Aliens TLDR

The bullish setup in ATOM appeared as the token rose over 330% from its June low at $7.82 to this weeks swing high near near $32.

According to data, Cosmos investors have staked over 180 million ATOM tokens to become validators on its 'Cosmos Hub,' a proof-of-stake blockchain that constitutes one of many hubs on the network.

Pentoshi, an independent market analyst, noted that the rising number of staked ATOM tokens have been instrumental in pushing its price upward.

According to the analyst, ATOM is seeing clear: "Signs of absorption" Another analyst, known by the pseudonym 'Bluntz,' anticipated that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.

Like Pentoshi, Bluntz views ATOM's chance of revisiting its previous record-high as a base to continue its bull run.