THELOGICALINDIAN - The selfstyled Internet of blockchains is the latest Layer 1 activity to annals cogent gains
Cosmos jumped 25% Monday night as the protocol’s ATOM badge approaches its best aerial set beforehand this year in May.
Cosmos Aims for the Stars
Cosmos is the latest band 1 blockchain to rally.
The project’s ATOM badge rose over 25% Monday night, continuing its advancement aisle from a July reversal. ATOM is currently trading at $25.72 and is bound abutting its best aerial of $31.70 accomplished in May.
Cosmos is aiming to actualize an interoperable arrangement of blockchains that can acquaint with anniversary added in a decentralized way. It is one of abounding projects which is acquisitive to break the blockchain trilemma, accomplishing decentralization, scalability, and aegis after compromising any of the three factors.
Cosmos is not the alone band 1 to assemblage from July lows. Solana has fabricated a big move this week, breaking past its antecedent best aerial of $56.20 in mid-August. Since then, Solana has connected to assemblage and is currently trading at $118.50.
Several added band 1s such as Avalanche, Cardano, and Fantom accept additionally put in abiding assets afterward bullish catalysts in what some accept dubbed “Layer 1 season.”
High gas fees on Ethereum accept affected abounding users to seek out alternatives for accepted activities such as crop agriculture and NFT minting. Cosmos provides low transaction fees and near-instant confirmation, authoritative it an adorable arrangement for assorted DeFi applications.
Disclaimer: At the time of autograph this feature, the columnist endemic BTC, ETH, and several added cryptocurrencies.
