Despite the general correction, Cosmos continues to tear up
Over the past twenty-four hours, the total market capitalization of cryptocurrencies in the amount of $ 2.21 trillion has lost about -1.4%, but this does not prevent Cosmos (ATOM) from confidently going up, adding 9.5% to $ 43.46 per day, this data CoinGecko.
Cosmos crossed the $ 40 mark yesterday and hit an all-time high of $ 40.76. Today started with a tiny retreat and ended with continued growth.
Cosmos is described by developers as the “internet of blockchains”. It is an interaction network that allows different blockchains to connect, exchange data and perform cross-chain transactions. Its advantage is that blockchains can specialize in different areas.
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The ATOM price rise began on August 18, when, following the launch of a DeFi gateway called Emeris, the price of Cosmos jumped 25% from $ 15 to $ 20.
At the end of August, Cosmos also opened a bridge with the Ethereum network. Integration of the Sifchain decentralized exchange built on Cosmos with the inter-blockchain communication protocol allowed for trading between the Cosmos and Ethereum networks.
Cosmos is currently the sixteenth largest cryptocurrency by market capitalization, with these figures it will take only $ 361 million to overtake Uniswap.