Cosmos Hub is gearing up for the v11 upgrade on August 16th. The upgrade follows the successful passing of Proposition 804. It will bring important updates and fixes for core dependencies. Notably, the liquidity module will be removed. Temporary downtime and interruptions in transactions are expected during the upgrade.
The Cosmos Hub team is confident in managing disruptions. The upcoming v11 upgrade announcement has sparked excitement in the Cosmos community. These upgrades demonstrate a commitment to improving functionality and addressing vulnerabilities. Enthusiasts, users, and stakeholders should watch for further updates on the Cosmos Hub v11 upgrade.
1/ Prop #804 just passed! Get ready for the v11 upgrade…
The #CosmosHub will perform the upgrade at block 16596000 (expected to be on Wed, August 16th).
v11 contains a number of updates to core dependencies and a variety of fixes. It also removes the liquidity module. pic.twitter.com/5mjczcxnfh
— Cosmos Hub ⚛️ (@cosmoshub) August 11, 2023
News of upgrades and improvements can affect market sentiment. Positive sentiment around the upgrade, its features, and the potential benefits to the network’s functionality and security could lead to increased demand for ATOM and potentially drive its price higher. If the upgrade introduces technical improvements that enhance the performance, scalability, or security of the Cosmos network, it could attract more interest from investors and traders, potentially leading to an increase in ATOM’s price.
Investors might view upgrades as a sign of a healthy and actively developing project. This perception could lead to increased buying activity, positively affecting ATOM’s price. If the upgrade successfully addresses existing issues or limitations, it could encourage greater adoption and usage of the Cosmos network. Increased network activity might translate into higher demand for ATOM and potentially contribute to its price appreciation.
Key Levels to Watch on Cosmos
The price of ATOMUSD has recently entered the discount region within the previously established bullish range. The ongoing month of August has marked the initiation of a current accumulation phase, anticipated to pave the way for a bullish distribution mirroring the highs observed in July. Notably, the Stochastic indicator presently indicates an overbought condition, signalling an imminent bullish reversal with a potential target of $9.00.
Cosmos Key Levels
Demand Levels: $8.50, $8.00, $7.50
Supply Levels: $9.00, $9.50 $10.0
Total Market Cap: $1.2T
Cosmos Market Cap: $2.9B
ATOM Volume: $67M
Rank: 26
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