At the same time, when the digital currency market rose in the last days of last week, Atrium surpassed bitcoin. As it turns out, investor risk-taking has increased in the last few days, and now altcoins may outperform bitcoins in the short term.
According to Kevin Desk, on Friday, at the end of a volatile week for the market, many digital currencies faced price increases. Atrium, meanwhile, saw a 5% jump in prices from other digital currencies. However, as the price failed to reach over $ 3,000 in two weeks, this time Atrium also failed to pass this level. Meanwhile, bitcoin jumped 3 percent to $ 42,200.
The global stock market was also on the rise yesterday, while gold, which is largely considered a protective asset for investment, fell. The upward return on corporate stock prices and the further growth of coins compared to bitcoins show that investors are more willing to take risks.
Some analysts believe that the volume of fluctuations in digital currency prices is still likely to continue to increase.
Sean Farrell, a senior fellow at the FundStrat Investment Institute, said:
Although investor risk has increased this week, we can see greater price volatility in the short term. We also believe that any drop in Bitcoin and Atrium to lower price levels is a good buy option.
After the price jumped on Wednesday, the volume of bitcoin transactions in digital currency exchanges fell again. In addition, the ratio of the volume of purchase orders (long) to sales orders (short) on the futures market on stock exchanges reached equilibrium on Friday; This means that yesterday’s jump in the price of bitcoin is not necessarily due to a change in the views of traders.
On the other hand, the average bitcoin funding rate has recently risen, suggesting that traders’ sentiment may have been slightly higher. The term futures market capitalization rate refers to the amount of commission that long-term holders (those who believe prices are rising) and short-term holders (those who believe prices are falling) have to pay to keep the market afloat. balance.
On the other side of the market, ApeCoin, a token linked to the Bored Ape Yacht Club (NFT) token set, jumped 90 percent from a bottom of $ 6.48 on Thursday on its second launch day. $ 15 back. The strong uptrend came after the Ipcoin market fell 80 percent on Thursday.
The rise in Atrium prices has been partly driven by the progress of the network development team in shifting the Atrium consensus mechanism from proof of operation to the new inventory proof model.
By the middle of last week, the experimental transfer of Atrium to the stock-checking mechanism was successfully completed. Now in Kiln’s test network, which hosts the transfer, credentials create new blocks and process transactions instead of miners.
David Duong, a senior researcher at the Quinbase Digital Currency Exchange, said:
Number of active beacon circuits [شبکه نسخه دوم و مبتنی بر اثبات سهامِ اتریوم], Increased from 300,702 to 315,576 from the end of February (February 26) to March 17. This means that the number of letters of credit increased by 4.9 percent in just 7 days, while the growth of this figure in February (February) and January (January) was 3.9 and 4.8 percent, respectively.
If we want to look at the charts, we have to say that the growth of Atrium prices is stronger than that of Bitcoin in these few days and this superiority can be more noticeable in the short term. As the 1-day market view of Atrium / Bitcoin shows, the price has returned after hitting support at 0.064 and is now trading at $ 0.073, which is 4% of current levels.
Add to that the fact that analysts have recently noticed a reduction in Atrium’s intranet activities.
The graph below shows the total fees paid by consumers on different days of the year, which shows that Atrium miners have recently earned less from the source of the fees.
Farrell said one of the reasons for the decline in Atrium’s intra-chain activity was declining demand for expensive NFT; Assets that are mainly built and traded in the Atrium network. A FundStart analyst says that since mid-January, when the volume of Internet searches related to NFT on Google collapsed, consumer interest in this area has decreased.
Farrell also noted the multiplier in Atrium’s price-to-sales ratio, which rose from 17 to 50 in just a few months. The price-to-income ratio is obtained by dividing the market value by digital currency of the total revenue of this currency protocol, and increasing it means that the token associated with this protocol is at a price higher than its actual value.
Post Market Status: Opportunity for Atrium’s price jumps against bitcoin first appeared in digital currency.