Cosmos gained traction in India during the ongoing crypto resurgence phase in the country as the demand for both Bitcoin and ATOM token increased mostly in the urban tech hubs. The smart contract platforms like ETH are also gaining momentum as we are about to see in our latest Cosmos news.
Cosmos gained traction especially with students in India like Aditya Nalini at the Vellore Institute of Technology in Southern India as he is one of the ambassadors that were trained by the community organization Cosmos India which was founded a year ago. This community now has over 100 participants.
Nalini holds his wealth in crypto after initially discovering the CryptOkitties games in 2017. Bitcoin is still the most popular cryptocurrency but Nalini says he has never owned BTC and there are many students like him. In the meantime, the bull market is raging across the Indian crypto exchanges as the global exchange data shows an increase in demand for ATOM. Cosmos is a leading project on the crypto space despite being much younger than ETH or BTC. OKEx press manager Vivien Choi said:
“OKEx … saw record high numbers when alt season was at its height in August. OKEx has seen a rise in demand for ATOM especially last month throughout the globe.”
So happy! Hope to bring a change in the Indian cosmos ecosystem and spread the knowledge of blockchain!😄 https://t.co/xGMGAHQydD
— Adinalini.eth | Cosmos India (@adinalini) May 25, 2020
Unlike Ethereum and Bitcoin which have a strong brand identity, Cosmos is still new to Indian crypto fans. This will give the project the feel of being the “next big thing” as Nalini described. He also said that Cosmos is the “father” network because its interoperability features can allow the different altcoin projects to get help from another instead of fighting for dominance:
“My portfolio currently has 60% atoms, 30% matic and 10% ether, where ETH is more to interact with dapps and play than from an investment standpoint. Being a student, it was extremely difficult building a portfolio. … I built mine by winning competitions, participating in bounties and winning giveaways.”
The local crypto meetups have been the engine behind India’s crypto boom so according to Cosmos’ India co-founder Abhitej Singh, there are more than 1000 people taking participation in the Cosmos programs so far in 2020. This work was funded by a grant from the Interchain Foundation which manages about $104 million since the token sale in 2017, as Singh said:
“One of the key goals for Persistence One is interoperability, hence there is a lot of alignment with Cosmos’ vision.”
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