- ATOM price has bounced back in the past few days.
- The Cosmos ecosystem has grown rapidly recently.
- Some of the top apps in its ecosystem are Cronos, Alchemy Pay, and ThorChain.
ATOM price rose slightly as investors focus on its growing ecosystem and market share in the blockchain industry. Cosmos rose to a high of $11.76, which was about 14% above the lowest level this week. It has a market cap of over $3.4 billion, making it the 24th biggest cryptocurrency in the world.
Cosmos ecosystem expanding
Cosmos is a a leading blockchain project that has an important role in the blockchain industry. It is an ever-expanding ecosyste of interconnected applications and services. According to its website, there are 262 applications and services in the ecosystem that have digital assets under management of over $62 billion.
Cosmos SDK is another product in its ecosystem. It is a leading platform that is a rival to Ethereum in that it helps developers to build decentralized applications (dApps).
Some of the most notable applications in the Cosmos ecosystem are ThorChain, Cronos, Osmosis, and Ankr. ThorChain is one of the leading cross-chain liquidity networks that has 95 active nodes and a total value locked of over $297 million.
Cronos, formerly known as Crypto.com Chain, is a major smart contract platform that has a TVL of over $901 million. Some of the biggest apps in Cronos are Tectonic and VVS Finance among others.
Ankr Protocol is another top application in the Cosmos ecosystem. It is an infrastructure project that handles over 7.2 billion daily API requests. The platform supports popular chains like Polygon, Binance, Optimism, and Avalanche among others.
The other popular applications built in Cosmos are Injective Protocol, Juno Protocol, Mirror Protocol, OkExChain, and Pocket Network among others. Its ecosystem is set to expand following the upcoming launch of dYdX chain.
Another possible reason why the ATOM price is its high staking rewards. According to StakingRewards. ATOM has a yield of 17.88%. Staking market cap has risen to over $2.3 billion while the number of stakers has risen to over 142,773 from less than 50,000 early this month.
ATOM price prediction
Cosmos price has made some modest gains in the past few days. It has formed an ascending channel that is shown in green. The coin has moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved above the neutral point at 50.
ATOM price will likely continue rising as bulls target the next key resistance level at $13.26, which was the highest point on August 25. A drop below the support at $10 will invalidate the bullish view.
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