$ATOM is sitting at $1.56, its 24h high, up 11.15% this week, right after cosmos labs told EVM chains to halt over security fears.
the kiichain exploit drained 148m KII and cosmos labs pushed emergency shutdowns across multiple EVM chains tied to the ecosystem. that's the security model itself getting questioned in public.
same week cosmostation, one of the non-custodial wallets people actually use for ATOM, announced it's shutting down september 1st. add in reports that cosmos is moving core contributors and projects over to ethereum's L2s, and the growth story looks thinner than the price action.
$ATOM trades at $1.56 right now, right at the 24h high. if it can't clear that $1.56 with real volume in the next day or two, i think this fades back toward the $1.47 low fast as the exploit and wallet news catch up to the price. if it breaks clean above $1.56 and holds while all this is still playing out, i'm wrong, the market's saying the exodus story doesn't matter and i'm fighting the tape for nothing.
holding $1.56 or fading to $1.47, which one are you betting on?
follow me for more calls like this.
the kiichain exploit drained 148m KII and cosmos labs pushed emergency shutdowns across multiple EVM chains tied to the ecosystem. that's the security model itself getting questioned in public.
same week cosmostation, one of the non-custodial wallets people actually use for ATOM, announced it's shutting down september 1st. add in reports that cosmos is moving core contributors and projects over to ethereum's L2s, and the growth story looks thinner than the price action.
$ATOM trades at $1.56 right now, right at the 24h high. if it can't clear that $1.56 with real volume in the next day or two, i think this fades back toward the $1.47 low fast as the exploit and wallet news catch up to the price. if it breaks clean above $1.56 and holds while all this is still playing out, i'm wrong, the market's saying the exodus story doesn't matter and i'm fighting the tape for nothing.
holding $1.56 or fading to $1.47, which one are you betting on?
follow me for more calls like this.
