Cosmos (ATOM) cryptocurrency is becoming the backbone for interoperability between blockchains today. Thanks to its inter-blockchain communication (IBC) protocol, Cosmos has become the “internet of blockchains.” The price of ATOM saw a significant rise in the past year due to several reasons. Now let us see why Cosmos will skyrocket in 2023 and beyond.
Why Choose Cosmos?
Cosmos, the high-speed interoperability platform, has gained significant popularity recently, making ATOM a good buy now.
With solid fundamentals, significant updates, and a tremendous rally, Cosmos crypto has positioned itself as one of the top cryptocurrencies in the market today. Moreover, it is a platform that solves some of the most crucial and complex issues the blockchain space has faced for years. Precisely, Cosmos has successfully brought in a solution for slow, expensive, unscalable, and environmentally harmful Proof-of-Work protocol.
The network does this with its Tender Mint and unique Byzantine Fault Tolerance. Moreover, the project also aims to make blockchain technology less complex and challenging for developers. Its IBC protocol makes it easier for blockchain space to communicate efficiently and safeguards fragmentation in the industry.
Is ATOM Going To Skyrocket In 2023?
ATOM has seen a significant surge in price since early this year and is expected to rise even higher.
ATOM was on a bullish rally over the past year. It reached a new all-time high of $44 in September 2021, thanks to several significant updates in its protocol. There are over 250 apps and services running in the Cosmos network currently. Moreover, over $112 billion in digital assets are also under management.
Some of the popularly known projects that are built using Cosmos include Binance Chain (BNB), Terra (LUNA), and Crypto.com Coin (CRO).
Yet another reason why Cosmos will skyrocket is its IBC functionality. It has already caused a furore of activity on the blockchain, with the interchain protocol managing over 700,000 transfers. Apart from this, another reason for the recent spike in ATOM’s price is the integration of Sifchain with IBC. This also makes Cosmos the first decentralized exchange to facilitate trade between the Cosmos ecosystem and the Ethereum network.
Cosmos can leverage the fact that Ethereum hosts some of the best smart contract protocols for DeFi and NFT. The integration will eventually drive more users to the Cosmos ecosystem, pushing ATOM’s value even higher.
Check Out: Pros And Cons Of Investing In Cosmos (ATOM)
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Factors Driving Cosmos To Skyrocket
Thanks to significant partnerships and protocol updates in the Cosmos ecosystem, ATOM would again see a colossal rise in price in the coming years.
Apart from fundamental reasons, several other factors drive ATOM to skyrocket in 2023. Some of them include:
1. Partnership With Forte - A Blockchain Platform For Game
The announcement of the partnership with Forte by Tendermint, the software development company behind Cosmos, and the Interchain Foundation (ICF) has significantly pushed the value of ATOM higher recently. Forte is an organization that is building a blockchain platform for video games.
The partnership will eventually provide accessibility to blockchain gaming for all developers and gamers. Moreover, they can seamlessly integrate their gaming ecosystem with the Cosmos interoperable blockchain network.
The developers behind Cosmos will work with Forte to ensure that all third-party game developers on their platform will have access to Cosmos technology, boosting its adoption rate. Additionally, Forte will also add ATOM and other Cosmos-enabled currencies to its network, which would be used as payment, liquidity, or collateral for users. This will highly increase the utility of the ATOM token, increasing the investability quotient of Cosmos.
Peng Zhong, the CEO of Tendermint, said, “With almost three billion gamers around the world and immense interest surrounding NFTs, the partnership with Forte will help propel Cosmos to a wider audience and solidify our place as a leading blockchain ecosystem. We have already built the industry’s best tools for blockchain development like Cosmos SDK and Starport.”
2. Emeris - The First Functional User Interface For DeFi On Cosmos
Decentralized Finance (DeFi) has gained huge popularity in the blockchain ecosystem in the last couple of years. It has indeed revolutionized the traditional financial sectors and their ways. The launch of the first functional user interface for DeFi on Cosmos has significantly expanded its capabilities, making ATOM a good buy now.
Emeris was one of the highest price triggers for ATOM over last months of 2021. The introduction of an efficient cross-chain capability has gained the attention of several developers and investors, pushing the token’s value higher.
The new interface facilitates access to a range of DeFi cross-chain protocols on the Cosmos network for users. They can also trade several assets such as IRISnet (IRIS), Persistence (XPRT), and Akash Network (AKT) on blockchains.
3. The Introduction Of interBTC To Cosmos Ecosystem
Yet another reason for the current bullish momentum of ATOM stems from the announcement made by the interchain Foundation (IFC). The team has contributed to the Interlay Development Fund to introduce wrapped Bitcoin to the Cosmos network.
Interlay by using lock and hold technology allows users to secure their Bitcoin and mint highly secured interBTC. It aims to avail Bitcoin to all DeFi platforms and facilitate the use of BTC everywhere through Cosmos’s interoperability.
Since BTC is the undisputed crypto market leader, this move would attract several new users to the Cosmos network, boosting its adoption and popularity. Moreover, the integration will also allow BTC to be used in the Cosmos DeFi ecosystem and bring high liquidity along with an increased utility to the network.
Why Cosmos Will Skyrocket?: Expert Predictions
Predictions say that ATOM will significantly skyrocket in 2023, making it a potential long-term investment option.
Here are a few price forecasts for Cosmos by experts.
“If this bullish trend continues, ATOM will reach $90 by the end of 2023. Moreover, the first half of 2023 is going to show rapid growth, up to $95. Then the rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $90 is quite optimistic in the price point of view but undoubtedly feasible for the near future.”
“According to Redditors’ price predictions, the ATOM price is set to surpass the expectations in the upcoming years. By 2025, the Cosmos (ATOM) price will breach the mark of $60.082.”
Don't Miss: Cosmos Price Predictions
Should You Invest $1000 in Cosmos Right Now?
Being one of the active cryptocurrencies over the past few months, Cosmos seems to be a good buy now for future returns.
Cosmos is also described as the “Blockchain 3.0.” Along with efficient smart contract functionality, the network also offers a highly efficient, scalable, and secure system of transaction and trading with no intermediaries.
With the much-anticipated creation of the Ethereum bridge, the integration of Bitcoin, and the introduction of IBC on Cosmos hub, the scope of possibilities for this blockchain application keeps on expanding. Therefore, considering the token’s rally and the expansion of the Cosmos ecosystem, an investment of $1000 now in ATOM could likely double your money over the long run.
As more businesses started integrating blockchain into their process, the need for a platform that allows blockchains to connect with each other has become highly necessary now.
With an experienced team, a clear roadmap, potential use cases, and several coalitions in the pipeline, Cosmos, the interoperable blockchain platform, has a strong potential for growth. If it keeps the momentum, Cosmos will skyrocket in 2023 and beyond, making ATOM a good investment option for investors now.
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