[REPOST] - ATOM/USDT - Crypto Academy | S6T4 | Team Trading Contest Post for Reminane.

in hive-108451 •  3 years ago 

Dear @steemcurator02 here is the link of my Expire Post.

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Greeting Steemians! This is my 3rd trading post of the week. I've looked into the Cosmos (ATOM) coin and will be doing spot trading on it and hold this coin for a long term. As I tell you guys in my previous posts that for this week I am a part of team Reminane.

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The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc.

Cosmos is a decentralised network of independent parallel blockchains in its purest form. The goal of Cosmos is to allow any blockchain to communicate, share data, and transact with any other blockchain. There is less of a need for these networks to compete viciously to be the one blockchain that rules them all by allowing many alternative blockchains to interoperate. Instead, a number of blockchains can coexist, each with its own set of applications and advantages.

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Source

Cosmos is a comprehensive technology stack that does more than just link and share data between blockchains. They've also expedited the development process, allowing developers to design their own bespoke blockchain in months, if not weeks, rather than years.

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Source

Cosmos is the initiative that most closely resembles Polkadot, which also intends to create an ecosystem of interoperable blockchain networks. Unlike Polkadot, Cosmos prioritises the sovereignty of independent blockchains, which means they must defend themselves, have their own government, and manage their own validators.

The Cosmos platform's native crypto tokens are known as ATOMs tokens. Staking and validating blocks, voting on governance issues, and paying transaction fees are all possible using ATOMs.

When the Cosmos mainnet debuted, the first ATOM tokens were issued and handed to early donors, token sale participants, the Cosmos Foundation, and core developers. As a reward for network validators, new ATOMs are generated.

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Foundar of Cosmos

Cosmos was developed and launched with the assistance of the Interchain Foundation, a Swiss non-profit that funds open-source blockchain initiatives. Jae Kwon and Ethan Buchman, co-founders of the Cosmos network, created Tendermint, the consensus algorithm that would later run Cosmos, in 2014.

Later, Jae Kwon and Buchman wrote the Cosmos white paper, and the programme was released in 2019. In the year 2017, the Interchain Foundation staged a two-week ATOM token initial coin offering (ICO), collect over $17 million dollors . Tendermint also raised $9 million in a Series A investment round in 2019 to continue development of the product.

  • EXCHANGES

Cosmos (ATOM) is traded on bitMax, Binance, Coinbase, Bittrex, Binance Us, Crypto.com, poloniex, FTX, AsendEx, Uniswap, Huobi Global, FTX US, Kucoin, Gate.io, MEXC, Shushi swap, OkEX, Wazirx, bybit, bitfinex, Kraken, bitFlyer and many other major cryptocurrency exchanges.

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The screenshots above show the some top cryptocurrency major exchanges that list the Cosmos (ATOM) cryptocurrency.

  • Coinmarketcap Details

According to Coinmarketcap website the Cosmos current Price is $29.00 dollors. Its Price Change of 24h is -$1.24 dollors. Its 24h Low / 24h High is $28.63 / $31.25 dollors. Its Trading Volume of last 24h is $1,022,689,158.42 dollors. Its Market Dominance is 0.40 percent and a Market Rank is 22 in the crypto world according to coinmarketcap.

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Its All Time High is $44.70 dollors that it touch 6 months ago. Its All Time Low is 1.13 dollors that it touch 2 years ago.The Cosmos Return on investment is 350.89 percent. Its Circulating Supply is 286,370,297 ATOM. Its Total Supply has No Data and Max Supply has also No Data.

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Why are you optimistic about this token today, and how long do you think it can rise?

The first reason for my optimism is that this coin is one among the world's top 50 crypto coins by market capitalization, which is a huge accomplishment.

Another important quality of this coin is that it has a market capitalization of over $8 billion, which is a substantial sum, and it has over 404 thousand Twitter followers, which is outstanding.

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Furthermore, the Cosmos team is incredibly dedicated to the project and works on it at all hours of the day and night. I believe it has a bright future ahead of it. So, these are some of the reasons for my optimistic view on this coin.

And then there's the question of how long it can rise. My prediction is that by the end of 2022, it will have surpassed 100 dollors. But, don't take it as a financial guidance.

How to analyze the token? (using the analysis knowledge learned from professors’ courses) - the most important part and Do you intend to keep it for a long time or when to sell it?

In my today technical analysis, I will use two indicators. The name of the first indicator is TEMA (Tripple Exponential Moving average), which i learn from professor fredquantum and the second indicator name is RSI (Relative Strenght Index). I also draw support and resistance level for better understanding.

To begin, I'll explain TEMA. Traders use a combination of the two TEMA indicators to buy and sell digital assets in cryptocurrency and other financial markets. We notice a bullish trend in the market if the smaller lenght TEMA crosses the bigger TEMA and travels above it, and we see a bearish trend in the market if the larger lenght TEMA crosses the smaller lenght TEMA and travels below it.

The second indicator is RSI that tells us bullish and bearish market trend according to its value. If its value move from 30 to 70 then it is a bullish signal form RSI and if its value move from 70 to 30 then it is a bearish signal form RSI indicator.

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As can be seen in the chart above, the smaller TEMA with a length of 9 crosses over the larger TEMA with a length of 25 and rises. As a result, it is a bullish signal. Following that, I notice the RSI going from 30 to 70, which is also a positive indication. Based on the findings of both indicators. So, I take my entry into Cosmos at the price of 29 dollors.

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The proof of my transaction may be seen in the images above.

As I previously stated, ATOM is an excellent project, and I intend to keep it for a long time. My pricing aim is 100 dollors, and my time target is the middle of 2023.

Do you recommend everyone to buy? and the reasons for recommending/not recommending.

I recommend this coin to everyone since Cosmos (ATOM) is a very popular crypto coin among cryptocurrency traders, with a rating of 22. We also know that the cryptocurrency market is highly volatile, making it impossible for a crypto trader to make accurate predictions. However, based to a fundamental study, I believe ATOM coin is a good long-term project with lot of usecases. However, before investing, conduct your own research on this currency all opinions expressed are my own.

Anything other users want to share about the token/project.

Cosmos is a fantastic idea, a project that has the potential to open up the blockchain ecosystem to a whole new set of uses. Many developers in the crypto sector are currently focusing 100 percent on the idea of building information and communication motorways across different blockchain initiatives.

Cosmos takes advantage of the scalability of blockchain apps to scale them to millions of users via vertical and horizontal scaling strategies.Cosmos presents a convincing case for addressing the problem of blockchain interoperability.

Its long-term success is largely contingent on the long-term performance of Cosmos technology and the adaptability of its approach in response to competitors' moves.

Some photos in this post are create and edit by me on Canva and Picsart applications. Remaining all Unsourced Screenshots taken from Tradingview and Coinmarketcap website and the grammer check from grammarly.

SUBMITTED TO DEAR PROFESSOR:
@reminiscence01 & @nane15

SUBMITTED BY :
@malikusman1

THE END 😇

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