Cosmos Network Restarted After Governance Attack, ATOM Price Remains in Downtrend

Cosmos's ATOM token has been trading at $1.688, down by 6.27% on the session. Despite a technical halt to protect against an attempted governance attack involving 1.2 million ATOM, validators successfully restarted the network and resumed block production.

The recent partnership between Cosmos and Balance Canada aims to enhance tokenized deposit infrastructure for institutional clients, while the Partner Network was launched to support digital asset initiatives focused on banks and institutions.

Technical analysis suggests that ATOM/USD is trading below its key moving averages and technical signals favor a continued downtrend, with price expected in the $1.622 to $1.862 range.