{"id":523405,"date":"2023-03-16T15:10:11","date_gmt":"2023-03-16T15:10:11","guid":{"rendered":"https:\/\/wncen.com\/?p=523405"},"modified":"2023-03-16T13:30:50","modified_gmt":"2023-03-16T13:30:50","slug":"cosmos-atom-holds-18-on-weekly-chart-while-major-coins-lost-profits","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cosmos-atom\/cosmos-atom-holds-18-on-weekly-chart-while-major-coins-lost-profits\/","title":{"rendered":"Cosmos (ATOM) Holds 18% On Weekly Chart While Major Coins Lost Profits"},"content":{"rendered":"
While top coins retraced a bearish trend and lost most of their weekly gains, Cosmos (ATOM) held on by <\/span>18.29%<\/span> last week. Besides ATOM\u2019s 1.0% price decline on March 12, it recorded successive rallies over the past seven days.\u00a0<\/span><\/p>\n The token <\/span>scored notable price<\/span><\/a> gains on March 10 and 11, then from March 13-15, bringing it to its current price of $12.59. But ATOM has recorded a 0.73% price loss in the last 24 hours.<\/span><\/p>\n Earlier this week, the crypto market saw a brief relief from a long-running bearish trend caused by fear and uncertainty among investors. Even while three top US banks faced turmoil, cryptocurrency prices soared with improved sentiment pushing the global market cap by nearly 9%.\u00a0<\/span><\/p>\n Related Reading: Bitcoin Price Set To Rally As Macro Backdrop Is Perfect, Here\u2019s Why<\/a><\/p>\n This was partly due to the reassurance from the US <\/span>Fed\u2019s interference<\/span><\/a> to calm the situation. The Federal Reserve <\/span>announced<\/span><\/a> a Bank Term Funding Program to assist troubled banks in settling aggrieved customers.\u00a0<\/span><\/p>\n Furthermore, the long-awaited <\/span>February CPI report<\/span><\/a> came out on March 14. The CPI data came out slightly lower than January CPI, similar to economists’ predictions. Hence many cryptocurrency prices, including ATOM, soared on March 14.\u00a0<\/span><\/p>\n However, there is still uncertainty in the market as investors anticipate the Federal Reserve meeting on March 21. It would determine the next basis point for an interest rate hike.<\/span><\/p>\n Besides market sentiment, ATOM’s 18% weekly gain is higher than most coins\u2019, as some have surrendered theirs to the bears. The latest version of Cosmos SDK could influence ATOM\u2019s price since it opens the ecosystem to high-performance applications. Cosmos touted its <\/span>new SDK v0.47<\/span><\/a> (Twilight) as the world\u2019s most used blockchain-building framework. According to its tweet, Twilight comes with a boost in SDK performance and functionality.<\/span><\/p>\nFactors Sustaining Cosmos (ATOM) Price Rallies<\/h2>\n
Economic Factors<\/h3>\n
Ecosystem Developments<\/h3>\n