Cryptocurrency Cosmos Hub Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cosmos Hub's cryptocurrency, ATOM, has seen a price drop of 5.87% in the last 24 hours, falling to $9.34 despite an 11% gain over the past week. The trading volume has increased by 30%, and the circulating supply has risen by 0.42%, bringing it to 292.59 million. ATOM's market cap is currently ranked #29 at $2.73 billion.
November 14, 2023 | 3:00 pm
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NEGATIVE IMPACT
ATOMUSD experienced a 5.87% price decrease over the last 24 hours, despite a recent upward trend over the past week. The increase in trading volume and circulating supply may indicate heightened investor activity.
The short-term impact on ATOMUSD is negative due to the significant price drop of 5.87% within the last 24 hours. However, the increased trading volume and a slight increase in circulating supply could be signs of growing investor interest, which might cushion the fall or potentially reverse the downtrend if the broader market sentiment improves. The recent positive trend over the past week could also support recovery.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100