The Cosmos Price has been stable lately as investors remain confident with its ecosystem. The ATOM token is trading at $28.40, 38% below its highest for the past few days, although it beats most coins.
Cosmos ecosystem growth
Cosmos has exclusive features that utilize the Inter Blockchain Communication (IBC) technology to aid in creating an interconnected ecosystem of apps.
This feature is advantageous as most cryptos are siloed and thus unable to communicate. More than 260 cryptocurrencies have adopted this advancement like Ankr, Binance Smart Chain, Crypto.com, and Decimal.
Moreover, Cosmos offers an SDK platform that enables developers to create quality decentralized applications and organizations. The leading platform is Tera, whose LUNA is now the 8th biggest crypto globally.
Furthermore, Cosmos enabled the creation of Osmosis, a DeFi platform with billions in Total Value Locked (TVL). More are to be launched this year, like the Archway, an incentivized smart contract platform that offers CosmWasm.
The Cosmos Hub also runs testnets for other highly awaited projects like the Celestia, Tgrade, and Umee. Umee offers decentralized infrastructures for cross-chain integration, while Tgrade is the first regulated DeFi platform. Hence the Cosmos Price may improve this year with the ecosystem growth.
Meanwhile, the ATOM price has been stable due to Gravity Bridge launched a few months ago. So far, the network grew to one of the most popular Cosmos Chains, adopted by Cosmos NFT platform and launched initial ATOM airdrops.
Cosmos price prediction
The daily chart indicates the ATOM price being in a tight range for the past few days. The Coin eventually moved below the $45 key resistance level, its highest in 2021 and 2022. It went up above the ascending trendline shown in blue and dropped below the 25-day and 50-day moving averages.
Therefore, the Cosmos price may bounce back, meaning the next key watch level will be $45.
