Cosmos: taking a short-term position on ATOM? Read this to get a clear picture

  • Osmoregulation is superior to other DEXs in developmental activity
  • Despite this, Cosmos’ TVL continues to decline, along with its trading volume

Osmosis, a DeFi project about Cosmos blockchain, may be essential to the growth of the latter in the DeFi space. This was because Osmosis was able to take the lead among DeFi protocols such as MakerDAO and Lido in terms of development activity in recent days.

Read Cosmos [ATOM] predict the price 2022-2023

As shown in the image below, Osmosis’ GitHub has seen a spike, indicating that its developers have been actively contributing to GitHub. This growing activity could help Osmosis expand and have a positive impact on Cosmos DeFi projects.

Source: feeling

It’s not all good news for the universe

Unfortunately, at the time of writing, Cosmos It cannot do well in the DeFi sector. Also, as shown in the image below, it can be seen that the total value locked (TVL) in the blockchain has deteriorated significantly in recent weeks.

As of November 19, Cosmo had a total value of $411,310, having declined by 1.11% between November 18-19.

Source: Defillama

But even though Cosmos has not grown in the DeFi space, stakeholders have continued to show interest in it. The number of bets on Cosmos The network has grown by 0.15% in the past seven days. They have a reward rate of 19.25% at the time of publication, according to data from Staking Rewards.

Source: Staking Rewards

Despite the increase in the number of players, the total fee generated by Cosmos fell 30.6% in the past seven days, according to token terminal.

Cozmo’s volume also continued to languish, dropping from 283 million to 98 million over the course of a week. Its market value followed and decreased in line with volume.

Source: feeling

These negative factors, along with the extensive research and development surrounding the crypto market, have had a detrimental effect on the price of ATOM.

At the time of writing this report, corn Retails for $9.98. Its price has increased by 1.75% in the past 24 hours, he said CoinMarketCap.

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