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Cryptocurrency : Why am I investing in Cosmos (ATOM) this week

Cosmos ATOM / USD was created with the intention of permitting the event of a community of cryptocurrency networks which can be linked by an open supply device to streamline your transactions.

On July 13, the federal government proposal for the adoption of the Gravity DEX protocol in Cosmos Hub was authorized. This brought about fairly a stir round Cosmos as followers have been inundated with their ATOM tokens.

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On July 19, Grayscale mentioned that that they had been contemplating working particular person trusts for DeFi tokens, certainly one of which is Cosmos (ATOM). This might result in a rise in using the token and as such enhance its demand and circulating provide, which may result in a excessive value.

On July 22 we noticed an announcement that The Band Oracle has built-in into Cosmos by means of Starport, resulting in additional realization of the web of blockchains.

With this implementation in Starport, the Cosmos blockchain growth device, newly created chains will be capable to change feeds of several types of knowledge by means of using an oracle, in addition to the Cosmos interoperability customary, the Communication Protocol. between blockchains (IBC). In different phrases, any developer constructing a string utilizing Starport can add an information question perform from an oracle.

Which means that we’ll see numerous exercise on the Cosmos blockchain in the longer term and because of this, the demand for ATOM tokens will enhance and we will anticipate a rise in their worth.

Do you have to make investments in Cosmos (ATOM)?

On July 22, ATOM was $ 11.

To get a perspective of how excessive the worth of the ATOM token has risen all through its historical past, we will have a look at its all-time highest worth of $ 31.70 which occurred on Could 7. This offers us perception into the utmost progress potential the token might have in the close to future.

That being the case, to have a extra practical picture, we’ll analyze the month of June.

ATOM noticed its highest level on June three with a worth of $ 16.46 and its lowest level on June 22 with a worth of $ 8.80.

This offers us a sign that the token might lower or enhance in worth to twice its unique worth. In different phrases, it’s now operating across the $ 9 to $ 11 mark, which implies it has the potential to double that in the close to future.

With its current integration by means of Starport, we’ll see many new developments round Cosmos and as such this will result in elevated exercise on the Cosmos Hub.

Actually, in the final 24 hours, you noticed a rise in your buying and selling quantity by 17%.

Taking a look at it from an optimistic viewpoint, on the $ 11 value level, ATOM is a worthwhile funding as it’s anticipated to rise to $ 15 in worth by the top of July.

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About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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