The Cosmos Ecosystem is Gaining Momentum ($ATOM, $LUNA, $THOR)
2 weeks ago, we released a report detailing 8 cryptos to watch in 2022, providing a short bullish case for some of our favorite crypto projects. In terms of market outperformance, one of them is already living up to our expectations: Cosmos ($ATOM). In the “8 cryptos to watch” report, we highlighted Cosmos as: “The central hub in a growing network of custom, interoperable blockchains, built using the Cosmos SDK (Software Development Kit) — Already secures over $170B worth of digital assets, with a growing community of apps and services — Lots of potential for future growth as the ecosystem expands."
Cosmos’ underlying mentions also demonstrated notable growth while the price fell in Q4’21 — Those mentions have surged to new highs in recent weeks, trending +49% MoM on a 30-day moving average.
The recent uptick in investor Buzz comes as a direct result of the impressive rally in the price of ATOM tokens, which have gained by more than +50% since the release of the “8 cryptos to watch” report.
In terms of market cap, the “Cosmos hub” (AKA: ATOM), isn’t even the largest blockchain built using the Cosmos-SDK framework.
Terra ($LUNA) takes that honor, with a market cap of $31B putting it just inside the top 10 (and several paces ahead of Cosmos at $9B).
We first identified this unique price-stability protocol as an outperformer in mid-September 2021.
Since then crypto-specific mentions of the Terra protocol and LUNA tokens have continued to outperform: +90% QoQ (30d MA)
LUNA tokens have also gained by more than +100% since our September feature, but of late, they have not shown the same strength as many other projects in the Cosmos ecosystem. THORChain ($RUNE), has not had that problem. Although the market cap of this DeFi protocol remains well below its past highs (down nearly -50% since May), RUNE has joined in on the ATOM rally, up nearly +10% in the past week.