- ATOM’s ecosystem saw a massive uptick in terms of development activity
- ATOM saw improvements in DeFi as well, even though the volume and market share declined.
A report by SantimentProjects ATOM’Over the past few months, the ecosystem showed significant growth in terms development activity. This ecosystem outperformed other ecosystems, such as Binance or Solana.
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Look at the competition
It is evident that there has been a lot of development activity in the area. Cosmos’ The ecosystem is much more than other cryptocurrencies.
A spike in development activity would suggest that developers working in the Cosmos ecosystem have been making massive contributions to their respective project’s GitHub. The development of the ecosystem includes projects such as Osmosis, DVPN could play an important role in the altcoin’s long-term growth.
The improvements being made in ATOM’s ecosystem could have had a positive effect on Cosmos’ TVL as well.
Consider this – Cosmos’ TVL recorded an uptick over the last few days. Cosmos had $416K locked at the time this article was written. This amount has increased by 3.87% during the last 24 hours.
According to data, Osmosis also experienced a slight increase in its TVL during the past few days. By DefILlama.
In addition, there has been an increase in stakers taking ATOM over the last few days. There has been a dramatic increase in stakers who have staked $ATOM in the past 30 days.
The figures for the same were as high at 725,000 as of press time.
Despite growing interest from stakeholders and greater development throughout its ecosystem, however, ATOM’s volume continued to decline over the past week.
In fact ATOM’s volume depreciated significantly over the course of the last 7 days. Its volume decreased from 672million to 125million over the last week. Its market cap also declined with declining volumes.
Despite the declining volume, however, ATOM’s price action has remained positive.
ATOM traded at $10.15 as of the writing. Its price had fallen by 2.48% over the past 24 hours..