Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally?
ATOM gained 50% in January and while the wider crypto market could remain bullish for some time, does the Cosmos ecosystem have strong enough fundamentals to support further upside? In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to pass the proposal eventually failed, primarily because of its enormity. Some community members wanted to take a measured approach to each development feature listed in the whitepaper, starting with Interchain Security in Q1 2023. Interchain Security will enhance the value accrual position of ATOM as a modular chain. New blockchains will be able to borrow the security from it and pay Cosmos Hub validators. Despite the rejection of the ...