Cryptocurrencies Price Prediction: Cosmos, Bitcoin & Crypto – European Wrap 16 October
|Cosmos ecosystem staked ATOM faces security risks, says web3 builder
Cosmos (ATOM) faces security risks, according to the web3 builder All in Bits (AiB). The firm identified concerns with the Liquid Staking Module (LSM) that investors interact with to stake ATOM. The firm listed a timeline, with key concerns identified by the team, including a majority of the code being written by North Korean agents and 19 months of unaudited code changes. Cosmos didn't immediately respond to FXStreet's request for comment.
Bitcoin Price Forecast: BTC holds onto recent gains, with $70,000 in sight
Bitcoin’s (BTC) price stabilizes around $67,000 on Wednesday after rallying and breaking above a key resistance barrier on Tuesday. The rise in BTC comes after US Spot ETFs recorded a second straight day of inflows of over $373 million on Tuesday. However, some concerns were raised due to the recent transfer of funds by Tesla, while a report from Glassnode highlights that BTC is expected to experience volatility in the short term.
The crypto market is trying to form an uptrend
The crypto market cap rose by 1.4% to $2.31 trillion. Cryptocurrencies and equities are now out of sync (there was profit-taking in equities), but they maintain a general upward bias. The crypto market is forming an uptrend, which will be confirmed if local highs exceed the previous high of $2.32 trillion.
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