The crypto that talks to other cryptos is gaining ground. link
Key points
Several factors, including bullish investment firm analysis, have pushed Cosmos's ATOM up.
Cosmos is an interoperability crypto that offers secure ways for blockchains to work together.
All cryptos carry risk and there could be more clouds on the horizon for the industry.
Why Cosmos is on the up
There's no obvious single reason for Cosmos's strong performance in recent days. However, there are a number of contributing factors that have given ATOM some momentum.
1. Bullish investment analysis
Global investment manager, VanEck, published an optimistic analysis of Cosmos and its potential in the coming years. It praised Cosmos's secure cross-chain bridging capabilities, which is a key issue in the crypto industry. Many blockchains operate as individual silos and have difficulty communicating with other networks. Cosmos is one of the interoperability cryptos that addresses this issue.
VanEck predicts that over 5,000 blockchains will be built on its network before 2030 because of Cosmos's "superior technology." The report says, "The Cosmos Hub's ATOM token is in a premier position to capture a substantial share of the public blockchain market's value, and we expect its price will perform according to this expectation."
2. Internet security is imminent
The VanEck report drew particular attention to something called "internet security." It essentially allows blockchains built in the Cosmos ecosystem to use the Cosmos Hub to secure themselves. A new blockchain can use the existing ATOM-backed blockchain to validate itself, rather than rely on its own -- less developed -- token and chain. According to the Cosmos roadmap, the first step toward launching internet security is due soon.
3. DeFi rumors
Finally, there's speculation on social media that some of the projects from the now-defunct Terra (LUNA) ecosystem will move to Cosmos. Several smart contract cryptos are competing to attract Terra applications. Terra was built using Cosmos technology, adding weight to rumors that some decentralized finance developers will move activities there. However, other blockchains, such as Polygon (MATIC) have launched specific funds to entice former LUNA apps.
Very interesting but let's follow the chart:
I would attempt to buy but under 11$ i would be out again..the market is still dangerous.
one Love,
the FXPROFESSOR
Key points
Several factors, including bullish investment firm analysis, have pushed Cosmos's ATOM up.
Cosmos is an interoperability crypto that offers secure ways for blockchains to work together.
All cryptos carry risk and there could be more clouds on the horizon for the industry.
Why Cosmos is on the up
There's no obvious single reason for Cosmos's strong performance in recent days. However, there are a number of contributing factors that have given ATOM some momentum.
1. Bullish investment analysis
Global investment manager, VanEck, published an optimistic analysis of Cosmos and its potential in the coming years. It praised Cosmos's secure cross-chain bridging capabilities, which is a key issue in the crypto industry. Many blockchains operate as individual silos and have difficulty communicating with other networks. Cosmos is one of the interoperability cryptos that addresses this issue.
VanEck predicts that over 5,000 blockchains will be built on its network before 2030 because of Cosmos's "superior technology." The report says, "The Cosmos Hub's ATOM token is in a premier position to capture a substantial share of the public blockchain market's value, and we expect its price will perform according to this expectation."
2. Internet security is imminent
The VanEck report drew particular attention to something called "internet security." It essentially allows blockchains built in the Cosmos ecosystem to use the Cosmos Hub to secure themselves. A new blockchain can use the existing ATOM-backed blockchain to validate itself, rather than rely on its own -- less developed -- token and chain. According to the Cosmos roadmap, the first step toward launching internet security is due soon.
3. DeFi rumors
Finally, there's speculation on social media that some of the projects from the now-defunct Terra (LUNA) ecosystem will move to Cosmos. Several smart contract cryptos are competing to attract Terra applications. Terra was built using Cosmos technology, adding weight to rumors that some decentralized finance developers will move activities there. However, other blockchains, such as Polygon (MATIC) have launched specific funds to entice former LUNA apps.
Very interesting but let's follow the chart:
I would attempt to buy but under 11$ i would be out again..the market is still dangerous.
one Love,
the FXPROFESSOR
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