The market capitalization of the ATOM cryptocurrency has surpassed $ 9.1 billion after the price has risen to an all-time high of $ 44.7. Other major cryptocurrencies have been in the “red zone” for the last 24 hours.
According to CoinMarketCap, over the past 24 hours, most of the top 20 crypto assets by market capitalization have lost between 4% and 12% in value. However, this did not stop the Cosmos cryptocurrency (ATOM) – in 24 hours its price increased by 6%, and in a week it grew by more than 28%. As of the morning of September 20, ATOM is trading at $ 41.58, showing a slight decline from its all-time high of $ 44.7 over the past 24 hours.
Cosmos is a decentralized network that connects independent blockchains to enable interoperability between them. The network operates on the Tendermint consensus algorithm, and the developers position it as “internet blockchains”. On August 18, Cosmos’ price jumped 25% from $ 15 to $ 20 following the launch of a DeFi gateway called Emeris.
In late August, the Cosmos developers launched a bridge to the Ethereum network. The integration of Sifchain, a decentralized exchange (DEX) on Cosmos, with the IBC blockchain interoperability protocol allowed for the first time trade transactions between the Cosmos and Ethereum networks. According to CoinMarketCap, a sharp rise in the price of a cryptoasset has helped Cosmos rank 20th in the top 20 largest cryptocurrencies by market capitalization.