Cosmos (ATOM) had been on a steady downtrend ever since the bullish momentum ceased for the cryptocurrency market in January. The downward trajectory had been going strong – without periodic breaks. However, the current price action indicates that the downtrend has effectively been reversed. ATOM token first tanked towards the end of February and then established an uptrend subsequently – which is currently going strong. At the time of writing, the cryptocurrency stands at a price level of $33.90. The daily price has increased by 4% while the trading volume has grown by 25%. Cosmo is currently the nineteenth-largest cryptocurrency in the market.
Developments to watch out for
Cosmos (ATOM) is regarded to be the internet of blockchains and the missing puzzle of the blockchain infrastructure by solving all of the crucial issues facing the industry today – like scalability, low speed, environmental woes, and high gas fees. The year 2022 is expected to bring unparalleled growth to the network because of the-many developments planned.
The Cosmos hub will incorporate Interchain Security which is essentially a Shared Security mechanism utilizing Inter-Blockchain Communication. Interchain Accounts are also currently under development and are expected to be rolled out during the first quarter of 2022 as the Theta upgrade of the network takes shape. The network will also be focusing on furthering its DeFi segment with features like asset management, portfolio visualization, etc. Various NFT-based projects have been entering the Cosmos ecosystem and a lot more are in the pipeline for 2022. In a nutshell, if you haven’t already invested in ATOM, this may be the ideal time before the token explodes in the current year.
Cosmos: Future outlook
Cosmos is, hands-down, one of the most solid projects in the cryptocurrency market. It has a strong bullish outlook for the future and the current and upcoming developments are expected to further fuel its future trajectory. In the light of the developments, it may be possible for ATOM token to at least skirt close near to $50 by the end of the year. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $48 in a year’s time while the five-year projection places it at $131. Digital Coin Price also has similarly bullish projections for the token with an indication of crossing $50. Their estimates place the maximum price for Cosmos in 2022 at $47.
