Cosmos ATOM / USD price is slowly rising after it fell on Tuesday. In fact, it is up more than 4%. It raised its value to $ 11.72, which is higher than its previous low of $ 11.24.
ATOM is also roughly 63% lower than its all-time highest value, bringing the total market capitalization to over $ 2 billion. It is also the 41st largest cryptocurrency in the world in terms of market capitalization.
Integration of the band protocol as a catalyst for the growth of ATOM
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Cosmos is a project that fosters an ecosystem of networks that have the opportunity to share data as well as their tokens in a programmatic way, without any central part that facilitates the activity.
Each new independent blockchain is called a zone. This area is linked to the Cosmos Hub, a center that maintains a state registry. The network has a trading volume of more than $ 177 million per 24-hour interval.
The ATOM token plays a key role when it comes to maintaining interoperability between zones. In addition, it can also be used to spend, send, bet or hold.
ATOM may be more valuable the more blockchains are added within the network that Cosmos Hub relies on when it comes to maintaining transaction histories. ATOM holders also vote on network updates, where each vote is proportional to ATOM wagered.
On July 22, the DeFi Oracle Band Protocol was integrated into Cosmos with the intention of driving interoperability within the ecosystem. With this integration of Band Protocol in Starport, along with the Cosmos blockchain development tool, any new chain that is created has the ability to exchange feeds of different types of data through the use of an oracle, as well as the interoperability standard. of Cosmos known as Inter-Blockchain communication protocol. (IBC).
This integration will increase demand for the ATOM token, which in turn should increase its circulating supply and value. This is evident in its recent 4% price increase.
Should you buy Cosmos (ATOM)?
On July 28, Cosmos (ATOM) was worth $ 11.72. Its all-time highest value was $ 31.70 on May 7.
To better understand how its value has changed recently, we will analyze June. ATOM peaked on June 3 at $ 16.78. This was followed by a fall on June 22 to $ 8.08.
This means that in the course of that month, the value varied by around 51%. The July 28 value also places it 63% below its all-time high and 47% below June’s highest value point.
This indicates a large window for growth, as the implementation of the Band Protocol has sparked genuine interest in the network, on which many blockchains can be built. With this being the case, by the end of August we can expect the value of ATOM to rise to the $ 15 price range, making it worth buying.
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