1200″ height=”900″ alt=”This is how Cosmos Hub’s integration of Bitcoin can impact the blockchain ” decoding=”async” fetchpriority=”high” data-old-src=”data:image/svg+xml,%3Csvg%20xmlns=’http://www.w3.org/2000/svg’%20viewBox=’0%200%201200%20900’%3E%3C/svg%3E” srcset=”https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1.png 1200w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-300×225.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-1024×768.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-768×576.png 768w” src=”https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1.png”/> < img width="1200" height="900" alt="This is how Cosmos Hub's combination of Bitcoin can affect the blockchain" decoding="async" fetchpriority="high" data-old-src="information: image/svg + xml,%3Csvg%20xmlns =' http://www.w3.org/2000/svg'%20viewBox='0%200%201200%20900'%3E%3C/svg%3E" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1.png 1200w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-300x225.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-1024x768.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1-768x576.png 768w" src="https://statics.ambcrypto.com/wp-content/uploads/2023/11/ambcrypto_A_cosmic_merger_of_the_Cosmos_Hub_and_Bitcoin_symbols_b8ae3d1a-f127-4a12-8373-db023e0282b5-1.png"/ >
Reporter
- Universe’network activity has actually been on the increase for a month.
- ATOM was up by over 7%recently, however indications were bearish.
Universe Hub [ATOM] has actually made a statement that has the possible to improve the blockchain’s network activity. The most current information exposed that the blockchain’s network activity and adoption have actually currently been on the increase for the last 30 days.
Check out Cosmos Hub’s [ATOM] Cost Prediction 2023-24
Universe to witness additional network development?
Universe on 1 November revealed its combination with Bitcoin [BTC]According to the main tweet, the bridge would permit users to bring their BTC into Cosmos utilizing nBTC, an IBC-compatible token. This gets rid of the requirement to transform their BTC into a various crypto.
Invite Bitcoin to the #interchain
IBC Bitcoin is here ⚛ @nomicbtc finished the interchain upgrade, allowing nBTC to be transferable through #IBC
With the Nomic non-custodial Bitcoin bridge completely operating– the IBCification of the blockchain market continues! pic.twitter.com/TH24OqjNrs
— Cosmos– Internet of Blockchains ⚛ (@cosmos) November 1, 2023
This advancement may reveal its favorable influence on the blockchain’s network activity, which has actually currently gotten up momentum for a long time.
According to Artemis, Cosmos Hub’s everyday active addresses have actually increased substantially over the last 30 days.
Thanks to that, ATOM’s day-to-day deals likewise increased last month, plainly showing a walking in its adoption and use.
Apart from that, the blockchain’s DEX volume likewise stayed high, showing its appeal. Furthermore, ATOM’s efficiency in the DeFi area stood out, which appeared from the enormous increase in its TVL in current days.
Source: Artemis
ATOM’s state looks satisfying
In the middle of this, ATOM’s rate stayed under bulls’ impact, thanks to the marketplace condition.
According to CoinMarketCap, ATOM was up by more than 7% over the last 7 days. At the time of composing, it was trading at $7.86 with a market capitalization of over $2.9 billion.
The bad news was that while the token’s rate rose, its trading volume dropped. To be exact, ATOM’s volume decreased by over 20% in the last 24 hours.
This showed a drop in financier interest in trading the token. Another bullish indication that dropped in current days was ATOM’s Altrank.
It should be kept in mind that Cosmos Hub’s social discusses and bullish belief both increased over the last week, which were both positive signals.
Source: LunarCrush
Just how much are 1,10,100 ATOMs worth today
An appearance at ATOM’s rate chart revealed the following.
ATOM’s Relative Strength Index (RSI) got in the overbought zone, which recommended a rate drop in the days to follow. Chaikin Money Flow (CMF) likewise took a sideways course.