Cosmos (ATOM) Market Capitalization Hits $1.16 Billion

Cosmos (ATOM) traded 0.5% lower against the dollar during the 24 hour period ending at 9:00 AM E.T. on January 24th. One Cosmos coin can now be bought for about $2.37 or 0.00002647 BTC on major cryptocurrency exchanges. Cosmos has a market cap of $1.16 billion and approximately $41.45 million worth of Cosmos was traded on exchanges in the last 24 hours. In the last week, Cosmos has traded down 8% against the dollar.

Here is how similar cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded up 1.6% against the dollar and now trades at $0.0929 or 0.00000104 BTC.
• Avalanche (AVAX) traded 0.6% lower against the dollar and now trades at $12.10 or 0.00013538 BTC.
• Hedera (HBAR) traded 1.1% lower against the dollar and now trades at $0.11 or 0.00000121 BTC.
• Internet Computer (ICP) traded 1.2% lower against the dollar and now trades at $3.51 or 0.00003931 BTC.
• NEAR Protocol (NEAR) traded down 1.6% against the dollar and now trades at $1.50 or 0.00001681 BTC.
• Algorand (ALGO) traded down 1.1% against the dollar and now trades at $0.12 or 0.00000134 BTC.
• Fetch.ai (FET) traded down 1.4% against the dollar and now trades at $0.23 or 0.00000260 BTC.
• PayProtocol Paycoin (PCI) traded up 10.7% against the dollar and now trades at $0.0854 or 0.00000095 BTC.
• Theta Fuel (TFUEL) traded 1.4% higher against the dollar and now trades at $0.0183 or 0.00000021 BTC.
• Akash Network (AKT) traded 1.1% lower against the dollar and now trades at $0.43 or 0.00000476 BTC.

About Cosmos

Cosmos uses the hashing algorithm. Its launch date was September 3rd, 2016. Cosmos’ total supply is 489,476,380 coins. The official website for Cosmos is cosmos.network. Cosmos’ official message board is blog.cosmos.network. Cosmos’ official Twitter account is @cosmos and its Facebook page is accessible here. The Reddit community for Cosmos is https://reddit.com/r/cosmosnetwork and the currency’s Github account can be viewed here.

According to CryptoCompare, “Cosmos is a network of many independent blockchains, called zones. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountability guarantees hold over the behaviour of malicious actors. Tendermint Core’s BFT consensus algorithm is well suited for scaling public proof-of-stake blockchains.The first zone on Cosmos is called the Cosmos Hub. The Cosmos Hub is a multi-asset proof-of-stake cryptocurrency with a simple governance mechanism which enables the network to adapt and upgrade. In addition, the Cosmos Hub can be extended by connecting other zones. The hub and zones of the Cosmos network communicate with each other via an inter-blockchain communication (IBC) protocol, a kind of virtual UDP or TCP for blockchains. Tokens can be transferred from one zone to another securely and quickly without the need for exchange liquidity between zones. Instead, all inter-zone token transfers go through the Cosmos Hub, which keeps track of the total amount of tokens held by each zone. The hub isolates each zone from the failure of other zones. Because anyone can connect a new zone to the Cosmos Hub, zones allow for future-compatibility with new blockchain innovations. The supply won’t be limited as the project plans to introduce a yearly inflatory model.”

Buying and Selling Cosmos

It is usually not currently possible to buy alternative cryptocurrencies such as Cosmos directly using U.S. dollars. Investors seeking to acquire Cosmos should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cosmos using one of the exchanges listed above.

ATOM/USD price chart by TradingView