Over the last 24 hours, the value of Cosmos rises by 7.08% to $41.18. This prevails its positive shift over the last week, where it has gained a 6.0% profit, shifting from $39.39 to its present value. As it stands presently, the coin is at its all-time high of $44.42.
Why The Value Of Cosmos Rises Now?
The Cosmos project asserts to solve one of the largest issues in the blockchain space, the process of operation or interoperability among two or more than two blockchains. It focuses on addressing the problems in the blockchain industry like the cost, scalability, and environmental impact by providing a Cosmos ecosystem of connected blockchains. One of the important issues is the extent of fragmentation witnessed in blockchain networks. There are numerous blockchains but only a few among them can efficiently communicate with one another. This coin is looking to address this issue by creating an Interblockchain Communication protocol.
This focus on interoperability looks to be attracting the latest investors. Ganesh Kompella, Venture Partner, Tykhe Block Ventures told in an interview,
“Cosmos is one of the top protocols with interoperability and cross-chain capabilities. Practically every smart crypto investor or trader talks about it.”
Another contributing factor for which the Cosmos rises is the launch of Evmos of Cosmos, an application-agnostic chain connected to crypto. This protocol enables Ethereum-based projects and assets to shift easily within the network of the Cosmos. This was a huge move as there was no relationship between Cosmos and Ethereum before this.
The third reason for which the value of Cosmos rises could be the expansion of the network to 28 live interrelated chains with a complete value of approximately $68 billion. The varied interconnections include networks like Terra (LUNA), Binance Smart Chain, and Crypto.com (CRO).
The Theta upgrade that is planned for March 31 has also kept ATOM (Cosmos) strong. The upgrade, as per a leading media house, will add a few latest features like meta-transactions. This will enable the presentation of transactions by varied accounts that get tips and the initiation of inter-chain accounts that allows users to manage accounts through multiple blockchains. Liquid stacking, which is a system where users use the value of staked assets in varied parts of the Cosmos coins ecosystem, will also be present with this latest upgrade.
What Is Cosmos (ATOM)?
Claimed as an “Internet of blockchains”, by the team that founded it, the aim of Cosmos is to formulate a network of the crypto networks that are tied by open-source tools for a thinner liner of transaction among them. This aim of ATOM on interoperability and customizability sets its apart from any other project in the cryptocurrency space.
Rather than choosing its own network, its aim is to promote an ecosystem of networks that can share information and tokens mechanically, with no central party boosting the activity. Each latest independent blockchain formed within Cosmos (called a “zone”) is then bound to the Cosmos Hub, which keeps up with a record of the state of each zone and vice versa. As per the ATOM Cosmos price prediction, the anticipated Cosmos price by the end of this year is $46.635 and the year-to-year alteration is +95.99%.
The Bottom Line
The value of Cosmos rises in the last 24 hours to over 7.08% to $41.18. This coin has been on the positive trend for the last few days for several reasons that have been discussed above. One factor among them is the launch of Evmos of Cosmos, which is an application-agnostic chain that is connected to crypto. This protocol enables projects that are based on Ethereum and assets to shift easily within the network of the Cosmos. This is thought of as a huge move as there was no relationship between Cosmos and Ethereum before this.
Frequently Asked Questions On Cosmos Rises
1. Why is Cosmos crypto going up?
The reason for which the value of Cosmos rises could be the expansion of the network to 28 live interrelated chains with a complete value of approximately $68 billion. The varied interconnections include networks like Terra (LUNA), Binance Smart Chain, and Crypto.com (CRO).
2. Is Cosmos a good crypto?
Yes. As per ATOM price predictions and its previous history, the coin may cross the value of $30 this year. It is more than just a bridge among blockchains and its operations make it a great option for investment in the market
3. Will Cosmos go up?
As per the ATOM Cosmos price prediction, the anticipated Cosmos price by the end of this year is $46.635 and the year-to-year alteration is +95.99%.