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.
Cosmos Tendermint Labs Director Resigns Due To Untenable CEO
“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 Staking Options Are Now Available On Anchorage
“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.
Cosmos CEO Steps Down From His Role At The Company
“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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