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The approved proposal to cut Cosmos Hub’s native token Atom’s maximum inflation rate from 14% to 10% is likely to have a bullish impact on ATOM. The decrease in inflation aligns with a more conservative economic model, making Atom’s staking yield more attractive to investors. The annualized staking yield dropping to 13.4% can potentially encourage long-term staking and participation in the Cosmos network.
ICYMI: Cosmos community approves capping Atom inflation rate at 10%https://t.co/9UtiZH3oFz
— The Block (@TheBlock__) November 26, 2023
The governance decision, although narrowly passed, reflects a responsiveness to concerns about overpayments for security. The support from validators like Zero Knowledge Validator, emphasizing the unnecessary nature of double-digit inflation for security, adds credibility to the change. However, the opposing view from AllNodes highlights potential challenges for smaller validators, indicating a nuanced impact.
Cosmos Key Levels To Watch – November 26
With the $7.310 low being the target, the bulls caused the price to decline from the $10.300 resistance in July 2023. The resulting crash led the price into the $6.160 demand zone after a higher low had been formed earlier at $6.280.
According to the SMA (Simple Moving Average), ATOMUSD is now bullish. The price has also bounced back upward from the oversold region, according to the Stochastic Oscillator. The bullish trend is likely to continue for a long period.
ATOM Key Levels
Resistance Levels: $10.300, $12.950, $15.440
Support Levels: $8.940, $7.880, $6.160
Cosmos Metrics
Total Market Capitalization: $1.39T
Cosmos Market Capitalization: $3.7B
Cosmos Volume: $172M
Market Rank: #22
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