Crypto
ATOM Surges 12.81% as Altcoin Rotation Boosts Trading Volume
Cosmos' ATOM token rallied by 12.81% over the past 24 hours, reaching a price of $1.80 and exceeding $74 million in Spot trading volume.
The increase in activity is part of broader altcoin rotation, with the Altcoin Season Index rising 53.12% over the past week.
Rising leverage also contributed to the rally, with Open Interest increasing by 14.25% to $137.99 million.
However, this expansion in leverage could lead to increased price volatility if ATOM encounters stronger selling pressure around its nearby resistance level of $1.869.