Many people may be surprised to see Cosmos (ATOM) skyrocket in value. Especially during a bearish stint for other markets, such a trend is somewhat unusual. Thanks to various prominent ecosystem developments, this uptrend may last a while longer.
The past few days have seen impressive price momentum for Cosmos, or ATOM as most people know it. It is one of the few assets sustaining bullish momentum during the recent market dip. Although Cosmos’ asset lost momentum a few days ago, it didn’t take long to resume the overall uptrend. Traders and speculators are very bullish on this cryptocurrency, which explains why its value has surpassed $35 in the past day.
As there is no immediate sign of slowing down, one must wonder how high the ATOM value can go. Reaching $40 seems plausible at the current rate, although there will be some resistance eventually. Moreover, it is crucial to note Cosmos’ asset notes a 450% price increase year-to-date. That is significant and a much better return than any traditional investment.
Various ecosystem developments in the Cosmos space have ushered in this excitement. One of the projects to look forward to is Terra, which will enable IBC soon. Inter Blockchain Communication is one of the many developer tools built by Cosmos coders to expand the native ecosystem and bridge the gap to other blockchains.
PayWithTerra, a solution to accept stable cryptocurrency payments through a website, will embed IBC to introduce more liquidity and usability. Doing so will provide merchants with more options to accept payments online without worrying about volatility in the cryptocurrency industry. While adopting this technology is not guaranteed, building such tools can pave the way for broader adoption.
The Osmosis project offers significant potential for the Cosmos ecosystem. A decentralized peer-to-peer blockchain to create liquidity and trade IBC-enabled tokens can bring these digital assets to a vast audience. Moreover, it has standard features, including liquidity pools, impermanence loss, and everything people like about decentralized exchange solutions.
Various tokens are accessible through Osmosis, including ATOM, ION, IRIS, DVPN, CRO, XRPT, and IOV. As more IBC-enabled tokens come to market, Osmosis will introduce trading support for those. The platform also has a few airdrop goals for users to look into, enticing more people to give this decentralized protocol a try.
There have been numerous attempts at decentralizing social media over the years. Some have been more successful than others, although no platform sticks around forever. Desmos, a blockchain serving as the backbone to build user-centric social networks, may prove different. It relinquishes centralized control in favor of stakers and validators operating the network. Moreover, social media users can earn DSM tokens by participating.
Any identity created on Demos is cross-platform compatible. Building a proof of identity by combining centralized social media networks and proof of X blockchains starts an exciting opportunity. Additionally, Demos provides an incentive to become verified. Linking more profiles to Desmos profiles will introduce rewards for those participants.
Similar to other ecosystems, Cosmos will be home to decentralized finance opportunities. With the help of Emeris, there will be support for instant cross-chain trading. Connecting to the best cross-chain DeFi protocols – including Gravity DEX – is a big step in the right direction.
Users will trade between five different chains through a trusted, stable, and audited DEX protocol. Users who participate in liquidity pools will be able to earn competitive yield, which is something all DeFi enthusiasts aim to pursue.
Several other projects leveraging Cosmos and IBC technology are nearing their mainnet launch. Some of those have a confirmed release date, whereas others are a bit more tentative. There is tremendous activity in this ecosystem, all of which can bring more value to the ATOM asset over the coming months.
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