Cosmos (ATOM) is among the few cryptocurrencies that have experienced some gains in the past 24 hours as the majority of coins continue to fall.
At the time of writing, ATOM was trading at $8.82, up 9.2% in the past 24 hours. It has hit a daily high of $9.27. Over the past two weeks, ATOM has gained about 23.7%.
But why has ATOM been on the rally while the majority of the tokens are bowing to the crypto market meltdown? Here is why.
ATOM integration on THORChain
One of the main reasons for the ATOM uptrend is after THORChain (RUNE), one of the best DeFi protocols, integrated ATOM into its ecosystem.
With this integration, users will be able to transfer ATOM directly to Ethereum, Bitcoin, and other cryptos that are supported on the THORChain network without the need for wrapped solutions or bridges.
Welcome #Cosmonauts !
— Spot Wiggum (@SpotWiggum) July 5, 2022
However, the need to include the ATOM support was earlier on announced on June 23, when THORChain went live on the main network four years later since its inauguration. In addition, the team also announced the integration of Avalanche (AVAX), another prominent crypto project, into their ecosystem.
Impact of the Integration on ATOM coin
With the ATOM integration into the THORChain ecosystem, Cosmos token turnover will increase and also allow seamless exchange into the original ETH and BTC.
It’s important to note that ATOM has portrayed an impressive performance as a result of these integrations. This year, Cosmos announced its transition into the Interchain Security Protocol that helps to advance the security of Cosmos Hub and the entire ecosystem’s performance.
The post Cosmos (ATOM) integrated on THORChain: ATOM price jumps 10% appeared first on CoinJournal.
Ndasi Tata is a Bitcoin entrepreneur from Cameroon, who holds an M.Sc in Blockchain and Digital Currency from the University of Nicosia. He is an advocate of Bitcoin in Africa and uses various social media platforms to promote his ideas and ventures. Tata has a background in state journalism and has established himself as a significant figure in the Bitcoin community.