ATOMUSDT Buy | S6T3 - Team Trading Post for Fredquantum-Kouba01 Traders Team
Hello, wonderful people of steemit, hello professor @kouba01, it is another day of the steemit Crypto Academy trading Contest week 3 and as a participant today, I will be trading on Cosmos (ATOM).
1.The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc.
What Is Cosmos?
Cosmos is a blockchain project that promises to solve some of very concrete problems which the blockchain industry encounters today. It seeks to bring about a possible solution to unscalable, slow and harmful impacting features of the proof-of-work protocol by way of interconnecting blockchains via it's ecosystem.
Other goals which the protocol seeks to achieve is the simplification of Blockchain technology for developers. Also, since it connects blockchains together, then it helps to remove the fragmentation that exist in the blockchain industry.
The origin of Cosmos can be traced back to 2014 at about the time when Tendermint was created. The white paper of Cosmos was published in 2016 followed by a token asale in 2017. Atom plays a vital role in the governance of the cosmos protocol and it is earned via hybrid proof of stake mechanism.
Founders of Cosmos
Tendermint is the gateway to cosmos ecosystem. So technically, cosmos was founded by three person's namely; Ethan Buchman, Jae Kwon and Zarko Milosevic. In 2020, Kwon stepped down as the CEO but he is still recognized as the main brain behind the project. The position of CEO of the cosmos protocol is now being occupied by PEleng Zhong with a subsequent change in the whole board of directors. These directors are poised with the responsibility of creating an educational resource to enlighten people about the function of cosmos, building up a cosmos enthusiastic community, and making developer experience more better.
What is Atom
Atom is the native token of cosmos protocol. At the time of writing, the price of an Atom is $28.55. It has a market capitalization of $8,175,438,156 and a trading volume of $602,361,169. It has a circulating supply of 286,370,297 Atom with no official maximum supply. It is ranked coin number 22 on coinmarketcap. Some other fundamentals are given below.
| Metric | Value |
|---|---|
| Explorer | mintscan.io, atomscan.com, atom.tokenviewer.com, bscscan.com, etherscan.io |
| Contract address | , BNB Smart Chain (bep20); 0x4338665cbb7b2485a8855a139b75d5e34ab0db94 |
| Link | Cosmos.network |
| Rank | 22 |
| Consensus algorithm | Proof of Stake(PoS) |
ATOM Market Place
Exchanges where atom can be traded include;
| sn | Exchange | Pair |
|---|---|---|
| 1 | Binance | ATOM/USDT, ATOM/BTC, ATOM/BUSD, ATOM/USD |
| 2 | Coinbase | ATOM/USD, ATOMBTC, ATOM/EUR, ATOM/USDT |
| 3 | Kucoin | ATOM/ USDT, ATOM/BTC, ATOM/UST, ATOM/ETH, ATOM/USD |
| 4 | Kraken | ATOM/GBP, ATOM/ETH ATOM/XBT, ATOM/EUR, ATOM/USD |
| 5 | Houbi Global | ATOM/USDT, ATOM/BTC, ATOM/ETH |
2. Why are you optimistic about this token today, and how long do you think it can rise?
I am optimistic about Atom today because:
• One major challenge in the crypto space is the fragmentation between blockchain networks. There are very few blockchain projects that can relate with each other out of the thousands of crypto projects that exist. The cosmos project has carried upon itself the task to intercinnect blockchains thereby increasing it's relevance in the blockchain industry. With the increasing use of the interconnection which cosmos does, it is certain that it's token, Atom will see an increase in its price.
• Cosmos has a big goal of ensuring that it's services can be used without difficulty or complexity. To achieve this it employs a development kit that bases on modularity. This gives developers the access to build up their projects using chunks of codes that already exist. Cosmos popularity will also help boost the price of it's token.
3. How to analyze the token? (using the analysis knowledge learned from professors’ courses) —- important part
For today's trading excercise, I will use KUCOIN exchange and I will trade on ATOM/USDT pair. The analysis tool I will employ is the median indicator, parabolic SAR and multiple time frame analysis.
Firstly, I open the 4 hours chart to see the market mentality. Here the market is in an indecision with no clear cut trend. The parabolic SAR here tells that the market is bearish.
On the 1-hour timeframe, the market is starting an uptrend with the parabolic sar supporting tue trend.
I then go over to the 2-hours time frame and input the median indicator. Here the median indicator is green along the candle which signals a buy trade.
I then open a Buy/long trade at the market price and then set my risk rewad ratio at 1:2
4. Your plan to hold it for a long time or when to sell? Do you recommend everyone to buy? and the reasons for recommending/not recommending
Atom is a Blockchain project that aims to solve the basic issues of Blockchain industry such as scalability and interoperability. It's function in the Blockchain industry is a necessity and so it has come to stay. Atom is also bound to continue seeing an increase as the use of cosmos continue to spread far hence from the fundamental analysis aspect, Atom has got a solid project behind it and so I could advice someone to buy and HODL today. Before investing, it is important to make your own investment analysis.
However, I dont intend to HODL at about now. I will just trade on it for now only.
