The expanding Cosmos: Here’s why Osmosis (OSMO) hit a new all-time high

The expanding Cosmos: Here’s why Osmosis (OSMO) hit a new all-time high


Crypto assets within the Cosmos ecosystem have been on a run since the start of 2022, thanks to an intensified focus on brokering cross-chain compatibility with other blockchains. One decentralized finance (DeFi) protocol that has benefited from the current expansion plans is Osmosis (OSMO). 

Osmosis is the first decentralized exchange (DEX) servicing projects connected through the Interblockchain Communication Protocol (IBC) and data from Cointelegraph Markets Pro show OSMO price surged 123% from a low of $4.05 on Dec. 17 to a new all-time high at $9.24 on Jan. 7.

OSMO/USD 1-day chart. Source: CoinGecko

Trending: Vaccine mandates around the world collapse after U.S. Supreme Court decision

Three reasons for the price growth seen in OSMO include a surge in trading volume on the DEX, a record high in the total value locked on the protocol and the release of cross-chain bridges

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend