Crypto Currency News

Trending News

Bitcoin
$70,672.45
+1261.52
Ethereum
$3,553.10
+39.52
Litecoin
$94.36
-0.22
DigitalCash
$38.12
+0.13
Monero
$136.79
-0.73
Nxt
$0.00
-0
Ethereum Classic
$32.59
+0.66
Dogecoin
$0.22
+0.03

Cosmos is up 25% amid the first-level blockchain boom

Share this article

Cosmos rose 25% on Monday evening as the protocol’s ATOM token nears its all-time high in early May in May.

Cosmos aims at the stars

Cosmos is the newest Layer 1 blockchain to collect.

The project’s ATOM token rose over 25% on Monday evening and has continued its upward trend since a trend reversal in July. ATOM is currently trading at $ 25.72 and is rapidly approaching its all-time high of $ 31.70 reached in May.

Source: CoinGecko

Cosmos aims to create an interoperable network of blockchains that can communicate with one another in a decentralized manner. It is one of many projects that hopes to solve the blockchain trilemma and achieve decentralization, scalability and security without affecting any of the three factors.

Cosmos isn’t the only Layer 1 recovering from the July lows. Solana took a big step this week, surpassing its all-time high of $ 56.20 in mid-August. Since then, Solana has continued its rally and is currently trading at $ 118.50.

Several other Layer 1s such as Avalanche, Cardano and Fantom have also made sustained profits after bullish catalysts in what some have dubbed the “Layer 1 season”.

High gas fees on Ethereum have forced many users to look for alternatives to popular activities like yield farming and NFT minting. Cosmos offers low transaction fees and almost instant confirmation, which makes it an attractive network for various DeFi applications.

Disclaimer: At the time this feature was created, the author owned BTC, ETH, and several other cryptocurrencies.

Share this article

The information on or accessed through this website is obtained from independent sources that we believe to be correct and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness, or accuracy of any information on this website or their access via this website. Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be or become out of date, incomplete, or inaccurate. We may update outdated, incomplete, or inaccurate information, but we are under no obligation to do so.

You should never make an investment decision on an ICO, IEO or any other investment based on the information on this website and you should never interpret the information on this website as investment advice or rely on it in any other way. We strongly encourage you to consult a licensed investment advisor or other qualified financial professional when seeking investment advice on an ICO, IEO or any other investment. We do not accept compensation in any form for any analysis or reporting on ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Solana cracks $ 100 for the first time, with $ 120 on target

Solana has dismissed the recent bear market in the top cryptocurrencies by market capitalization. Still, market participants appear to be getting extremely optimistic, which could lead to a pullback. Feeling…

Fantom collects 71% while expanding the DeFi ecosystem

Fantom has been on the run for the past 24 hours thanks to the rapid growth within its DeFi ecosystem. FTM Goes Parabolic Fantom is booming. The FTM of the Layer 1 blockchain …

Audience Poll: Win a $ 360 Subscription to the Professional BTC Trader

We do this because we want to be better at selecting advertisers for Cryptobriefing.com and telling them, “Who are our visitors? What are you interested in? ”Answer our questions …

Why are avalanches rising?

As the competition between Layer-One protocols continues to intensify, one project in particular, Avalanche, is making great strides to secure its place at the top of the leaderboard. DeFi blue …

Comments are closed.