ATOM is the native token of the Cosmos Hub blockchain, which is part of the Cosmos ecosystem. Despite the crypto market's impressive rise in recent weeks, it is still trading 78.88% below the all-time high reached in January 2022.
Large-scale price drawdowns often cause newcomers to panic and hastily sell tokens. However, experienced traders regard such events as an opportunity to form a reliable medium- or long-term portfolio and purchase the coins they are interested in at a discount.
Let's figure out how much you need to invest in ATOM now to become a millionaire during the next bull run.
How the Cosmos ecosystem works
Cosmos is a decentralized and scalable ecosystem that provides connectivity between two or more independent blockchains, allowing them to interact with each other. Because of this, it is often called the “Internet of Blockchains.”
The first and main blockchain launched in the Cosmos ecosystem is called Cosmos Hub. It works as a link between all independent networks. The native Cosmos Hub ATOM token supports and secures it. ATOMs can be added to staking, delegating them to any validator of your choice, and receive rewards for this.
Source: CoinGecko
At the time of writing, ATOM is ranked 29th in the top 100 cryptocurrencies, with a market capitalization of approximately $2.74 billion.
How many ATOMs do you need to buy to become a millionaire?
To calculate the number of tokens you need to buy to become a millionaire when ATOM returns to its all-time high, you can use the following formula:
Quantity ATOM = Target Amount / Expected Future Price,
Where:
Target amount – $1 million Expected future price – historical maximum $44.45
Thus, to see a round sum of $1 million in your account, you need to purchase 22,489.89 ATOM. At the current price of $9.36, the coins would be worth approximately $210,316.
However, it should be understood that the crypto market can be extremely volatile and subject to the influence of “black swans”.. The calculations provided are based solely on current data and assumptions.. Always remember to adhere to risk and money management and only trade with money that you can afford to lose.