Cosmos (ATOM) has surged past the $3 mark, driven by increased demand from large investors in the derivatives market. This demand has led to a 9.78% rise in futures open interest, reaching $177.57 million, according to CoinGlass. The price movement is supported by technical indicators, including a hammer candlestick pattern and a potential bullish Marubozu formation, with rising buying pressure indicated by RSI and MACD. Additionally, Cosmos has announced a partnership with Everstake and Turkey’s Paribu Custody to provide institutional-grade staking services for ATOM and other digital assets. This collaboration is seen as a positive sentiment driver, contributing to the recent price increase.