On Friday, January 7, the price of the ATOM token from the Cosmos project briefly surpassed the $44 mark — up 20.4% in the last 24 hours (CoinGecko). Against the market, key ecosystem tokens also posted notable gains.
ATOM quotes closed in on an all-time high. At the time of writing, the price had corrected to around $43.2.
Over the past 24 hours, the native token of the Osmosis DeFi platform (OSMO) rose 16%. Previously the liquidity in the ecosystem reached $1 billion. This was likely aided by Osmosis's cross-chain Terra Bridge integration and high pool yields.
As of writing, Osmosis ranks 12th by TVL in the DeFi Llama ranking.
The Secret token (SCRT) rose 16.6% (to $6.7) over the 24 hours, Akash Network (AKT) up 18.6%. Strong performance from Starname (IOV) and Sentinel (DVPN) — 38.4% and 29.5% respectively.
Earlier, Bitcoin touched a local low at $42,500, dragging the rest of the market. On January 6, all top-10 assets by market cap were in the red.
The drop followed a statement by the Fed about readiness to raise the base rate earlier and faster than expected. Concurrently, the hash rate of the first cryptocurrency declined due to the internet shutdown in Kazakhstan.
Alan Dordzhiev, chairman of the Kazakhstan National Association of Blockchain and Data Center Industry, told ForkLog that “mining farms were shut down for the duration of the internet blockade across the country”. Despite this, the NYSE-listed mining company BIT Mining Limited said that the scenario of evacuating equipment from Kazakhstan to North America was unlikely.
In October 2021, the Cosmos team announced experimental blockchain Sagan, designed to test new protocols before their launch on the mainnet.
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