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ATOM Price Prediction as the Cosmos Ecosystem Expands

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ATOM’s price rose slightly as investors focused on its growing ecosystem and market share in the blockchain industry. Cosmos hit a high of $11.76, around 14% above the low level this week. It has a market cap of over $3.4 billion, making it the 24th largest cryptocurrency in the world.

Expansion of the Cosmos ecosystem

Cosmos is a prominent blockchain project that plays an important role in the blockchain industry. It is an ever-expanding ecosystem of interconnected applications and services. According to its website, there are 262 apps and services in the ecosystem that manage digital assets worth over $62 billion.

Cosmos SDK is another product in its ecosystem. It is a leading platform that rivals Ethereum in that it helps developers build decentralized applications (dApps).

Some of the most notable apps in the Cosmos ecosystem are ThorChain, Cronos, Osmosis, and Ankr. ThorChain is a leading cross-chain liquidity network with 95 active nodes and a total locked value of over $297 million.

Cronos, formerly known as Crypto.com Chain, is a leading smart contract platform that has a TVL of over $901 million. Some of the biggest Cronos apps are Tectonic and VVS Finance, among others.

The Ankr protocol is another major application in the Cosmos ecosystem. It is an infrastructure project that handles over 7.2 billion daily API requests. The platform supports popular chains such as Polygon, Binance, Optimism, and Avalanche, among others.

Other popular applications integrated with Cosmos are Injective Protocol, Juno Protocol, Mirror Protocol, OkExChain, and Pocket Network among others. Its ecosystem is set to expand following the upcoming launch of the dYdX channel.

Another possible reason for the ATOM prize is its high staking rewards. According to StakingRewards. ATOM has a yield of 17.88%. The staking market capitalization reached over $2.3 billion while the number of stakingrs increased to over 142,773 from less than 50,000 at the start of the month.

ATOM Price Prediction

Cosmos price has made some modest gains over the past few days. It has formed an ascending channel which is shown in green. The coin moved slightly above the 25- and 50-day moving averages, while the Relative Strength Index (RSI) moved above the neutral point at 50.

ATOM price is likely to continue higher as bulls target the next key resistance level at $13.26, which was the high point on August 25th. A drop below the support at $10 will invalidate the bullish view.

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