Cosmos (ATOM) cryptocurrency price has been rising recently, but there has been some instability, so the issue on everyone’s mind is if it can continue to rise. We’ve compiled the most recent ATOM crypto price predictions in one place so you can see and decide for yourself.
Watch the video to find out more!
Disclaimer: Please remember that this video is for informational purposes only and should not be considered financial advice. Our goal is to get you one step closer to understanding the world of blockchain and its many amazing applications, but before making any investment decisions, you should always do your own research.
Cosmos (ATOM) is rapidly emerging as a significant contender to Ethereum (ETH), the leading smart contract platform, by allowing developers to establish highly customizable, separate blockchains.
The move of projects to the Cosmos (ATOM) ecosystem came to light in June 2022 when the top Ethereum-based futures contracts exchange dYdX announced plans to create an independent blockchain on Cosmos.
Experts in the crypto space anticipate that many other decentralized applications (dApps) will follow dYdX in search of scale and customizability, forming application chains, or “app chains.”
As of September 15, 2022, the ATOM price has reacted favorably to the dYdX announcement, rising over 111% over the previous three months.
So what is Cosmos (ATOM)
Cosmos, sometimes known as “the internet of blockchains,” is a layer zero blockchain network that gives programmers access to open-source frameworks for creating public Proof-of-Stake (PoS) blockchains.
Cosmos, founded in 2016 by Jae Kwon and Ethan Buchman, aspires to create an ecosystem of independent, configurable, and interconnected blockchains. Popular Cosmos-based blockchains, according to its website, include the Binance Chain (BNB), THORChain (RUNE), and Crypto.org (CRO).
Cosmos blockchains can communicate with one another thanks to its zone architecture. Users can create multi-asset blockchains that use public proof-of-authority (PoA) and proof-of-stake (PoS). The network’s focus on customizability and interoperability distinguishes it from other blockchain networks like Ethereum.
Let’s look at the price analysis of Cosmos; its rise and fall
Until July 2020, the coin traded in a range of $1 to $7. Its first significant breakthrough occurred in August 2020, when the coin completed the month roughly 90% higher.
2021 saw a shift in events. When the year began, ATOM was trading around $6.50, but by September 2021, it had risen nearly 600% to an all-time high of $44.70.
Progress in the creation of the Gravity DEX (decentralized exchange), Gravity Bridge, interchain accounts, and other features on the Cosmos Hub aided most of ATOM’s price growth in 2021.
By January 2022, ATOM had retested its all-time high, aided by a thriving Terra ecosystem that had established itself as one of the largest chains in terms of total value locked in (TVL). Terra was the most valuable Cosmos-based blockchain in terms of market capitalization at the time.
However, according to data from Binance, ATOM missed out on setting a new record high, peaking at $44.70 in early January 2022.
Between March and June 2022, ATOM experienced a four-month losing streak as a result of the collapse of the Terra ecosystem and a bear market in cryptocurrencies. A one-and-a-half-year low of $5.55 was reached by ATOM on June 18, 2022.
As of September 14th, 2022, ATOM increased more than 136% from its low point.
Investor confidence in ATOM has improved as a result of the news that dYdX, an Ethereum-based exchange for cryptocurrency futures contracts, has decided to switch to Cosmos as a separate blockchain.
The price of ATOM as of September 15 is more than 68% lower than its record high of $44.70. Year-to-date (YTD) losses for ATOM in 2022 are roughly 55%.
The migration of dYdX sparks a rivalry between Cosmos and Ethereum.
The news that dYdX would be transferring to Cosmos has so far in 2022 been beneficial to the ecosystem and the prediction for the price of Cosmos cryptocurrency.
dYdX is currently built on top of StarkWare, an Ethereum-based layer 2 (L2) solution.
On June 22, 2022, dYdX declared that dYdX V4, its most recent version, would be created as a stand-alone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus mechanism.
In addition, dYdX stated that it was dissatisfied with “current off-chain order book methods” and was seeking “complete decentralization.”
The announcement signaled a bullish shift in market sentiment for ATOM, which gained for eight straight weeks between mid-June and early August.
So, does Cosmos pose a serious threat to Ethereum’s hegemony? Bankless analyst Ben Giove made the following observation:
So let’s look at Cosmos (ATOM) price prediction for 2022 and beyond
After declaring that its research and development arm will expand on Cosmos, cryptocurrency research firm Delphi Digital claimed that Cosmos is “ideally positioned” to profit from the “growing number of app chains” in the blockchain industry.
Forecasting services based on algorithms In their cosmos price prediction for 2022, Wallet Investor predicted that the token would decrease to an average price of around $9 by the end of the year. Its long-term Cosmos price forecast for 2025 predicted that ATOM would fall even more to an average price of $1.80 by the end of 2025.
Meanwhile, DigitalCoinPrice predicted a significantly more optimistic cosmic coin price. In its futuristic price forecast for 2030, it projected that ATOM would trade at an average price of more than $199.27.
Lastly, Price Prediction predicted that ATOM would trade at an average price of more than $13.08 in 2022, $39.51 in 2025, and around $236.75 in 2030.
The analysis stated earlier shows that Cosmos (ATOM) estimates are rather contradictory. There is no universal consensus on whether future ATOM price changes will be good or bad. Indeed, future potential growth is dependent on a variety of things, including announcements, new technology solutions developed by Cosmos projects, the crypto environment in general, legal status, and so on.
Be aware that predictions made by analysts and algorithms can be inaccurate. You shouldn’t use predictions in place of your own study.
Always carry out your own research. Your risk tolerance, market knowledge, portfolio size, and investing objectives should all be considered when deciding whether to trade or invest. Also, never risk investing funds that you cannot afford to lose.
