ATOM, the native token of Cosmos blockchain, went live on THORChain – a leading Defi network. The integration of ATOM on THORChain was decided a few years back and was finally integrated on July 5, 2022. Analysts believe this integration will result in a lucrative turnover for the token. ATOM token holders will be able to directly swap their tokens for ETH, BTC and other crypto assets.
Crypto investors did notice the uptrend of ATOM as it rose to 28.02% in the last 7 days. While the integration news has brought the token forward, it is not the only reason that pulled the token to a bullish uptrend. Cosmos blockchain’s recent advancements, like the interchain security protocol, have brought the token in limelight.
Source: U.Today
Additional Reading: ATOM Price Prediction
The impact on Atom’s graph post-THORChain’s announcement
ATOM was trading between INR 618 with a volume of INR 31,311,215 at the end of June. The asset entered July with a hit after it rose to INR 717 from 701 with a supply of INR 39,688,678, 536.
Source: CoinGecko
What is Atom (COSMOS)?
ATOM is the native token of Cosmos blockchain that empowers other blockchains to scale efficiently and interoperate efficiently. The core vision of Cosmos is to make multichain communications faster and more scalable. ATOM works on the proof of stake concept, so participants can stake their tokens to earn rewards. ATOM was launched in 2019.
Frequently asked questions about ATOM
- What is the utility of ATOM?
ATOM is the native token of Cosmos and enables the spam-prevention mechanism. It is used by holders to stake and earn ATOM and is utilized for governance within the ecosystem. The token holders can use them to vote for proposals.
- Are ATOM and Cosmos the same?
ATOM is the native token of Cosmos blockchain. The blockchain is designed to reinvent the future of multichain communications with better interoperability. Cosmos uses the Inter-Blockchain Communication protocol to scale transactions between blockchains for a seamless user experience.
