ATOM, the token of blockchain Cosmos, rose as much as 8% in the past 24 hours amid upcoming airdrops to Cosmos stakers and a bridge implementation with Polkadot. By shauryamalwa
ATOM surged 8% in the past 24 hours but saw resistance on Monday morning.
ATOM rose to $35.22 during early Asian hours from Sunday’s lows of $28. The prices saw resistance at those levels and tumbled to $32 at the time of writing. ATOM prices reached an all-time high of $45 last week but have since fallen 25% alongside a drop in the broader crypto market.Strong fundamentals factors supporting the price surge are the upcoming airdrops to Cosmos stakers and abetween Cosmos and Polkadot. Bridges are tools that connect and transfer data between two blockchains.
The airdrops are part of a planned process for Cosmos stakers. Cosmos, as a proof-of-stake blockchain, relies on validators that provide computing sources by locking up ATOM in nodes to maintain the network and process transactions, in return for token rewards.
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