Cosmos Surpasses 100 Chains as ATOM Battles Support at $4.56
Cosmos’ native token ATOM declined 4.5% over the past 24 hours, slipping from $4.88 to $4.66 as sellers regained control despite multiple recovery attempts. The drop comes amid heightened market volatility and a major ecosystem milestone.
Technical Overview:
- ATOM faced stiff resistance at $4.95 before sliding to support near $4.56 overnight.
- The trading range extended across $0.37, reflecting 7.58% intraday volatility.
- A recovery move around 05:00 UTC briefly lifted prices to $4.77.
- A sharp selloff at 10:51 UTC saw a 1.87% drop in one minute, bottoming out at $4.63.
- Trading volume peaked at nearly 1.89 million units, signaling active market participation.
Ecosystem Developments:
The Cosmos ecosystem crossed the 100-chain threshold this week, according to data from MapOfZones. This expansion includes ongoing XRP integration via Cosmos SDK and the IBC protocol — reinforcing Cosmos’ vision of a connected blockchain network.
Meanwhile, ShadeX — the first encrypted money market on Cosmos — officially launched. Built using CosmosSDK and CosmWasm, ShadeX is designed to deliver institutional-grade privacy to decentralized finance users.
Despite recent price weakness, the network’s growing utility and infrastructure could support future upside for ATOM once broader market conditions stabilize.
