Bitcoin price is at $69,000 as of the time this article was prepared, and altcoins continue to show positive trends. Cosmos (ATOM) recently announced a new partnership. What does this move mean? Let’s discuss the current predictions for ATOM Coin and the details about the new stablecoin in the network.
Cosmos (ATOM)
Frax Finance is expanding into the Cosmos ecosystem through a partnership with Noble. Such agreements can have more significant effects on prices during bull markets. Especially as Bitcoin struggles to reclaim $69,000, the price of ATOM Coin could diverge positively. The introduction of FRAX and sFRAX into the Cosmos ecosystem will provide users with more alternatives in trade and other DeFi services.
Sam Kazemian, the founder of Frax Finance, emphasized the strategic importance of this initiative. He mentioned that the recent partnership is also significant for the Cosmos community.
“Bringing native FRAX issuance to Cosmos has been a priority for some time, and we are excited to announce Noble as our issuance partner. We look forward to the availability of FRAX and sFRAX and are excited about the potential innovative use cases.”
Although it’s too early to see the effects, the latest move could yield positive results in the medium and long term as an alternative to USDT and USDC. The partnership with Noble could pave the way for future integrations and expansions. Therefore, it could potentially bring additional Frax assets to the Cosmos ecosystem.
ATOM Coin Price Prediction
The ATOM price has been hovering above the $10.7 support since the end of February. The decline after the $14.6 peak was triggered by fluctuations in the BTC price. As Bitcoin now attempts to reclaim $69,000, ATOM Coin could also recover from its low.
If the $11.7 level can be reclaimed, $12.45 could be tested. Beyond that, targets of $13 and $13.78 could come into play. The ultimate goal is a new 2024 peak above $14.6. The current focus is on whether Bitcoin’s price increase will continue. If closures start above $69,000, BTC could rise to $71,500 and $73,777. In this case, altcoins could climb to higher peaks.
