Cosmos Network Moves $27.7 Million in Bitcoin After Two-Year Dormancy

After two years of inactivity, the developers’ wallet of Cosmos Network transferred 295.3 BTC ($27.7 million), which were raised through an ICO in 2017. This is according to data from Arkham Intelligence. 

After nearly 2 years, Cosmos Network developers transferred 295.3 BTC ($27.7M) raised through an ICO in 2017. https://t.co/dPDd6vMAKB

This year, they transferred/sold a total of 21,600 ETH and 295.3 BTC, valued at $78.67 million.

The BTC and ETH raised through the ICO in 2017 now amount to: 96.4 BTC and 17,188 ETH, valued at $67 million… https://t.co/MN9iJ6Oul7 pic.twitter.com/6mSblHbjxE

— 余烬 (@EmberCN) December 24, 2024

Additionally, this year they moved 21,600 ETH ($50.9 million at the time of the transaction).

They still have 96.4 BTC and 17,188 ETH remaining, totaling $67 million.

In January, the Cosmos Hub ecosystem community rejected a proposal to reduce the minimum inflation of the native token ATOM from 7% to 0%. 

In September 2023, platform developers added a liquid staking module to the central blockchain during the upgrade to version v12.