{"id":1856,"date":"2022-01-21T06:56:59","date_gmt":"2022-01-21T06:56:59","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=1856"},"modified":"2022-01-21T06:56:59","modified_gmt":"2022-01-21T06:56:59","slug":"what-drives-cosmos-atom-near-new-highs","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/what-drives-cosmos-atom-near-new-highs\/","title":{"rendered":"What Drives Cosmos (ATOM) Near New Highs"},"content":{"rendered":"\n

Cosmos (ATOM) rode on the overall market recovery late on Thursday, but became one of the biggest gainers for the day. ATOM repeated its positive performance<\/a>, keeping some of the gains even as the market turned downward again, sinking Bitcoin (BTC)<\/a> toward $38,000.<\/p>\n\n\n\n

Altcoin prices also showed more bullish attitudes, while Ethereum (ETH) diminished its dominance further to around 19%. After a correction that erased around 60% from last year\u2019s highs, some altcoins are renewing their specific trajectories based on unique growth factors.<\/p>\n\n\n\n

ATOM traded on a temporary peak at $41.85, close to its all-time peaks around $43.61 logged in the past few weeks. ATOM is rising on a series of partnerships and news of network growth, as well as perceptions the asset can move to a higher valuation based on attracting startups to its blockchain.\u00a0Later on Friday, the asset retreated to $38.10.<\/p>\n\n\n\n

ATOM Offered as ETP Investment <\/strong><\/h3>\n\n\n\n

One of the immediate reasons for growing interest in ATOM is the announcement of a new investment product for physical investment in ATOM. Built by 21 Shares, the product will take up additional ATOM and remove the coins from the market. The investment opportunity also mentioned the metaverse capabilities of the Cosmos network. The announcement arrives at a time when blockchain-powered metaverse projects are promising to build new applications and games.<\/p>\n\n\n\n

\n

Today, @21Shares<\/a> celebrates a new addition to its growing product suite with an ETP on Cosmos (ATOM), a decentralized ecosystem of blockchains that can scale and interoperate with each other \u269b\ufe0f
\ud83d\udc49 ISIN: CH1145930991
Find out more here: https:\/\/t.co\/QG9yVo83nG<\/a> pic.twitter.com\/m8wu2VmJd6<\/a><\/p>— 21Shares (@21Shares) January 20, 2022<\/a><\/blockquote>