Home News Cosmos token price is near a new all-time high

Cosmos token price is near a new all-time high

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The price of the Cosmos project ATOM token at the moment exceeded the $42 mark. Over the past day, the coin has risen by 16.7%, on Friday, January 7, according to CoinGecko.

Contrary to the market, the key tokens of the ecosystem also showed a noticeable growth. ATOM quotes have come close to the historical maximum. At the time of writing, the price has adjusted to the area of $43.03 (TradingView).

Over the past 24 hours, the price of the native token of the Osmosis decentralized finance (DeFi) platform (OSMO) has increased by 14.4%. Earlier, the volume of liquidity in the ecosystem reached $1 billion. The integration of Osmosis with the Terra Bridge and the high profitability of pools facilitated this. At the time of writing Osmosis takes 12th place by total value locked (TVL) in the DeFi Llama rating.

Bitcoin price dropped below $43K, pulling the rest of the market with it

The Secret project token (SCRT) showed an increase of 16.6% (up to $ 6.7) per day; the Akash Network platform (AKT) by 18.6%. Starname (IOV) and Sentinel (DVPN) have high rates, 38.4%, and 29.5%, respectively.

Previously, Bitcoin updated the local minimum at around $42,600; pulling the rest of the market with it. On January 6, all digital assets from the top 10 by market capitalization were in the red zone.

Furthermore, the collapse occurred after the Fed announced its readiness to raise the benchmark interest rate at an earlier date and faster than expected. Together with this, there was a decrease in the hashrate of the first cryptocurrency network due to the internet shutdown in Kazakhstan.

Sagan blockchain

Recall that in October 2021, the Cosmos team announced an experimental Sagan blockchain designed to test new protocols before launching them on the main network.

At the end of the Cosmos video presentation, a quote from the famous American astronomer Carl Sagan appears, as well as an image of a canary. The latter symbolizes the Canary Network – an experimental network by analogy with Kusama from Polkadot.

There is a difference between testnets and canary networks, such as Kusama and Sagan. Because testnet tokens typically have no monetary value; they replicate the technical side of the main blockchain but not its actual environment. Tokens on canary networks, on the other hand, have real value and thus come much closer to mimicking the real world. This increases the incentive for people to discover bugs and potential exploits.

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