Data within the chain: Atrium’s market will not rise soon

A number of internal indicators, as well as data on derivatives markets, show that Atrium prices are unlikely to reach over $ 3,500 soon. Also, there is always the risk of falling below $ 2850.

According to Kevin Telegraph, the price chart of Atrium has a downward trend, which is largely due to an 11% drop in the price of this digital currency in the last month. However, other traditional financial assets also underwent sharp revisions during this period. For example, during this period, the value of each share in the exchange-traded fund (ETF) of Invesco China Technology, which consists of shares of companies operating on the Chinese stock exchange, fell by 31% and the Russell 2000 index (8). The percentage decreased.

Data within the chain: Atrium's market will not rise soon
12-hour chart of Atrium prices in dollars.

Analysts currently fear that the loss of support for the downstream channel of the Atrium $ 2850 could lead to a sharp drop in the price of this digital currency. However, the investigation of such a problem depends to a large extent on the transactions of derivatives traders and the data in the Atrium network.

The total value of the locked-in capital (TVL) in the Atrium network has dropped to 27 million Atrium units in the last 30 days, according to Defi Llama. To measure the value of the total capital locked in the Atrium, the number of tokens deposited in smart contracts, including decentralized finance (DeFi), decentralized token markets (NFT), games and decentralized programs, is calculated.

Atrium’s average network transaction fee rose to $ 13 after reaching $ 11.50 on April 20. However, retailers need to consider whether this change reflects a reduction in the use of decentralized applications or simply an increase in the number of users using second-level scalability solutions.

Atrium Premium Contracts contains bear signs

Analysts use futures data to understand the orientation of professional traders. However, unlike the constant trading of futures, whalers and manufacturers prefer to use seasonal futures contracts; Because in this case they can be protected from fluctuations in the speed of capital supply.

Capital ratios actually measure the difference between the price of long-term futures and the price of immediate markets. In neutral markets, the annual premium (price difference) on Atrium futures contracts should be between 5 and 12 percent so that traders can lock their money until the contract expires.

Data within the chain: Atrium's market will not rise soon
Schedule of changes in the annual premium for three-month futures contracts of Atrium.

Atrium 2% premium in recent days shows a lack of demand for purchase among traders in the leverage market. Although this value does not accurately indicate a reversal situation (negative premium), traders usually consider it a downward trend when the percentage falls below 5%.

These data show that retailers have had a neutral and downward outlook for Atrium over the past few months. However, in order to eliminate the external factors influencing the data related to the derivatives markets, we must also consider the data in the Atrium network. For example, a study of the use of the network allows us to determine whether the actual volume of use of Atrium is to increase the price of this digital currency.

The data in the chain does not matter

By measuring the number of active portfolios in the Atrium network, a reliable and fast index can be obtained to measure the extent to which traders use this network. Although increasing second-level decision-making may have reduced the reliability of this indicator, it can still be a good starting point.

Data within the chain: Atrium's market will not rise soon
Average weekly number of active addresses in the Atrium network.

The average number of 584,477 active daily addresses has decreased by 4% compared to the last 30 days and is by no means close to the average number of 675,117 addresses in November 2021 (1400 November). As a result, based on these data, it can be said that transactions in the atrium network, at least in the first layer, have no upward signs.

Traders must rely on indicators of decentralized programs, but not only on the value of total locked-in capital; Because this percentage is too focused on Diffy applications. By measuring the number of active URLs that show an increase or decrease in the number of users of these applications, a broader perspective on the digital currency market can be achieved.

Data within the chain: Atrium's market will not rise soon
The atrium network has decentralized program activities over the past thirty days.

The number of active addresses of Atrium decentralized network applications has decreased in the last 30 days. The data from the Atrium Network seems a bit disappointing, given that the number of active addresses for decentralized network applications such as Solana has increased by 34%.

Unless Atrium’s decentralized transactions and utilization utilize well, support for the $ 2,850 downtrend is likely to break and fall deeper to lower levels.

The publication In-Chain Data: Atrium’s market will not rise soon appeared for the first time in Digital Currency.

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