As the crypto market continues to fall into the red, Cosmos (ATOM) crypto, which is still in its early stages, is defying the trend and rallying ahead.
ATOM was worth $44.38 at the time of writing, up by $8.09 from yesterday or 22.30 percent on a 24-hour trading volume of 2,891,775,232. It was launched in March 2019 and has risen nearly 1,200 percent in less than three years and built a market capitalization of $10.04 billion, starting at $3.4.
The most significant factor that has increased ATOM valuation is the release of Evmos, an EVM-compatible protocol that will allow assets and projects that currently operate on the Ethereum network to migrate to the Cosmos ecosystem.
It also intends to upgrade Theta, which will enable Meta-transactions, NFT modules, Interchain accounts, Liquid staking, a CosWASM instance on the Hub, and Gravity Bridge upgrades.
What is ATOM crypto?
Cosmos (ATOM) aims to provide a network of interconnected blockchains. It also seeks to reduce the complexity of blockchain technology and make it easier for developers to use through the use of a modular framework that demystifies decentralized apps.
Crypto market performance
Major cryptos, on the other hand, are once again falling today. Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB), and Solana (SOL) were trading 1.49 percent, 3.79 percent, 0.02 percent, 2.4 percent, and 5.9 percent, respectively, at 10:41 AM UTC.
Meanwhile, meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) were worth $0.15 and $0.00, respectively, down 0.5 percent and 0.76 percent.
The cryptos Cardano, Hex, XRP, Polygon, and Binance USD were all in the green. The major Metaverse crypto Decentraland (MANA) continued its yesterday gain and was up 11.89% at the time of writing this article. With a $2.4 billion 24 hours trading value, it was trading at $3.1 and the market capitalization was worth $5.7 billion.