Could Cosmos (ATOM) Be Set For Growth in 2022?

February 15, 2022 9:35 am Comments

Coin Bureau, a popular crypto and market commentary online show, recently introduced Cosmos (ATOM) which is a blockchain that is essentially an ecosystem of networks and tools that can be used to create interoperable blockchains.

This is a focus that is unique from other blockchains as Cosmos specializes in the communication of blockchains both inside and outside of its ecosystem.

The host of the show stated that he was optimistic about the outlook of Cosmos as the project has continued to get new upgrades and developments that have not really been noticed by the mainstream public.

So far, Cosmos is ranked 22nd on Coinmarktcap and has a total market capitalization of around $7.5 billion making it quite an impressive contender provided that the blockchain was unknown for the most past just a few years ago.

CryptoGlobe reports:

Speaking in a recent YouTube video, Coin Bureau’s host “Guy” said he was bullish on Cosmos, predicting it would have a big year. As reported by The Daily Hodl, Guy said:

“For what it’s worth, I’m confident that Cosmos will find a way to add value to ATOM both inside and outside of its ecosystem. From where I’m standing, it looks like it’s focused on exactly that, the Vega update for example. I truly believe that 2022 is going to be a big year for Cosmos so long as we don’t enter another crypto winter.“

With regard to the price of $ATOM (the native coin of Cosmos), which is currently (as of 8:45 a.m. UTC on February 13) trading around $27.28, he said:

“Cosmos’ announcements, upgrades and developments have taken ATOM on a tear, but it’s only up about 50% since I last covered the project in September.

“Besides the general weakness we’ve seen in the crypto market since December, ATOM has tried and failed to claim the $45 mark three times over the last few months. Unfortunately, this means that it’s likely to see a lot of resistance if and when it approaches those levels again…

The growth of Cosmos in the past and why it may continue to grow this year could be attributed to Cosmos’s big bet on network development.

Cosmos’s planned network development has already attracted a lot of investor attention such as it being able to integrate with Bitcoin last year by introducing IBC compatibility to interBTC.

With such an integration, it would expand the number of networks that Cosmos is compatible with and therefore increase the number of use cases that Cosmos can handle which makes the Cosmos ecosystem that much more valuable.

Continued development would put Cosmos as a top contender in the DeFi space.

Cosmos has also started  getting involved in NFTs and setting up additional testnets with other blockchain networks.

Finbold reports:

At the same time, the protocol announced several of the latest testnets and incentivized testnets coming to Cosmos in H1, 2022.

Some of the testnets include incentivized smart contracts platform Archway and modular blockchain network Celestia.

Furthermore, the company currently hosts several non-fungible token projects that are expected to be utilized in the course of 2022.

Cosmos has acknowledged that NFTs are going mainstream amid an increasing appetite from consumers.

The platform also expects to host several airdrops on NFTs, decentralized social media, DeFi and gaming.

Elsewhere, the demand and adoption of Cosmos has been linked to other developments like the rollout of Evmos, an application-agnostic chain connected to crypto.

The protocol enables Ethereum-based assets and projects to move between the Cosmos architecture easily.

If we focus purely from a network development perspective, its clear that Cosmos has a lot going for it for the year of 2022.

Investors will likely continue to wait to see if the continued development will actually bring tangible benefits to the value of the network once the projects launch this year.

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