Cosmos sees 1 million transfers in a month across the ecosystem / ATOM News, 06 Oct 2021

The Inter Blockchain Communication protocol that powers Cosmos has been growing steadily over the past 6 months. The Cosmos cross-chain network has been growing steadily along with the projects that run on top of it and it’s just reached a milestone in terms of activity. The Inter Blockchain Communication protocol (IBC), which is the backbone of the Cosmos ecosystem, has seen a surge in activity over the past month with more thanone million transfers logged.

Cosmos launched the IBC in March to enable cross-chain decentralized finance and interoperable nonfungible token transfers. Over the past six months, it has grown substantially, onboarding new projects and blockchains into the ecosystem. Other notable projects operating on the protocol include Terra, Band, Kava, and THORchain’s Chaosnet.

The Mapofzones Cosmos ecosystem explorer shows that there have been 1,071,132 transfers over the past 30 days and 45,738 transfers on IBC over the past 24 hours. The Osmosis automated market maker is responsible for the lion’s share of those IBC protocol transfers with 44% of the total, with the Cosmos chains recording 307,855 transfers, or 29% of the IBC total, over the past 30 days.

The IBC standard provides a secure method of exchanging data between independent blockchains while scaling through sharding and sidechains for various applications. Cosmos is just one network of many operating on the IBC protocol. The digital asset payments and wallet provider Crypto.com also runs on the Cosmos network. In late September it launched its own NFT platform and marketplace which has driven further momentum. In June, the Kava DeFi platform launched on Cosmos enabling Binance Coin deposits to collateralized loans in its USDX stablecoin.

Cosmos is also working on rollup scaling technology to allow developers to build Cosmos-based blockchains as rollups which can be deployed as clusters within the IBC zones. In a tweet on Oct. 6, it explained that the scaling tech called Optimint would be a “drop-in replacement” for the current Tendermint framework that it is built on.

Cosmos has its own native token called ATOM which has fallen 5.1% over the past 24 hours to trade at $35.39 according to CoinGecko. The token has made a solid 37% gain over the past month, however, and is just 19% down from its Sept. 20 all-time high of $44.42.

#	Crypto	Prediction	Accuracy	CVIX	Price	24h	7d	Market Cap	7d price change
1	BTC	Bitcoin predictions	81.2%	26	$66 441.00	-0.14%	5.84%	$1 308 174 138 950
2	ETH	Ethereum predictions	72.8%	48	$3 217.31	0.86%	5.16%	$392 653 880 627
3	USDT	Tether predictions	96%	1	$1.000209	-0.01%	-0.02%	$110 427 190 791
4	BNB	Binance Coin predictions	86.8%	22	$609.34	2.15%	13.81%	$91 116 131 923
5	SOL	Solana predictions	70.4%	64	$157.46	1.87%	19.09%	$70 390 441 634
6	USDC	USD Coin predictions	96%	2	$0.999964	-0.01%	-0.02%	$33 734 969 081
7	XRP	XRP predictions	71.2%	60	$0.554501	0.48%	12.72%	$30 569 138 405
8	DOGE	Dogecoin predictions	73.2%	52	$0.161153	0.61%	5.17%	$23 207 254 896
9	TON	Toncoin predictions	72.8%	60	$5.71	-4.22%	-6.00%	$19 809 771 073
10	ADA	Cardano predictions	68.8%	59	$0.504354	-2.60%	12.25%	$17 970 836 604
11	SHIB	SHIBA INU predictions	58.4%	82	$0.000027	0.88%	21.92%	$15 974 460 291
12	AVAX	Avalanche predictions	73.2%	59	$38.70	-1.42%	13.89%	$14 631 040 482
13	DOT	Polkadot predictions	70.8%	57	$7.38	-1.42%	11.96%	$10 608 635 805
14	WBTC	Wrapped Bitcoin predictions	82.4%	25	$66 552.98	0.21%	6.02%	$10 341 251 276
15	STETH	Lido stETH predictions	94.4%	1	$2 941.39	-0.40%	-3.32%	$10 258 752 564

Cosmos sees 1 million transfers in a month across the ecosystem

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