Coin Bureau Host Says Cosmos (ATOM) Could Spark 100% Rally With Ethereum (ETH) Providing Lift – Here’s How

The host of popular YouTube channel Coin Bureau said that Ethereum (ETH) could help boost the price of Cosmos (ATOM) with its highly anticipated upgrade.

In a new video update, the pseudonymous analyst known as Guy tells his 2.1 million followers that demand for ATOM dropped significantly during the bear market and is currently driven by two main drivers.

“Even scarier is that not much is happening on the demand side of ATOM’s economic equation. As encouraging as it is that the entities behind the project have apparently stopped selling, it also means that the development of demand drivers has slowed…

“It seems that ATOM’s biggest demand driver these days is all the airdrops going on for promising Cosmos projects, including Jae Kwon’s GNO Land, which is only given to those who own or invest. ATOM in participating wallets such as the Keplr wallet.

A secondary demand engine for ATOM is a bridge currency to all emerging Cosmos ecosystems on more general use case blockchains such as Evmos and Kavawhich support Ethereum smart contracts and have seen hundreds of millions of dollars in total value locked up.

The analyst claims that ATOM still has the potential to thrive if its current trend continues and if Ethereum’s long-awaited transition to the proof-of-stake consensus mechanism goes smoothly.

“Now, even though ATOM seems to have limited demand drivers, they have been enough to push its price up over the past few months and if this trend continues, we could see ATOM approaching a 2x in the short to medium term. .

It really depends on whether Ethereum’s upcoming transition to proof-of-stake later this month succeeds in causing a broader rally in the crypto market.

Cosmos is changing hands for $12.74 at the time of writing, down 1.4% on the day.

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