$ATOM is up 7.4% on the week and I don't trust it, because every headline under that bounce is about something leaving.
Cosmos Labs told EVM chains to halt after the KiiChain exploit, 148M KII gone, and TAC got hit too. That's the security story the coin's feed is still carrying.
Cosmostation, the non-custodial wallet, was set to cease operation on September 1st. The feed also says significant projects and core contributors are moving to Ethereum layer-2s. A chain that loses its wallet and its builders doesn't earn a premium.
$ATOM trades at $1.74 right now, sitting on the 24h high of $1.74 after a low of $1.61. If it can't hold above $1.74, I think it slides back to $1.61 and the bounce was just a bounce. If it breaks above $1.74 and stays there, I'm wrong on this and there's nothing to defend. If you're holding, that's your cue to ignore me.
Does $ATOM hold $1.74 or hand it back?
follow me for more calls like this.
Cosmos Labs told EVM chains to halt after the KiiChain exploit, 148M KII gone, and TAC got hit too. That's the security story the coin's feed is still carrying.
Cosmostation, the non-custodial wallet, was set to cease operation on September 1st. The feed also says significant projects and core contributors are moving to Ethereum layer-2s. A chain that loses its wallet and its builders doesn't earn a premium.
$ATOM trades at $1.74 right now, sitting on the 24h high of $1.74 after a low of $1.61. If it can't hold above $1.74, I think it slides back to $1.61 and the bounce was just a bounce. If it breaks above $1.74 and stays there, I'm wrong on this and there's nothing to defend. If you're holding, that's your cue to ignore me.
Does $ATOM hold $1.74 or hand it back?
follow me for more calls like this.