Cosmos [ATOM]: Is it the right time to short? Analyzing…

ambcrypto.com:

Cosmos Hub lost stakers on its network over the last week. However, with Cosmos [ATOM] increasing its focus on development activity, it could regain the interest of stakers and bring them back to the network.

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According to Token Terminal, Cosmos has ranked second in terms of the number of active developers. Despite the milestone, the network continued to incentivize developers as of 22 February.

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— Cosmos – Internet of Blockchains ⚛️ (@cosmos) February 22, 2023

The spike in active developers and the efforts to hire more could be due to Cosmos Hubs’ upcoming technologies. These technologies could be related to “Replicated Security,” which is the upcoming shared security model of the Cosmos Hub.

However, regardless of these spikes, stakers remained uninterested in the protocol. According to Staking Rewards, the number of stakers on the network declined by 3.24% over the last month and stood at 720,014 at press time.

Source: Staking Rewards

Regardless of the number of stakers, the price of Cosmos’ token, ATOM, surged over the past week. Even then, the overall volume of the token declined at press time. According to Santiment’s data, the overall volume of the ATOM token decreased from 515 million to 131.27 million in the last month.

Source: Santiment

This could be one reason why traders held more short positions against ATOM. According to