was one of the biggest losers on the market that lost an important foundation beneath it. Such a tendency seemed critical for an asset that has been moving in a downtrend for more than a year now.A further plunge would have created even more pressure on an asset that has been justifying its place as the least profitable cryptocurrency from the top 10 of the market. Unfortunately, ADA's movement on the market shows that recovery will not be a possibility in the future either.
After the transaction was finalized, the price of ETH saw a massive 9% price rebound despite being in a heavy loss shortly before that. Some investors assumed that Alameda was able to move ETH by 9% with such a modest volume.However, Ethereum's trading volume is enough to conclude that it was not possible to cause a 9% move with only $50 million, especially considering the liquidity on Binance and FTX.
Since the middle of September, Atom has been continuously moving down, losing more than 27% of its value despite the 182% rally before that. The strong price performance despite poor market conditions attracted a lot of investors to the ecosystem, and it will most likely help Atom if bulls are able to push it above the local resistance level and initiate a full recovery.
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