest level in 2022. It seems to be forming an ascending triangle pattern. At the same time, the coin is oscillating around the 25-day and 50-day moving averages.
The Average True Range (ATR) has declined to the lowest level since August last year, signaling that it has modest volatility. Therefore, because of the ascending triangle pattern that is forming, there is a likelihood that the coin will have a bullish breakout later this year. If this happens, the initial reference level will be at $44.7.
Cosmos (ATOM) price prediction for a year
Cosmos, like most altcoins, tend to move in the same direction as Bitcoin. For example, Cosmos rose to its all-time high in November 2021 at a time when Bitcoin was also nearing its $70,000 mark. Therefore, there is a likelihood that the coin will react to similar triggers like BTC. Some of the important things that will move Cosmos are regulations and the Federal Reserve.
There is a likelihood that the ecosystem expansion will lead to more upside for ATOM price. As shown in the daily chart, the coin has formed an ascending triangle pattern, signaling that it will have a bullish breakout in 2022.
According to LongForecast, Cosmos will rise to a high of $37.21, which is about 23% above the current level. Another estimate by Digital Coin Price has a similar view about Cosmos since it estimates that it will average about $39 in 2022. Further studies by Gov Capital estimate that Cosmos will have a bullish breakout and end the year above $60.
Cosmos (ATOM) price prediction for 2025
The Cosmos ecosystem is growing, helped by popular platforms like Terra and ThorChain. Terra, in its part, has its growing ecosystem of apps like Anchor Protocol and Lido. Therefore, this performance will likely lead to a better performance of ATOM. Therefore, by using the weekly chart and adding the Schiff pitchfork tool, we can estimate that the price will be significantly higher than $100.
On the other hand, according to Long Forecast, Cosmos will end 2025 at about $75, while Digital Coin Price estimates that the coin will end the year at about $100.
Cosmos (ATOM) in questions and answers
Is Cosmos coin real?
Yes. Cosmos is a real cryptocurrency that is widely used. ATOM has a market cap of over $8.7 billion.
Will Cosmos reach $100?
Yes. There is a possibility that ATOM will rise to $100. To do that, it needs to rise by about 205%, which is achievable.
Should I buy Cosmos Coin?
There are thousands of cryptocurrencies today. Cosmos seems like a good investment because of what the developers are aiming to achieve. The performance of its top ecosystems like Terra and ThorChain has also been strong. Therefore, Cosmos seems like a good cryptocurrency to buy.
How much will be Cosmos (ATOM) be in five years?
The Cosmos ecosystem is expected to keep growing in the next few years. As a result, this will lead to a higher ATOM price. If this happens, a conservative estimate is that it will rise to about $100.
Where do I buy Cosmos?
Cosmos is one of the most popular cryptocurrencies today. Therefore, you can easily buy it on one of the most popular exchanges like Coinbase, Binance, and Kraken. These are the simplest methods to do that. A more complex one is to use a decentralized exchange like Uniswap and Anchor Protocol.
This article represents the views of the author. Cryptocurrencies are highly speculative assets, and the author will not be held liable for any losses.
