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Ethereum

Coin Bureau Host Says Cosmos (ATOM) Could Ignite 100% Rally With Ethereum (ETH) Providing Lift – Here’s How

The host of well-liked YouTube channel Coin Bureau says that Ethereum (ETH) might assist pull up the price of Cosmos (ATOM) with its extremely anticipated improve. 

In a brand new video replace, the pseudonymous analyst often called Guy tells his 2.1 million subscribers that demand for ATOM has slumped dramatically through the bear market and presently depends on two most important drivers.

“What’s even scarier although is that there isn’t a lot taking place on the demand aspect of ATOM’s financial equation. As heartening as it’s that the entities behind the venture have apparently stopped promoting, it additionally implies that growth of demand drivers has slowed…

“It seems that ATOM’s strongest demand driver lately is all the continuing airdrops for up-and-coming Cosmos tasks, together with Jae Kwon’s GNO Land, that are solely given to those that maintain or stake ATOM in collaborating wallets corresponding to Keplr pockets. 

A secondary demand driver for ATOM is as a bridge forex to all of the up-and-coming Cosmos ecosystems on extra common use case blockchains corresponding to Evmos and Kava, which assist Ethereum good contracts and have seen a whole lot of tens of millions of {dollars} in complete worth locked.”

The analyst says that ATOM nonetheless has the potential to thrive if its present pattern continues, and if Ethereum’s long-awaited transition to proof-of-stake consensus mechanism goes easily.

“Now, although ATOM seems to have restricted demand drivers, they’ve been sufficient to push its price increased over the previous few months and if this pattern continues, we may see ATOM pull near a 2x within the quick to medium time period.

This actually relies on whether or not Ethereum’s upcoming transition to proof of stake later this month manages to trigger a broader crypto market rally.”

Cosmos is altering arms for $12.74 at time of writing, a 1.4% dip on the day.

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Featured Image: Shutterstock/Moon Light PhotoStudio/monkographic

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