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What Is the Cosmos Price Prediction Today
AT A GLANCE
- In 2024, Cosmos price is expected to reach $12.116172319838238, according to some experts
- 2025 promises to be turbulent, with prices ranging from $2.7619661632319428 to $14.856819704794807, with PricePrediction.net predicting a breakthrough leading to a price rise to $14.856819704794807
- By 2030, ATOM price can hit $12.116172319838238
Cosmos Fundamental Analysis
The Cosmos Network is a revolutionary project in the cryptocurrency realm designed to address one of the most pressing issues in the industry: interoperability. Often dubbed the "Internet of Blockchains," Cosmos aims to create an interconnected ecosystem of blockchains that can communicate with each other in a seamless and scalable manner.
Founding and Founders
Jae Kwon and Ethan Buchman co-founded Cosmos. Jae Kwon, a software engineer with a background in distributed systems, previously worked on various tech projects before co-founding Cosmos. Ethan Buchman, a physicist-turned-software developer, brought his expertise in scientific computing and blockchain to the project.
- Jae Kwon: Co-founder and former CEO of Tendermint Inc., the company behind the development of Cosmos.
- Ethan Buchman: Co-founder and CTO of Tendermint Inc.
The project officially launched in 2017 with the release of the Cosmos whitepaper. In 2019, the Cosmos mainnet went live, marking a significant milestone in the project's development.
Vision and mission
Cosmos aims to create a decentralized network of independent, scalable, and interoperable blockchains. Its mission is to solve the fragmentation issue of many blockchains by enabling different blockchains to communicate and transact with each other. This vision is encapsulated in the term "Internet of Blockchains," highlighting Cosmos' goal of creating a unified ecosystem where various blockchains can operate cohesively.
Cosmos Hub
The Cosmos Hub is the first blockchain launched in the Cosmos Network and serves as the central hub connecting various independent blockchains (zones) within the Cosmos ecosystem. It plays a critical role in facilitating communication and token transfers between different blockchains.
- Central Role: As the central hub, it ensures that different blockchains can interoperate and exchange value without the need for complex bridging mechanisms.
- Security: The Cosmos Hub is secured by a network of validators who participate in the consensus process by staking ATOM tokens. Validators are responsible for verifying transactions and maintaining the integrity of the blockchain.
- Interchain Services: The Cosmos Hub provides various interchain services, such as a decentralized exchange (DEX) and cross-chain staking, enabling a more integrated and functional blockchain ecosystem.
- ATOM Token: The native token of the Cosmos Hub, ATOM, is used for staking, governance, and transaction fees. Staking ATOM tokens helps secure the network and allows participants to earn rewards.
- Upgrades and Governance: The Cosmos Hub is governed by ATOM holders who can vote on proposals for protocol upgrades and other critical decisions. This decentralized governance model ensures that the network evolves in a way that benefits the community.
Technology behind cosmos
The technology stack of Cosmos is built on three core components: Tendermint Core, the Cosmos SDK, and the Inter-Blockchain Communication (IBC) protocol.
- Tendermint Core: A Byzantine Fault Tolerant (BFT) consensus engine that ensures the security and reliability of the Cosmos Network. It allows developers to create blockchain applications without writing their consensus algorithms.
- Cosmos SDK: A modular framework for building blockchains. It simplifies the process of creating custom blockchains by providing a set of pre-built modules, enabling developers to focus on the application logic rather than the underlying infrastructure.
- Inter-Blockchain Communication (IBC) Protocol: A protocol that enables different blockchains within the Cosmos ecosystem to communicate. IBC allows the transfer of tokens and data between heterogeneous blockchains, fostering interoperability.
Launching an application on Cosmos involves several key steps, leveraging the robust tools and frameworks provided by the Cosmos ecosystem.
- Define Your Blockchain: Use the Cosmos SDK to define the specific functionality of your blockchain. This involves selecting the appropriate modules (e.g., staking, governance) and configuring them to meet your application's needs.
- Develop the Application Logic: Write the custom application logic for your blockchain. The Cosmos SDK allows you to build on top of its existing modules, providing a flexible and extensible framework.
- Integrate Tendermint Core: Integrate Tendermint Core to handle consensus and networking. Tendermint Core ensures your blockchain can achieve high performance and security.
- Test Your Blockchain: Thoroughly test your blockchain in a development environment. This includes running simulations, conducting stress tests, and ensuring all functionality works as expected.
- Deploy and Launch: Once testing is complete, deploy your blockchain to the mainnet. This involves setting up validators, initializing the network, and monitoring the deployment to ensure smooth operation.
- Enable Interoperability: Use the IBC protocol to enable interoperability with other blockchains in the Cosmos ecosystem. This allows your application to interact with and benefit from the broader Cosmos network.
Tokenomics
The native token of the Cosmos Network is ATOM. It serves several key functions within the ecosystem:
- Staking: ATOM holders can stake their tokens to secure the network and earn rewards. Validators are chosen based on the amount of ATOM staked.
- Governance: ATOM holders have voting rights on important network proposals, such as protocol upgrades and changes to the governance structure.
- Transaction Fees: ATOM is used to pay for transaction fees within the network.
The initial distribution of ATOM tokens occurred through a fundraiser in 2017, followed by subsequent network rewards distributed to stakers. The ICO raised $16.8 billion. The initial ATOM token supply was 236,198,958. The total ATOM supply is 390,930,671, with all the tokens in the current circulation as of the time of writing on July 9, 2024.
The tokens were distributed in the following way:
- 67,9% - went to the public contributors;
- 10% were sent to Bits Inc;
- 10% was dedicated to ICF;
- 7,1% went to the contributors and early adopters;
- 5% were allocated to seed contributors.
Ecosystem
The Cosmos ecosystem is diverse and continually expanding. Some of the notable projects and applications include:
- Binance Chain: Binance's decentralized exchange (DEX) platform is built on the Cosmos SDK.
- Kava: A decentralized finance (DeFi) platform offering collateralized loans and stablecoins.
- IRISnet: A blockchain designed for building cross-chain applications.
Partnerships and collaborations play a crucial role in the growth of the Cosmos ecosystem, enhancing its interoperability and reach.
The Cosmos ecosystem has been continuously growing over the years. Aside from the Cosmos Hub, several notable blockchain projects are part of the network:
- Cronos: An EVM-compatible blockchain built on the Cosmos SDK, which allows for the rapid porting of apps and smart contracts from Ethereum and other EVM-compatible chains.
- Celestia: The world’s first modular data availability blockchain network, designed to handle data availability for other blockchains in a scalable manner.
- Injective: A Layer-1 blockchain network custom-built to support the next generation of decentralized finance (DeFi) applications, offering high-speed trading and cross-chain derivatives.
- THORChain: A decentralized cross-chain liquidity protocol enabling users to swap assets between different blockchain networks seamlessly.
- Nomic: A Layer-1 blockchain that offers a decentralized, non-custodial Bitcoin bridge to Cosmos, allowing users to convert their native BTC into nBTC (IBC-compatible token).
Advantages and use cases
Cosmos offers several advantages that make it an attractive option for developers and users alike:
- Scalability: The modular architecture of Cosmos allows for high scalability, enabling the network to handle a large number of transactions.
- Interoperability: The IBC protocol facilitates seamless communication between different blockchains, promoting a more interconnected blockchain ecosystem.
- Flexibility: The Cosmos SDK allows developers to create custom blockchains tailored to specific use cases.
Real-world applications of Cosmos include decentralized exchanges, DeFi platforms, and cross-chain token transfers, demonstrating its versatility and utility.
Challenges and Future Outlook
While Cosmos has made significant strides, it faces several challenges:
- Competition: Other interoperability-focused projects, such as Polkadot and Avalanche, present competition in the community.
- Adoption: One of the primary challenges for Cosmos is driving the widespread adoption of its IBC protocol and Cosmos SDK. Although these tools offer significant benefits in terms of interoperability and scalability, convincing developers and businesses to adopt them over other established technologies can be difficult.
Looking ahead, Cosmos plans to continue enhancing its technology and expanding its ecosystem. Key developments include improvements to the IBC protocol and the introduction of new modules to the Cosmos SDK.
Cosmos Live Price Chart
By January 7 the Cosmos network price chart dropped to $9.8, and the next day even lower to $9.4, but then got a chance to regain some of the losses. So by January 12, the ATOM token value was at $10.67, but then it went down again.
By February 5 the ATOM price chart hit $8.9, becoming the bottom-level price for that period, and from there the Cosmos network native token price dropped further. In the next 2 weeks, the value of the ATOM token reached $10.75.
By March 7 the value of Cosmos reached $14.2, but then collapsed and kept declining till March 20 when to swap ATOM traders paid only $10.88. During the next week, the token value recovered, reaching $12.53 by March 30, but not able to sustain this price level as well, the price dropped to $10.91 by April 5.
From this point, the price recovered and the value of the Cosmos network native token reached $11.31 by April 9. After this milestone, the situation changed drastically with the ATOM token price dropping to $8.0 on April 14. For the next 1.5 months, the price of the Cosmos network native token stayed around the support level of $8.3, bouncing up to $9.3 and coming back to around $8.2.
From June 7 the ATOM price chart broke the support level and established quite a strong downtrend, moving along with the whole crypto market that was mainly showing the downwards tendencies. By June 19 the price of ATOM dropped to $6.8 and stayed around this level till the very beginning of July. However, after July 2, the ATOM price chart dropped much lower to $5.7, where it stayed till the time of writing on July 9.
According to the market indicators and the current state of the crypto market, there is a big chance for the Cosmos network native token to recover its value and grow a little bit. However, as the crypto market still stays rather bearish the ATOM token price recovery might take some time.
Cosmos Technical Analysis
Cosmos crypto price has dipped just below $30 in late September in the middle of its latest bull run. This point might become a new support line, as we see a short-term (as of yet) trend reversal, which may last for a while, although now it remains to be seen. ATOM price action from September 12 until the end of the month may be interpreted as a head and shoulders pattern, which is indeed worrying.
On the other hand, the developments since the latest dip still look like a flag pattern, in which case there might be a bright future ahead for Cosmos. The experts making Cosmos (ATOM) future predictions mostly seem to support this opinion, as their future estimates remain optimistic.
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Summary
As it can be clear from the analysis cited above, Cosmos (ATOM) projections are rather contradictory. There is no universal consensus either about positive or negative future ATOM price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Cosmos projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
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