Cosmos (ATOM) is up 2.5% this week to $5.405, outperforming Bitcoin (BTC), which has added just 0.2% to $104,435. The token's rise is driven by expectations of its listing on Japan’s Bitbank crypto exchange on May 13. To mark the occasion, Bitbank will temporarily waive trading fees for ATOM transactions, further fuelling interest.
This upside move is also supported by broader market optimism following successful U.S.–China trade talks over the weekend. The two sides agreed to a 90-day trade war truce and announced substantial tariff reductions—U.S. tariffs on Chinese imports were cut from 145% to 30%, while China reduced its tariffs on U.S. goods by 10%. The agreement has significantly boosted risk sentiment across financial markets, lifting cryptocurrencies toward new all-time highs.
With improving fundamentals and a favourable macro backdrop, ATOM is now eyeing a potential rally towards the $7.500 level.
