The entire crypto market has barely moved in the past 24 hours, but Cosmos (ATOM) is an exception. The price of the altcoin has reached its all-time high today.
Cosmos price doubled in 1 month
The price of 1 ATOM token is up more than 10 percent today, bringing the coin to its All Time High of $43.61.
Cosmos crossed the $40 mark yesterday and reached a price of $40.76. So today, Cosmos again marks a high. In 1 week, the Cosmos price has risen by no less than 30 percent. The price has more than doubled in a month.
Cosmos is described by its developers as an “internet of blockchains”. The interoperability network enables different blockchains to connect, share data and transact. As an advantage, blockchains can specialize in different areas. As a result, no single blockchain has to corner the entire market.
On August 18, Cosmos’s price rose 25% from $15 to $20. This happened after the launch of a cross-chain DeFi interface called Emeris.
At the end of August, Cosmos also opened a bridge with the Ethereum network. The integration of Sifchain with the inter-blockchain communication protocol (IBC) enabled trading between the Cosmos and Ethereum networks for the first time. The Sifchain is a decentralized exchange (DEX) built on Cosmos.
As of today, Cosmos is the ninth largest crypto in terms of market cap.