$ATOM
Post
flyawei
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Damn, this $ATOM episode is way too hardcore.
Around 9/23, Neutron governance was breached, and roughly $9.4 million from the ecosystem side got pulled into the incident. Cosmos Hub validators simply paused the chain for nearly 25 hours—after the restart at 12:00 UTC, the very first block transferred 1.227 million ATOM (about $2.1 million) out of the attacker’s wallet. The official line is that the Hub itself wasn’t breached; the “dirty coins” came from Neutron.
Perpetual price is around 1.70, opening around 1.82, high about 1.86 and low about 1.67, with a 24h change of roughly -6.8%. Volume is about $26.8M, with nearly 160k trades. Open interest is about 11.72M ATOM (≈$19.88M), and the funding rate is about -0.0075%.
Over the week, it moved from about 1.52 to 1.70—about +12%.
My take: there’s definitely controversy around stopping the chain to save funds, but the validators’ coordinated speed this time was faster than the market expected—at least it didn’t let that slice of ATOM escape smoothly. Next, we’ll see whether Neutron can still recover the remaining ATOM, and whether $ATOM sentiment can stabilize.
Around 9/23, Neutron governance was breached, and roughly $9.4 million from the ecosystem side got pulled into the incident. Cosmos Hub validators simply paused the chain for nearly 25 hours—after the restart at 12:00 UTC, the very first block transferred 1.227 million ATOM (about $2.1 million) out of the attacker’s wallet. The official line is that the Hub itself wasn’t breached; the “dirty coins” came from Neutron.
Perpetual price is around 1.70, opening around 1.82, high about 1.86 and low about 1.67, with a 24h change of roughly -6.8%. Volume is about $26.8M, with nearly 160k trades. Open interest is about 11.72M ATOM (≈$19.88M), and the funding rate is about -0.0075%.
Over the week, it moved from about 1.52 to 1.70—about +12%.
My take: there’s definitely controversy around stopping the chain to save funds, but the validators’ coordinated speed this time was faster than the market expected—at least it didn’t let that slice of ATOM escape smoothly. Next, we’ll see whether Neutron can still recover the remaining ATOM, and whether $ATOM sentiment can stabilize.
