Cosmos (ATOM) “silent” has tripled in latest occasions – What is the driving force behind ATOM?

As quickly as the price tag of Bitcoin tends to move positively, the altcoins promptly get benefit of the possibility to build a bullish place. Among these, Cosmos (ATOM) stands out. ATOM’s price tag posted a triple-digit obtain just after the network constructed its DeFi ecosystem and worked on cross-chain bridges for ETH and BTC.

Cosmos (ATOM) "in silence" 3x Increase in Past Time - What is the driving force behind ATOM?
Cosmos (ATOM) “silent” has tripled in latest occasions – What is the driving force behind ATOM?

One of the platforms that has benefited most from the search for a friendlier intelligent contract atmosphere is Cosmos (ATOM), an interoperability-targeted venture that was conceived to come to be the “Internet of Things” of blockchains “thanks to the interoperability layer. inter-blockchain (IBC) of the protocol.

ATOM’s price tag jumped 180% from a very low of $ eight.87 on July twenty to a substantial of $ 24.77 on August 22, as ATOM’s 24-hour trading volume greater from an common of $ 250 million to $ one. $ 87 billion. ATOM is at this time trading all around USD twenty.74.

ATOM / USDT price tag chart. Source: Binance

The latest launch of the initial lively UI for DeFi on Cosmos, termed Emeris, is one particular of the most significant drivers of ATOM’s price tag. Since the introduction of cross-chain trading prospects has thrilled members of the Cosmos neighborhood and has led to a spike in demand for the token.

Through the new interface, end users can accessibility unique cross-chain DeFi protocols on the Cosmos network and exchange sources on blockchains this kind of as IRISnet (IRIS), Persistence (XPRT) and Akash Network (AKT).

The 2nd explanation behind ATOM’s push is the integration of Sifchain with IBC, generating the venture the initial decentralized exchange to enable transactions in between the Cosmos ecosystem and the Ethereum network.

The hottest aspect in the latest bullish momentum comes from an August 23 announcement that the Interchain Foundation (IFC), an organization that money growth grants inside of the Cosmos ecosystem, has funded the growth fund build Interlay to deliver Bitcoin to the Cosmos network.

Bitcoin is undeniably the “leader” of the cryptocurrency marketplace and holds most of the ecosystem’s accumulated sources. Therefore, the skill to operate on Cosmos has the likely to deliver new end users to the network.

Interlay utilizes lock and vault technologies which enables end users to safe their Bitcoins and the totally collateralized interBTC coinage can be utilised in several DeFi tasks and this function is presently accessible as a Polkadot parachain.

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