Despite today’s bullish action, ATOM still trades 74% down from its all-time high of $44.70 recorded in September 2021.
There has been a spike in the coin’s trading volume across different exchanges. Its total trading volume hovers around $327 million over the past 24 hours, 11% up from the previous trading day.
Cosmos is a decentralized network of independent parallel blockchains each powered by Byzantine Fault Tolerance (BFT) consensus algorithms. It also allows developers to develop their own blockchains and allows all Cosmos-based blockchains to interact with one another.
Some of the more popular blockchains within the Cosmos ecosystem are Thorchain, Kadena, and, perhaps less so these days, Terra.
How many Cosmos networks exist?
There are a total of 49 tokens operating in the Cosmos ecosystem and 28 InterBlockchain Communication (IBC) enabled blockchains deployed as well.
A total of 265 apps and services support the cosmos ecosystem including blockchains, wallets, and explorers, according to data from Cosmos.
The total value locked (TVL) in Cronos, the largest protocol by TVL in the ecosystem, increased by 2.16% to $2.32 billion over the past 24 hours, according to DefiLlama.