Cryptocurrency market has seen a performer in the last few days and amongst the biggest gainer is Cosmos (ATOM). It has been observed that the digital asset has experienced a 2. The coin has risen in value by 40% in the last 24 hours with its price currently standing at $4. 11. This upward movement has been followed by a sharp increase in trading volume; the latter has increased by 1%. 79% to $90,445,181 of the past day.
An increase of such trading activity is normally a sign of rising interest and confidence in the potential of a project. Cosmos’ market capitalization now reaches $1,606,278,831, making Cosmos the 47 th largest cryptocurrency by this measure. This accomplishment is especially impressive given the current and future state of the crypto market, which is rather saturated and constantly developing.
Cosmos which is regarded as the “Internet of Blockchains” has been gaining increasing attention due to its propositions as a solution to some of the existing problems in the blockchain domain. Due to its emphasis on interoperability and scalability, the project is now among the leaders in the race for a better connected blockchain future.
Cosmos currently has circulating supply and total supply of 390,934,204 ATOM, which ensures that the cryptocurrency is both accessible and rare. It is important to note that Cosmos has set its max supply to be an infinite number, which is something that will enable the long term management of token creation and the development of the ecosystem.
Such supply structure, along with the current price, gives the fully diluted market capitalization of $ 1 616 928 961, which is the optimistic scenario of the market’s vision of Cosmos’ future. The main selling point of Cosmos network is the ability to connect and enable communication between different blockchains.
This is made possible through the Inter-Blockchain Communication (IBC) protocol which enables the transfer of assets and information across different blockchains. As the blockchain industry matures, applications such as Cosmos, that seeks to provide solutions to some of the enduring problems can only grow in importance.
Based on ATOM’s recent performance, the market seems to have started paying attention to Cosmos and may be a token to keep an eye on in the future weeks and months. A word of caution to the investors and traders who are seeking to ride on the back of growing interest in ATOM, however, is that the market is very volatile.
Although the token has been on the rise in the past few days, one should carry out their analysis and take into account all the circumstances in the market. Further as Cosmos refines its technology and builds out its ecosystem it will be intriguing to see how it operates in the space of interoperable blockchain solutions. This could be one of the defining features of the project to make the blockchain world more connected and efficient in their operations to attract more developers and users to the project.
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