One Cryptocurrency Sustaining Above the Support Levels- Cosmos (ATOM)

Cryptocurrency Report.

One Cryptocurrency Sustaining Above the Support Levels- Cosmos (ATOM)

28 March 2024

| Read Time :5:00 Mins

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Cosmos (ATOM) is a decentralized ecosystem of autonomous blockchains intended to build the next-generation Internet. Each blockchain in the Cosmos is powered by Tendermint consensus, which is also used by the network, and BFT consensus algorithms. ATOM has a market capitalization of ~USD 4.90 billion (as per TradingView as of March 28, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 375.05 points (~7.60%) to 4556.77 for the week ending March 22, 2024. In the current week starting March 25, 2024, the index is trading with positive momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bullish momentum for the current week.

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