Cosmos [ATOM]: Institutional investment drowns as traders eye longs, more inside

Outflow from Cosmos Hub’s institutional investment hit highs despite retail trading interest. Traders continued to prefer long positions even as liquidations skipped the short sell. Cosmos [ATOM], whose objectives centered around an interconnected economy of blockchains, were part of the assets that experienced massive institutional outflows over the previous week. According to CoinShares’ weekly fund […]

Despite the development, ATOM gained 9.34% in the last seven days. The rise in value also helped traders maintain a positive status quo towards the cryptocurrency. At press time, the BinanceThe metric describes the periodic payments gotten by long or short traders based on the difference between open contracts and spot prices. So, the 0.01% position implied that ATOM traders got a premium interest rate per finding interval.

This might not be surprising, especially as ATOM’s price consolidated over the last 24 hours., longs have also been the casualties – this has been the case since 16 February. The last time shorts significantly suffered for their open positions was 15 February. During this time, traders suffered $432,000 worth of long liquidations. However, Coinglass showed that the market wiped only $39,780 over the previous 24 hours.

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