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ATOM just broke past $8 for the first time, up over 30% in the past 24 hours

A few minutes ago, Cosmos (ATOM) price crossed $ 8 for the first time and hit a high of $ 8.6 – up more than 30% in just the last 24 hours.

ATOM 2

Source: TradingView

This means that ATOM is ahead of all other cryptocurrencies in the top 100. For example, Bitcoin has risen just 0.25% over the past 24 hours as King Coin entered a consolidation pattern.

The consolidation of BTC was actually part of the reason for this rally as altcoins thrived during periods of low volatility.

However, ATOM may be limited in its rally over time.

Kelvin Koh, Partner at The Spartan Group and Partner at Goldman Sachs, saying that ATOM only partially captures the value of the Cosmos ecosystem, which is different from other cryptocurrencies:

“ATOM captures only part of the value of the Cosmos ecosystem ie, there are other hubs. DOT represents the value of the entire Polkadot ecosystem.”

You can see the ATOM price here.

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