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The Cosmos community upholds a 7% inflation rate, boosting network confidence. The Crypto community’s rejection of Proposal 868, aimed at reducing the minimum inflation rate, underscores a commitment to maintaining the current 7% rate. This choice is expected to enhance stability and bolster confidence in the Cosmos network, potentially influencing the perception of ATOM among investors and users.
Cosmos Community Upholds Current Inflation Rate in Crucial Votehttps://t.co/21M0u7EYu7
— BH NEWS (@bhnewsnet) January 23, 2024
The decision signifies a collective stance in favor of existing inflationary measures, suggesting a belief in their efficacy. This alignment could have positive implications for the overall growth of the Cosmos ecosystem. Investors may find reassurance in the community’s decision, strengthening the appeal of ATOM. The rejection of Proposal 868, therefore, reflects the community’s strategic approach to maintaining stability and fostering trust within the Cosmos network.
Key Cosmos Levels To Watch – January 23
A major correction to the downside is currently ongoing. The market’s uptrend encountered its first major pullback after the formation of a $10.570 high. The pullback led to the formation of the major low at $8.200.
According to the RSI (Relative Strength Index), the market is declining into an oversold region. A crash beyond the $8.200 low might flip the market into an oversold state. This is likely to cause the resumption of the market’s bullish trend.
ATOM Key Levels
Resistance Levels: $11.000, $12.580, $13.530
Support Levels: $8.900, $7.880, $6.160
Market Metrics
Total Market Capitalization: $1.57T
Cosmos Market Capitalization: $3.5B
Cosmos Volume: $162M
Market Rank: #22
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