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Cosmos (ATOM) up 4%, Here Are Likely Reasons

Fri, 05/12/2023 - 15:16
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Godfrey Benjamin
Cosmos is among altcoins with mild gains in industry today following Strides announcement
Cosmos (ATOM) up 4%, Here Are Likely Reasons
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In what can be tagged as more consistent price growth, Cosmos (ATOM) is seeing an impressive leap today, following the 4% uptick at the time of writing. The ATOM token is worth as much as $11.12, and its losses for the week now stand at a negligible 0.23%.

Cosmos is a blockchain protocol whose true prowess is just being highlighted through the defined and targeted growth of its ecosystem. One of the announcements that is driving positive sentiment in the Cosmos ecosystem is the announcement that the Stride Protocol, a liquidity platform, is billed to go live in the ecosystem.

Stride will impact the Cosmos network tremendously, a move that will enable investors within the ecosystem to gain additional value across the board. As one of the largest liquidity providers in the ecosystem, Stride will help in boosting security by offering 15% of liquid staking rewards.

Additionally, the protocol will provide 15% of STRD inflationary staking rewards, 15% of MEV revenue and 15% of transaction fees. These rewards will be distributed to ATOM holders, a promise of the enhanced future profitability for HODLers.

Why Can Cosmos (ATOM) Not Grow as Ethereum Killer?

Complimentary protocol growth strides

Besides the latest update about Stride, a whole lot of new innovations and upgrades have been making their way into the Cosmos ecosystem over the past few months. To begin with, Cosmos announced earlier this month that Neutron, its first consumer chain, will be launched, and a few days after the announcement, the protocol has gone live.

Cosmos is branded as one of the most secure and versatile protocols, but its recognition when compared to Ethereum, Solana and Cardano is very low. The new integrations and steady ecosystem build-up will afford the protocol more market share in the long term, a win-win for all of its current backers.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.