Over the weekend, there wasn’t much excitement in the market but Cosmos ($ATOM) saved the situation. ATOM has crossed a new All Time High and was trading above $40. The cryptocurrency markets have been ranging between the 46-48k levels and only a few coins have been able to add gains.
Cosmos crossed a new ATH of $40 yesterday and seems not to be resting on the uptrend which took off since about last month. It is up $20 from its price last month and currently trading above $42 at the time of writing. Analysts suggest it has been on a ranging and accumulation period for about 850 days before it broke out and rallied aggressively.
The Whole Cosmos Ecosystem is on a Uptrend
However, ATOM is leading the party but other coins in the ecosystem aren’t left out. Osmosis, the native token of a DeFi protocol built on the Cosmos ecosystem, has crossed new ATH as well. Yesterday, OSMO was trading above $7 at a new ATH of 7.32. It is currently trading slightly above $7. About 5 times the price it was trading a month ago.
Sentinel, the token of the decentralized VPN, is another token that is following ATOM’s lead in the run. It is currently trading at $0.04749, close to the All time price of 0.04827.
Lastly, AKT, the utility token of the Akash network has performed impressively with over a 2x in its price about a month ago.
Cosmos is the 21st largest cryptocurrency according to the ranking by market capitalization. It is often described as the “internet of blockchains” by its developers. Cosmos aims to solve the major problems of other blockchains such as scalability, slow rate of transactions and gas fees by providing an ecosystem of connected blockchains. The Cosmos ecosystem is definitely one to look into.