Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery

The crypto market is showing signs of recovery, and it seems Cosmos has also been pulled in the same direction with an increase of 12% in the last 24 hours. Cosmos (ATOM), the 27th biggest cryptocurrency, has a total market cap of $3.2 billion. ATOM, the token that fuels the Cosmos blockchain network, has been gaining a lot of traction with an increase of over 12.7% overnight. Currently, ATOM is trading at the price point of $11.45. Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues ATOM Remains In Bear Territory Even though the charts have been looking bullish, ATOM is still at a bearish stance with trades that plummeted by 74% compared to its all-time high record of $44.70 in September 2021. There has been a noticeable spike in ATOM’s trading volume that is evident in multiple exchanges. The total trading volume is at roughly $327 million in the past 24 hours, which is up by 11% in comparison to the previous day. What Is Cosmos? Cosmos refers to a decentralized network of blockchains that runs using the power of Byzantine Fault Tolerance (BFT) algorithms. More so, Cosmos also enables developers to create and innovate their own blockchains plus allows Blockchains that run on Cosmos to freely interact or engage with one another. Some of the major blockchains that run in the Cosmos are the Terra, Kadena, and Thorchain. Developer Incentives Following Terra’s Demise Injective, a decentralized ...