Cosmos Plunges 6.97% Amid Ongoing Selling Pressure

Cosmos (ATOM) has been struggling in the market, falling 6.97% to $1.669 on the day and sitting near session lows.

The asset remains below its key moving averages, indicating continued selling momentum on both short- and long-term timeframes.

Despite this, Cosmos has made significant strides in institutional adoption, with the launch of the Cosmos Partner Network featuring 17 service providers, including BitGo and Galaxy Digital.

This network aims to help financial institutions deploy tokenized deposits and digital assets using Cosmos infrastructure, expanding its reach in the digital asset ecosystem.

Additionally, Injective has selected native USDC as the new stablecoin standard on Cosmos chains, with usage fees set to fund programmatic ATOM buybacks.