Cosmos (ATOM) Stays Afloat Since the Bear Market Mayhem: Here’s Why

Cosmos started to gain crypto community attention again. The native ATOM has surged higher on the price chart since the previous week.

Moreover, the alternative token revives from its dip within the past day to depict upside pressure. Data from Coinmarketcap shows ATOM traded at $16.21 during this publication, following a 2.75% 24hr surge. Furthermore, ATOM gained more than 28% over the last seven days.

Analytic firm Messari commented on the altcoin amid uptrends since the cycle low. It highlighted that most digital coins explore lows during bear markets.

It added that 120 tokens enjoyed ‘up only’ tendencies since the cycle lows. Cosmos is among the tokens that continued to confirm massive promises for crypto investors.

Feeling Cosmic

Things appeared lucrative on the Cosmos on-chain, with some metrics hitting their milestone. ATOM’s transaction volume touched the highest market since the Terra Luna crash, with a jump to 1.23B on September 10. The altcoin confirmed the dramatic activity surge within its price action.

Also, Cosmos developers have been busy lately as the development activity index shows a clockwork surge over the last months. Cosmos shared these updates on Medium recently.

Meanwhile, the Cosmos SDK introduced the updated 0.46 version, which incorporated upgrades on the existing Governance module and Groups module.

Another upgrade enables chains to form wallets on different chains and complete transfers on the native site. The blog revealed that the move ensures composability between apps, like how ‘smart’ contracts can interact on monolithic chains like ETH.

The Cosmos network sees a pressing concern despite the project’s meteoric rise. One issue is whether ATOM is surging independently or rising due to the latest Bitcoin-led crypto market revival. It remains essential to see Cosmos’ upcoming actions after ending a week to recall.

Meantime, the crypto market depicted bullishness during this publication. The global cryptocurrency market capitalization increased by 1.15% within the past day to $1.07 trillion.

Also, Bitcoin continued to lead the upside journey, surging 2.98% over the last 24 hours to trade at $22,410.83. Bulls seem dedicated to extending the optimistic trends.

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