Cosmos (ATOM) Price Surges 11% In Last 24 Hours Amid Market Rise

Cosmos (ATOM) Price Surges 14%, Eyes for $35 Mark
  • Cosmos is still 34.41% below the all-time high of $44.70.
  • Cosmos gives developers the ability to swiftly design blockchains.

Cosmos (ATOM) is a cryptocurrency that serves as the foundation for an ecosystem of blockchains designed to scale and interoperate with one another. Cosmos is a proof-of-stake cryptocurrency network. ATOM holders may stake their tokens to keep the network running, and in exchange, they will get additional ATOM.

The primary goal of Cosmos is to make it possible for decentralized apps — anything from NFT markets to decentralized exchanges — to function quicker and more cost-effectively by letting them run on their own dedicated blockchains.

The Inter-Blockchain Communication protocol, often known as the IBC, connects separate blockchains to one another. Moreover, with prebuilt modules, Cosmos gives developers the ability to swiftly design blockchains that are configurable to their individual use case.

Integrity of Cosmos Hub

The cosmos blockchain uses a hybrid proof-of-stake method, and the ATOM token aids in the integrity of the Cosmos Hub, the project’s main blockchain. This cryptocurrency is also used to govern the network.

To facilitate ease of use and interoperability between chains, the Cosmos consensus engine, IBC protocol, and software developer kit have been designed to maintain the security and transaction costs and the speed and efficiency that developers expect from other leading blockchain platforms.

ATOM/USDT: Source: TradingView

According to CoinMarketCap, the Cosmos price today is $29.31 USD with a 24-hour trading volume of $1,141,354,061 USD. Cosmos has been up 10.87% in the last 24 hours. Moreover, the price of Cosmos has risen by 0.40% in the past seven days. Cosmos is 34.41% below the all-time high of $44.70. The current circulating supply is 286,370,297 ATOM.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.