Cosmos Hub's ATOM Continues Bearish Trend Amid Ongoing Conflict

The global cryptocurrency market continues to experience a downturn, largely attributed to the escalating tensions between the United States and Iran. One of the most significant casualties of this bearish trend is Cosmos Hub's native cryptocurrency, ATOM.

Over the past week, ATOM has lost a substantial 20% of its value, with its current price hovering below $1.80. This decline can be attributed to weakening on-chain and derivatives data, which indicate a persistent downward momentum for the coin.

The Total Value Locked (TVL) in Cosmos Hub's ecosystem has been steadily declining since mid-January, reaching a low of $138,370 according to DeFiLlama. This decline suggests waning user engagement and activity within ATOM-based protocols, which may further impact the coin's price.