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Arweave, Cosmos and Aave’s Move

The cryptocurrency market is ready to end 2021 with a day of sell-offs. 

Arweave, Cosmos and Aave’s Move iBase Trading.
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The cryptocurrency market is ready to end 2021 with a day of sell-offs.

Aave’s (AAVE) token got caught up in the pullback. It further experiences a decline of roughly 3.6% over the past 24 hours of trading as of 4 p.m. ET, but there were a handful of application-backed cryptocurrencies that can push through the bearish pressures.


While their gains were relatively silenced compared to days with bigger moves, Arweave’s (AR) and Cosmos’ (ATOM) tokens are part of the top-performing major crypto tokens over the last day of trading. Arweave has climbed roughly 4.2% over the past 24 hours, while Cosmos’ token is up approximately 2.5% across the stretch.

Atom’s Bearish Move

After months of outstanding gains, most cryptocurrencies hit a patch of bearish unpredictability in December. There doesn’t seem to have been anything major driving the valuation pullback in the crypto space on Dec. 31, however investors are being more cautious toward high-risk plays.

The Aave token is just one of many cryptos that has taken a knock in Friday’s year-end pullback. It has market-leading crypto tokens Bitcoin and Ethereum also down approximately 2.7% and 1.9%, to this date. The Aave token is now down roughly 9.5% over the last seven days of trading. While Arweave’s AR token is down roughly at 1.7%.

While most cryptocurrencies have posted significant sell-offs over the last seven days, ATOM token is a mentionable exception. The ATOM token has gained more or less 9.4% over the last week, and it seems to attract attention as investors look for networks that can push the overall blockchain, decentralized finance, and cryptocurrency spaces forward.

Cosmos’ ATOM token has now risen roughly 400% across the last year of trading. Cosmos provides services that assists in the bridge data between separate blockchains, which could prove to be very valuable and help drive price increases for its token as the crypto and blockchain-services markets continue to evolve. New blockchain and cryptocurrency projects seem to appear more and more daily, but other networks overtake most of these ecosystems.

Should the blockchain services market continue to develop and attract attention from businesses and individual users, there will be an increase in demand for interoperability between networks. Cosmos isn’t the only one in aiming to provide these kinds of features, but it’s been showing signs of impressive adoption and now has 262 apps and services that are utilizing its network.

Now what?

In the aspect of historical trends, investors shouldn’t read too much into today’s movements in the crypto world. The broader crypto market predisposes to high volatility, and it’s not abnormal to see tokens announcing even bigger moves even when there is no news to drive pricing action.

However, today’s selloffs for top cryptos may not tell investors much about the outlook for digital tokens overall. The fact that Arweave and Cosmos were able to post significant gains could be a sign that there is major support behind these networks and their respective tokens.

Cryptocurrency investors should move forward with the expectation that pricing for tokens will once again be highly volatile in 2022. The overall combined valuation for cryptocurrencies roughly tripled in the year 2021, and that sets high expectations this year. Although it’s possible that some cryptos will again post stellar gains thanks to the strength of their applications and services.

The risk profile in the crypto space seems to have risen so far. After such a stellar performance in 2021, there’s a lot to prove in the new year, and investors should probably be more selective about which crypto tokens they put their money into.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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John Rodriguez discovered crypto in 2010 and instantly fell in love with the idea of decentralization. John lives and works in Singapore where he has a successful career in publishing. John is a lover of sport and art.