Why Cosmos Is Going To Explode In 2023

Learn why Cosmos is rising higher today, making ATOM a good buy now.

Last Updated January 5th 2023

6 Min Read

The crypto market boomed tremendously in 2021, with a rising interest in blockchain-based applications and services. However, for the crypto industry to achieve its full potential, blockchains must require interoperability. Cosmos (ATOM) is one of the top cryptocurrencies created to tackle this issue and recently gained massive traction amongst investors. Let us see why Cosmos is going to explode in 2023.

Cosmos is one of the biggest beneficiaries of the quest to find a more welcoming smart contract environment. It is an advanced blockchain project solely focused on interoperability. Thanks to its Inter-Blockchain Communication (IBC) protocol, the network is popularly known as the “internet of blockchains.”

Looking At 2023: Is Cosmos Price Set For A Massive Year?

A lot is going in the Cosmos ecosystem, making ATOM one of the best cryptocurrencies to buy now.

Until the creation of Cosmos, each blockchain was isolated and could not interact with other bullish on-chain metrics. But Cosmos came in as an ecosystem made up of blockchains that can seamlessly interact with each other.

From the expansion of its DeFi capabilities to several new projects, various factors have pushed the value of ATOM higher, which is why experts predict that Cosmos will explode in 2023. Let us take a deeper dig into some of the significant factors.

#1: ATOM’s Tremendous Rally

ATOM, the native token of the Cosmos blockchain, had a bullish run over the last months of 2021 for several fundamental reasons. Cosmos was never directly connected to Bitcoin, nor was it the most sought-after crypto. Nevertheless, it has been on the watchlist of several investors since the beginning of 2021.

A key reason for this is because the network focuses on offering a solution to slow, expensive, unscalable, and environmentally harmful Proof-of-Work protocol. Moreover, it aims to create a blockchain technology that is less complex and more seamless for developers.

Thanks to a series of developments in its blockchain, ATOM hit an all-time high of $44.70 on September 20, 2021. However, the cryptocurrency still has room for growth and is expected to skyrocket by year-end.

#2: Significant Features Of Cosmos Blockchain

The Cosmos network has several significant features that make it unique from its competitors. First, scalability is an essential feature of any cryptocurrency project. Cosmos offers high scalability by using other compatible networks connected through zones.

Apart from this, Cosmos successfully solves the interoperability challenge for digital assets. Thanks to its Inter-Blockchain Communication protocol, users can exchange assets from one blockchain to another. Cosmos also offers advanced tools for developers to build their own blockchain applications on the Cosmos network seamlessly.

Therefore, Cosmos is specifically built to be scalable and processes transactions quickly at a cheaper rate. According to the team, each transaction on the network costs $0.01.

#3: Why Cosmos Is Going To Explode? Expert Predictions

According to predictions, Cosmos is expected to rise even higher in the coming years, making ATOM a good buy now.

Coinpedia:

“According to prediction, the coin could reach $50 before the end of 2023. They go on to say ATOM-USD will likely reach $40 by the end of 2023 and $63 to $67 by 2025.”

Wallet Investor:

“Wallet Investors has a one-year forecast of $59.93 and a five-year forecast of $186.21 for Cosmos.”

#4: The Cosmos Ecosystem

The Cosmos ecosystem is rapidly growing and is now worth over $65 billion. The ecosystem includes Cosmos Hub, Binance Chain, Terra, Crypto.com, THORChain, and several big projects. The Cosmos network currently has over 250 apps and services running on it, with more than $112 billion in digital assets under management.

Moreover, the DEX ecosystem within Cosmos is growing at a rapid pace today. Currently, there’s access to several new and promising tokens, permissionless token listings, opportunities for generating higher ROI by participating in liquidity pools, and higher liquidity for smooth trading and price stability.

Check Out: What Might Happen If You Invest $100 In Cosmos ATOM Today?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Significant Updates And Developments

Thanks to its incredible DeFi capabilities and significant updates, ATOM could be a good buy now.

The Cosmos network has had several developments and updates in its network in 2023, making the network more efficient. Some of them include:

Expanding DeFi Capabilities

A key reason for the significant rise in the price of ATOM recently is its expanding DeFi capabilities. Gravity DEX has been marked as the biggest step forward for Cosmos to date. With the protocol being live, Cosmos has become the future face of multiple interconnected blockchains.

The update has unlocked various levels of utility for the Cosmos hub and has encouraged new chains to trade and create liquidity. It has also enabled more traders to start arbitraging and helped developers in discovering a new way of listing their tokens in a permissionless manner.

Moreover, Gravity DEX is considered one of the safest protocols within the Cosmos ecosystem. It is secured by over $10 billion in ATOM token liquidity to support the network. In addition, it has undergone two successful Cosmos SDK Liquidity Module Reviews from blockchain technology firms to ensure complete security. These include a Security Audit by Least Authority and a Code Review by Simply VC. However, Gravity DEX would democratize DeFi by significantly lowering transaction fees and ensuring that trading is accessible to everyone. This will further drive the adoption rate of the Cosmos network, eventually pushing ATOM’s value even higher.

Emeris - A One-Stop Portal For All Crypto Apps

With the launch of the beta version of Emeris, ATOM has seen a significant rise in its price and interest. In addition, thanks to the support from the Gravity DEX protocol, users can now experience cross-chain DeFi for the first time using Emeris.

Emeris plans to expand its accessibility to decentralized applications built on various blockchains within a single easy-to-use interface. It is also the first functioning user interface for DeFi on Cosmos. This has significantly driven the value and demand of ATOM, making Cosmos a good investment now.

Introduction Of Wrapped Bitcoin To Cosmos

Yet another reason for the current bullish momentum of ATOM is the recent announcement of the Interchain Foundation (IFC), an organization that funds development grants in the Cosmos ecosystem. It has recently been granted funding for bringing Bitcoin to the Cosmos network.

Bitcoin has always been the undeniable leader of the crypto market. Therefore, its ability to operate on Cosmos has the potential to bring new users to the network. As a result, the network would eventually see more adoption, driving the price of ATOM to explode by the end of 2023.

Gravity Bridge - The Ethereum Bridge Opening Up Myriads Of Opportunities

The Cosmos developers launched a bridge to the Ethereum network earlier this year, making the project the first decentralized exchange to enable trades. In addition, the integration of Sifchain, a decentralized exchange (DEX) on the Cosmos network, with the Inter-Blockchain Communication (IBC) protocol, has opened up an array of opportunities for traders to conduct seamless transactions between both the networks.

Why Is Cosmos Going To Explode This Year?

Cosmos is one of the top DeFi cryptocurrencies with tremendous potential for future growth, making ATOM a good buy now.

There is no doubt that Cosmos is a promising project and has plenty of room for growth. Several high-profile teams are involved in the development of the Cosmos network. Some of the biggest names include Interchain Foundation (an NGO that funds open-source blockchain projects) and the Tendermint team.

Moreover, with the Gravity DEX protocol being live and the launch of Emeris beta, Cosmos is poised to become one of the leading cryptocurrencies in the DeFi space today. Therefore, if you have been waiting to buy ATOM, this is the right time to do so.

The Bottom Line

Thanks to its dedicated management team, a clear roadmap, and capability to tackle a crucial issue in the blockchain space, Cosmos establishes strong fundamentals. This is one of the many reasons ATOM could explode by the end of 2023, making it a good buy now.