How high can Cosmos go?

Cosmos (ATOM) has emerged as a leading competitor in the crypto market to Ethereum’s (ETH) popular smart contract platform by allowing developers to create highly customizable blockchains. The blockchain technology used by Cosmos makes the project less difficult and complex for developers using a modular framework that demystifies decentralized applications of dApps.

Crypto insiders witnessed how the standalone blockchain became a popular platform for building decentralized apps, following dYdX’s scaling and customizability. But will Cosmos (ATOM) go high this year? Let’s look at Cosmos’ ecosystem and discuss the Cosmos price prediction for 2023 and beyond!

Overview of Cosmos 

Cosmos is considered the blockchain’s Internet, serving as a layer zero blockchain protocol providing developers with an open-source framework to develop public PoS (Proof of Stake) blockchain. Cosmos was launched by Jae Kwon and Ethan Buchman in 2016 to create a highly interconnected, customizable, and independent blockchain ecosystem.

The Cosmos SDK (software development kit) is the project’s main characteristic, allowing developers to create customized blockchains from scratch. These blockchains can typically interoperate with other blockchain networks within the ATOM ecosystem. The Tendermint Byzantine Fault Tolerance (BFT) consensus algorithm is the default consensus mechanism developed within the Cosmos SDK. 

Other salient features of Cosmos SDK include the IBC or the inter-blockchain communication that allows Cosmos blockchains to interact, enabling data sharing and token transfers. Additionally, the primary Cosmos blockchain within the ecosystem is called the Cosmos Hub, which provides key services to other blockchains, including interchain accounts, interchain security, voting, and staking.

Historical Price Analysis

According to the data gathered from CoinMarketCap, the Cosmos is presently ranked number 26 in the crypto ecosystem, trading at $6.76. The current market circulating supply is 368,670,697 ATOM, with a market capitalization of $2,492,242,300. In the last 24 hours, ATOM has increased 115.68% in terms of trade volume. In the last 7 days, Cosmos has shown a downward trend of almost 6.20%.

It has projected strong potential lately for traders to use this opportunity to dig in and invest. In the last month, ATOM’s price increased by more than 0.46%. The marginal growth of ATOM tokens indicates its potential to be a decent asset that will grow to become a profitable investment option.

How high will ATOM go up? 

Based on our Cosmos predictions, we consider ATOM to be a good investment, and we expect the token to have a maximum price of $14 in 2023 and $75.17 in the year 2030.

Changelly expects ATOM to reach a maximum of $7.71. The estimated average trading price is around $7.41. Considering the analysis of Cosmos prices in previous years, the minimum price of ATOM tokens is expected to be around $10.01 in 2024, with an average trading price of $9.95.

Based on the analysis made by Price Prediction, the future of ATOM tokens is heavily dependent on how the overall crypto industry performs. They expect the token to turn very bullish in the coming years and predict a maximum price of $24.21 in 2025.

Meanwhile, CoinCodex forecasted the Cosmos price to be trading between $ 5.55 and $ 8.20 in 2024. Nevertheless, it is still a good investment for traders with a high-risk tolerance and strong financial position.

Conclusion

To conclude, the reasons for ATOM crypto price growth, in the long run, can be due to various reasons. Many investors call Cosmos another Ethereum. In addition to this, the architecture behind Cosmos is easy to use and a superior software development kit that allows the project to reach enormous scalability.

If Cosmos developers ensure users can get exposed to high scalability, the future price of Cosmos might reach the stars as developers shift to the Cosmos protocol from the existing Ethereum smart contracts platform. However, only time will tell how traders can exchange their Cosmos tokens and at what price.