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Cosmos Surges 64% In A Week: Can ATOM Be Trusted?

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Cosmos (ATOM) is one of the coins featured in our coming altcoin news. As Cosmos surges and goes beyond its regular gains, it surprises a lot of people by inserting itself into the top fifteen of the market cap. This is why we decided to give this altcoin a credit in this week’s news.

The trade volume of ATOM peaked as high as $191 million. As Cosmos surges, there are other questions popping. Specifically, analysts are wondering how much of Cosmos’ numbers can be trusted given that they typically originate from exchanges that are known for inflating volume. The altcoin news also show people wondering how a coin like ATOM can go from an ICO price of 10 cents to five dollars overnight – and wondering if and when will this pump be crashing.

The fact is that Cosmos surges and its trade volume is big. As we can see, crypto platforms like Bibox, Huobi, Hotbit, Upbit and OKEx all processed more than $191 million of ATOM’s volume on Saturday – but were also accused of inflating trade volume in the past – which leaves a lot of dust in this case.

As Cosmos surges, ATOM ranks at #17 on the total cryptocurrency market cap. The price of ATOM initiated at $0.10 and now stands over $5. However, even though the Cosmos gains seem like the coin appeared overnight, its ICO was launched in late 2017 and a large amount of coins had been locked up in a contract until just a few weeks ago.

Much of the coin’s recent growth also came after it was listed on Binance – which is the main reason why Cosmos surges as we speak. Literally, as soon as ATOM was listed on Binance, the coin’s price has jumped by 41% and 64% in a week, accordingly. The 64% growth was recorded in a week as the Cosmos (ATOM) coin climbed from $3,40 to a peak of $5.58 as many best cryptocurrency news sites reported.

The Cosmos gains are still here and visible over the past 24 hours. However, even the most optimistic Cosmos holders are fearing out because a correction has never happened to the coin – and are scared that its price may drop by big percentages overnight. If you want to take a better look at what the Cosmos project is all about and see all of its partnership in the ecosystem, visit this link.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Cosmos News

Cosmos Tendermint Labs Director Resigns Due To Untenable CEO

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The Cosmos Tendermint which is the core contributor to the Cosmos blockchain, had its lead labs director Zaki Manian resigning from his position as we are reading further in the Cosmos news below. Manian tweeted before about his discontent with the Cosmos Tendermint CEO Jae Kwon saying that the co-founder was ‘’obsessively focused on Virgo while neglecting and under-resourcing IBC, threw a painstakingly planned hiring and resource improvement proposal out the window to become @bitcoinJaesus.’’ He said that the CEO was conducting with untenable distraction but Manian intends to work with Cosmos still saying:
 “There are people inside the company that want to portray this as a power struggle between me and Jae, and this as an outcome and me threatening x, y and z. But it was really me saying I don’t see a way in this arrangement to get the work done. And the best way to get the work done was for me to leave.”
Tendermint has not commented yet on this high profile departure. The vision of the company was to create open networks in order to manage conflict and empower people to align with the universal goals to enact further positive societal and environmental change which seems to have come unbearable at the workplace. However, it does have more than 100 projects in the Cosmos and Tendermint ecosystems since the Tendermint protocol is an interoperability network on which Cosmos was built. How will the lead developer’s leave impact Cosmos and the relationship between the two networks, is yet to be seen. Previously, The Cosmos CEO and co-founder Jae Kwon revealed in a series of tweets that he will be stepping down from his role at Cosmos in order to work on another project. His decision doesn’t mean that he will be abandoning the project at all but that he will step down once his transitions plans get finalized so he can serve as a council member of the ICF. He said he won’t be leaving even though the project is doing well without him he said that he will focus on Virgo in order to bring more people to the Cosmos ecosystem while helping Cosmos remain a sub-mission. Virgo is a foundation that wants to provide the world with the best open collaboration technology.
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Cosmos News

Cosmos Topped 1-Day Trading Volume, ATOM Drops Now

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The Cosmos news newsletter today shows that the ATOM cryptocurrency is sinking and losing 7.67% as of press time. However, Cosmos topped the 1-day trading volume yesterday at $277 million and became one of the most traded altcoins out there. Cryptocurrency exchanges which offer ATOM trading now include Hotbit, BitForex, Coinone and GDAC. With a market cap of $881 million right now, ATOM is trading at $4.62 and has been seeing a massive increase this month. The altcoin news also show that ATOM is getting a lot of attention due to its Scrypt hashing algorithm. The total supply of the coin is 237,928,231 coins and the circulating supply is 190,688,439. A lot of investors have decided to purchase ATOM because of the fear of missing out (FOMO) which started this month as Cosmos topped the charts and proved that it is a coin that can rise quickly. The Reddit community for Cosmos has been trending as well (/r/cosmosnetwork) because of the huge increase and spike in prices - and the currency's GitHub profile has been eyed by lots of people. Anyways, the Cosmos news newsletter now is showing that the altcoin is suffering and dropping a lot of points. As of press time, it continues to sink and analysts and traders hope for it to hold on at the $4 mark at least. But if we see the rest of the market and the cryptonews in general, we will see that the situation is quite the same for many other alternative cryptocurrencies. Even Bitcoin dropped below $10,000 and went back to the $9,000 waters again - something that no one could predict considering how strong the recent surge was for the most dominant coin. The biggest loser in the top 5 today is Bitcoin SV (BSV) which lost 11.34% and is now at $312. Additionally, we can see 10% losses by Bitcoin Cash (BCH) which is at $439 and XRP which lost 7.80% and is again in the $0.30 zone.
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Cosmos News

Cosmos Staking Options Are Now Available On Anchorage

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The well-known firm that holds cryptocurrencies as a service provided to institutional investors, Anchorage, announced today that it will support ATOM, the crypto that originates from the Cosmos blockchain network. The Cosmos staking options come as a part of the plan for the further expansion of the platform as we reported in the previous cosmos news. Customers have the opportunity to hold ATOM on Anchorage and because Cosmos is a proof-of-stake network, the ones that hold the coin can see a benefit from staking rewards. Customers also have the opportunity to trade ATOM on the new crypto brokerage service of Anchorage, named, Anchorage Trading. The attracting force of Cosmos is that it aids blockchains to work together with one another, potentially ending one of the worst bottlenecks for technology since Windows and iOS.
 “Anchorage’s support for ATOM custody means Anchorage clients will be able to take part in securing the Cosmos Network through ATOM staking. We’re excited to open the floodgates of user adoption through service providers like Anchorage,” the Head of Community at Cosmos & Tendermint, Chjango Unchained, noted.
Anchorage that is also a member of the Libra Association, which is lead by Facebook, makes the claim that it is the first institutional custodian to allow staking of Cosmos. Binance and Poloniex have offered it for many years, and the U.S. outpost of Binance started to support it last week, and Poloniex, the cryptocurrency exchange offers it too. The announcement about the Cosmos staking comes during the drama in the Cosmos community. Zaki Manian, the director of Tendermint, the firm that is developing the Cosmos blockchain, yesterday accused the founder and CEO of the project, Jae Kwon, of decreasing responsibility as he steps away from the project.
 “What Jae is doing isn’t decentralization, it’s a transparent attempt to evade responsibility for Jae’s neglect and negligence to the Cosmos project,” Zaki Manian the Tendermint Director noted in a Twitter thread.
Besides the drama, the Anchorage declaration is good news for Cosmos, which does not mean that the ATOM holders would apprehend it automatically. The price of ATOM coins is fallen for 2 percent today, which is traded at around $4.20 per coin. That is approximately half of the highest peak of the crypto at $8.31 per coin, according to data from CoinMarketCap.
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Cosmos News

Cosmos CEO Steps Down From His Role At The Company

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The Cosmos CEO and co-founder Jae Kwon revealed in a series of tweets that he will be stepping down from his role at Cosmos in order to work on another project so let’s find out more in today’s Cosmos news today. Cosmos Network was launched in 2019 in March to act as the internet of blockchain and the project claims to provide a secure and scalable ecosystem that will support interoperability between thousands of blockchains in the new token economy. Since its launch, Cosmos emerged as one of the most promising projects in the crypto space with its native token ATOM ranking as the 19th largest cryptocurrency regarding the market cap. According to the Cosmos CEO, he will be stepping down from the blockchain so he can focus more on the Virgo project and ensure that the ICF conduct their functions as intended. The ICF is a nonprofit foundation that aims to promote and develop technologies and Dapps which mostly focus on the Cosmos ecosystem. AiB, on the other hand, is a software company that made a contract by the ICF for the development of the Cosmos Hub. The AiB is more commonly known as the TEndermint team which Kwon as a co-founder and CEO will now give up. Kwon said that he proposed his position to be completely removed from the bylaws because the role is a problem:
 “I’m not the problem; the CEO role is. All in Bits, DBA Tendermint, will be a company that adopts radical transparency and radically new social norms that enable expression and psychological safety, be defining a new system of Process and Culture of Openness. Cosmos is good, keep it good. But don’t trust anyone, and don’t worship heroes, nor any steward without skin in the game, it’s mostly about structural incentives.”
His decision doesn’t mean that he will be abandoning the project at all but that he will step down once his transitions plans get finalized so he can serve as a council member of the ICF. He said he won’t be leaving even though the project is doing well without him he said that he will focus on Virgo in order to bring more people to the Cosmos ecosystem while helping Cosmos remain a sub-mission. Virgo is a foundation that wants to provide the world with the best open collaboration technology.
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