Cosmos
About Cosmos
The price of Cosmos (ATOM) is $3.96 today, as of Sep 16 08:25 p.m., with a 24-hour trading volume of $123.04M. Over the last 24 hours, the price has decreased by -4.57%. Cosmos currently has a circulating supply of 390.69M and a market cap of $1.55B.
ATOM is the native token of Cosmos, a decentralized network that provides open-source tools for developers to create their own interoperable blockchains. One of the biggest problems with blockchains is they are created independently and very few have the ability to transfer data between one another.
Cosmos is looking to become the “internet for blockchains,” allowing blockchains to freely share data and tokens across all the blockchains that are in the Cosmos ecosystem.
Cosmos raised $16 million in an initial coin offering (ICO) in 2017. Roughly 20% of funds went to the founders and the coin’s developers, while the rest went to investors.
Cosmos’ annual inflation rate is 7% to 20%. Guided by the Cosmos protocol, the rate automatically fluctuates based on how much money is being “staked” at once.
“Staking” is similar to investing money earning a return on investment. Users can “stake” their ATOMs (lock them up in a smart contract for a period of time) to earn rewards. The process is similar to depositing cash into a bank account to generate interest over time. Stakers earn the rewards for their work securing the network.
In 2019 and 2020, ATOM’s price hovered between $2 and $8. During a crypto bull run in 2021, ATOM’s price surged to a peak of $29.44 in May. Four months later, ATOM’s price hit its all-time high of $44.54. From there, ATOM’s price dropped briefly before spiking again to $43.22 in October 2021.