Cosmos (ATOM) Price Analysis: Is Cosmos’ Recent Growth Credited to Binance Listing Only?

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Cosmos (ATOM) is a crypto coin relied upon blockchain technology. It is a decentralized ecosystem of independent and parallel blockchains. The transactions of the Cosmos Ecosystem are completely scalable and it offers 100% anonymity to its all the users. Cosmos (ATOM) is known as 3rd generation crypto coin and supports smart contracts and decentralized apps (dApps). Recently Cosmos coin has been listed by the Kraken Exchange as a Proof of Stake coin. It has been given 5 pairs to be traded in the exchange.

Current Statistics-

Cosmos

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  • Cosmos (ATOM) is ranked at 15th position in the global crypto world.
  • The ROI (Return on Investment) stands at negative 31.89%.
  • A total of 190,688,439 ATOM coins are in circulation.
  • The current market cap as on 2nd May 2019 at 02:24 UTC is 833,940,449 USD.
  • The value of each coin stands at 4.37 USD and 0.00080929 BTC.
  • The 24h volume at the same UTC stands at 92,630,916 USD.

Comparison-

Cosmos coin started its journey with a higher note of 6.5 USD. It started growing just after its inception. It grew to 7.25 USD in just one day. However, the momentum was lost soon. It was pushed to 3.41 USD in a week’s time. The coin has been very new to the market and yet to adopt a growth line as of now. The newness of this coin has made the coin to show man instances of inconsistencies over this period. The value of each coin was 6.43 USD and 0.00163901 BTC on 15th March. The current value of each coin has decreased by 32.03 % in this period. The coin issued ICO recently on May 1st.

Cosmos coin has been cautiously watched due to its trading pattern over 1 day. The coin has seen as many as 12 ups and downs in a day. This pattern can be attributed to the ICO. The range of yesterday for Cosmos was 4.07 USD to 4.60 USD.

Prediction-

As mentioned earlier, the coin is unstable in the market due to its newness. However, there is a big role of speculators now at play for Cosmos. As per our prediction, the coin will further grow to its previous 6 USD level by the end of this month. The resistance should be at 6 USD only. By the end of 2019, the value should go past 10 USD. The 2020 prediction is absolutely bullish. There is a huge potential of this coin, and many more corporate tie-ups and exchange listing will be there to push the price. Holding this to longer period will be profitable.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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