Cosmos (ATOM) Price Surges 15% Following Global Market Rebound

Hackers Siphon $5M Worth Tokens From Cosmos-based Osmosis
  • Over $940,195,447 million worth of volume has been generated.
  • Ethereum-based projects may interface with the Cosmos ecosystem.

In 2022, Cosmos (ATOM) is one of the projects making a strong impression because of its emphasis on easing communication across different networks. This project claims to be the “internet of blockchains” and aims to accelerate the development of a decentralized economy by connecting all blockchains.

Bitcoin’s week concluded on a high note, moving up against resistance and adding 10% to its value on the last day. The bulk of other coins, which rebounded, are in the same situation. As of the time of this writing, ATOM has gained 15% in the last day, rising from a low of $24.40 to a high of $28.40 from yesterday’s low. Over $940,195,447 million worth of volume has been generated.

Steady Rise This Year So Far

On Jan. 4, ATOM touched a day high of $43.98 as its 24-hour trading volume reached $2.54 billion, according to statistics cited by CoinMarketCap. The most prominent development in recent times has been the deployment of Evmos, an EVM-compatible protocol that allows assets and projects operating on the Ethereum (ETH) network to transfer to the Cosmos ecosystem. This has given a significant boost to ATOM.

ATOM/USDT: Source: TradingView

Now, Ethereum-based projects may interface with the Cosmos ecosystem, previously unavailable. Decentralized finance (DeFi) and non-fungible token (NFT) applications in the Cosmos ecosystem were severely restricted by this.

The protocol’s imminent Theta update on Mar. 31 has also given Cosmos some much-needed momentum. According to CoinMarketCap, the Cosmos price today is $27.95 USD with a 24-hour trading volume of $936,332,964 USD. Cosmos has been up 14.31% in the last 24 hours.

Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.