- Institutional outflows from Cosmos Hub hit higher levels despite retail business interest.
- Traders continued to prefer long positions even as the selloff left short selling.
Cosmos (atom)Those whose goals are focused on an interconnected blockchain economy were among the assets that saw massive institutional outflows last week.
According CoinShares Weekly Fundflow Report, the output of Cosmos in this regard was approximately 1.6 million dollars. This made it the third highest starting draft. Bitcoin (BTC) AND Ethereum (ETH).
Reading Cosmos (ATOM) Price Prediction 2023-2024
The exit does not depress traders
Despite the growth, ATOM gained 9.34% in the last seven days. The price increase also helped traders maintain a positive stance towards the cryptocurrency. At press time, Binance financing rate It resisted the red zone and stayed at 0.01%.
The metric describes the periodic payments received by long or short traders based on the difference between open contracts and spot prices. Therefore, a position of 0.01% means that ATOM traders earn a higher interest rate per search interval.
In Open Interest (OI), CoinGlass data showed that many traders were actively participating in the ATOM pairs market. at the time of writing, RO futures market Major exchanges were in the green in the past one to four hours.
In addition, the main positions of the traders in the derivatives market were mostly long. However, the one-minute portion of the lot was undecided. This may not come as a surprise, especially considering that the ATOM price has been consolidating in the last 24 hours.
Source: Coinglass
but in terms of liquefactionThere have also been victims for a long time, this has been the case since February 16. The shorts had suffered significant losses on their open positions last time on February 15. During this time, the merchants suffered long liquidations worth $432,000. However, CoinGlass showed that the market removed only $39,780 in the last 24 hours.
Source: Coinglass
persevere despite challenges
Recently, the Interchain Foundation, the team that builds the Cosmos blockchain, reiterated its dedication to supporting its stack.
1/2023 is an exciting year for Interchain.
This is an opportunity to rebuild from the uncertainty of 2022.
Rebuild infrastructure, goals and trust.
Today, we share our funding overview for 2023, reinforcing our commitment to supporting the Interchain stack. pic.twitter.com/AH3hpHp2kl
– Interchain Foundation (@interchain_io) February 20, 2023
How much they cost Today it is worth 1,10,100 Atom?
The foundation noted that a market downturn in 2022 will not deter it from further adoption and will support real-world use cases. mentioned in the ad,
“Even during this challenging period for the blockchain space, we remain committed to supporting core technologies.”
In response to the guarantee, Cosmos’ development activity Rose in the last few days. The metric defines how committed a project is to keeping updates on its network.
Although there has been a recent decline, this cannot be considered a notable disadvantage to supporting Cosmos. Meanwhile, his total NFT volume hit a one-week high of $846,000 on Feb. 20, according to data from Sentiment.
Source: Feeling
