Cosmos Reaches New All-Time High Despite Static Crypto Market

Cosmos reaches new all-time high after the great bull run it had over the past few days, while the rest of the crypto market remained static as we can see more in our latest Cosmos news.

Crypto’s combined global market cap of $2.51 trillion barely moved in the past 24-hours but this did stop Cosmos to blow up 10.74% overnight to set a new price of $39.58 as per teh data aggregator Nomics. ATOM crossed the $40 price yesterday and now Cosmos reaches a new all-time high of $40.76 after the smaller retreat of today. However, the retreat was slight if you take into consideration Cosmos’ explosive price performance recently as it is still $10 up from a week ago and around $20 up from the time last month.

Cosmos is described as the internet of blockchains and it is an interoperability network that enables different blockchains to connect, share data, and transact with each other with that advantage that is able to specialize in different areas so no other blockchain needs to corner the entire market. The price of Cosmos rallied 25% from $15 to $20 after the launch of DeFi interface dubbed Emeris. Cosmos opened a Newbridge with the Ethereum network with the integration of Sifchain which is a decentralized exchange built on Cosmos and the inter-blockchain communication protocol and enabled trading between Ethereum and Cosmos for the first time in history.

As of today, Cosmos is the 21^st biggest crypto by market cap but at this rate, it would take $0.8 billion to flip the FTX token and breach the top 20.

As recently reported, We just started the second quarter of 2021 and we already saw a record-breaking year for Cosmos. Its expanding network of blockchains built with the environmentally friendly Proof of Stake Cosmos SDK technology comprises more than 240 apps and services that have about $100 billion of assets under management. Cosmos includes powerhouses like Terra, Crypto.com, Binance Coin, Cosmos Hub, and others. It’s an ecosystem that looks set to expand thanks to the stargate upgrade which helps developers built energy-efficient blockchains with the highly anticipated Inter-blockchain Communication protocol.

The next step for Cosmos is its quest for a multichain future and bringing Defi to Cosmos by using Gravity as an inevitable force. With the combination of the most advanced Interchain DEX, Gravity is built by Tendermint and the B-Harvest Team as well as a secure decentralized bridge to Ethereum by Althea Network.

Source: https://www.dcforecasts.com/cosmos-news/cosmos-reaches-new-all-time-high-despite-static-crypto-market/