Is Cosmos $ATOM Preparing for a Mega Comeback?

Cosmos $ATOM fell hard, the hype disappeared, but the BUIDLers? They never left and have been quietly levelling up the ecosystem, ready for the next wave!

Let’s find out if $ATOM could be the most underrated play in crypto, right now!

Cosmos — $ATOM

What is Cosmos?

First launched in 2019, Cosmos is a Layer 0 network, home to an entire internet of blockchains. Cosmos is notorious for creating the most interoperable ecosystem, where every network, app and service can securely engage across chains.

How is this possible?

How Does Cosmos Work?

Thanks to the IBC (Inter-Blockchain Communication) protocol.

In a nutshell, the IBC protocol enables any compatible blockchain within the ecosystem to exchange data, crypto, NFTs, and even run cross-chain smart contracts seamlessly and securely.

IBC (Inter-Blockchain Communication) Protocol

By connecting to the Cosmos Hub, independent blockchains, each with its own validators, consensus mechanisms, etc., can interoperate regardless of their core technology. To name a few, Injective, dYdX, Sei Network, and many other powerful IBC-enabled chains are a part of the Cosmos universe.

Why Cosmos?

IBC Eureka

Where it gets even more exciting is with the newly launched IBC Eureka (IBC v2), providing hyperspeed finality bridging between Cosmos, Ethereum, and over 100+ chains, all in one click, and powered by yours truly, $ATOM. Whether you’re a user or developer, the IBC is your portal to the expansive galaxy of Web3.

IBC Eureka — Cosmos to Ethereum

Cosmos is built to expand and open full interoperability for Web3 as a whole, and thus, solving four of blockchain technology’s main problems: interoperability, scalability, sovereignty and sustainability. To say the least, IBC Eureka is a superior cross-chain interoperability solution.

Cosmos Ecosystem

After a six-year journey, many apps and networks in the Cosmos ecosystem have come and gone. Even many OG’s, including Osmosis, Stargaze, and even Celestia, have struggled over the last few years, but despite the rough ride, they continue to BUIDL, ready for another potential $ATOMic rise in the Cosmos ecosystem.

Cosmos Ecosystem

Honestly, we’ve only hit the tip of the iceberg when it comes to the tech behind Cosmos, and it’s remarkable how much and what they’ve built in their 6 years of existence. The total IBC-connected economy has a combined $163B TVL, with an estimated 2 million monthly users navigating and using the Cosmos ecosystem.

Cosmos Token ($ATOM)

Right at the very core of the entire Cosmos network is the $ATOM token. $ATOM is the currency used to pay for transaction fees, staking for network security and passive rewards, and to participate in the governance! In 2022, Cosmos released a proposal for ATOM 2.0, a new tokenomics model that should enhance token utilities and reduce token inflation. Although parts of the proposal are live, some are still in the pipeline.

Cosmos Token — $ATOM

Conclusion

According to CoinMarketCap, at the time of writing, the $ATOM token is hovering at $4.22 with a market cap of $1.98B. In September 2021, $ATOM peaked at an ATH of $44.70, but has since then declined and struggled to make a resurgence. Hopefully, we’ll see millions of new users join the Cosmos ecosystem, alongside the already millions of loyal $ATOM users and HODLers.

Official Cosmos Links

Cosmos Website

Cosmos X

Disclaimer

The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.