Cosmos (CCC:ATOM-USD) surged 25% in trading today to a new all-time high just over $32. ATOM-USD has since retreated slightly from the peak of $32.05 to $29.22 at the time of writing.
Cosmos is a platform for streamlining transactions between different blockchains, such as Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD). Dubbed the “Internet of blockchains” by its founders, Cosmos uses a proof of stake blockchain with Byzantine Fault Tolerance. ATOM is the coin that powers it all.
Cosmos solves the interoperability challenge for digital currencies, i.e. the need for two digital currencies to have compatible technologies and protocols in order to interact. Its Inter-Blockchain Communication protocol lets users exchange assets from one blockchain to another. Cosmos also provides tools for developers to easily build their own blockchain applications on the Cosmos network.
ATOM is the blockchain’s native coin and is primarily used to reward validators and for staking. There is no specific limit on the supply of ATOM. The number of tokens created is based on the number of ATOM being staked, which leads to “an annual inflation rate of anywhere between 7% and 20%.”
With Cosmos currently trading around $29, where does ATOM-USD go from here?
Cosmos (ATOM) Price Predictions
- Back on April 18, FXStreet said a “decisive close” above $22.62 would forecast a rally that would push ATOM to $41.66.
- Gov Capital has a Cosmos (ATOM) price prediction of $46.58 by the end of the year and a five-year price target of $191.90.
- Coinpedia has an optimistic Cosmos (Atom) price prediction, saying the coin could surpass $30 and even reach $50 before the end of 2021. They go on to say ATOM-USD will likely reach $40 by the end of 2022 and $63 to $67 by 2025.
- Wallet Investor has a one-year forecast of $56.90 and a five-year forecast of $191.24 for Cosmos.
- Trading Beasts predicts Cosmos will end the year at $22.77 and reach $39.18 by the end of 2024.
- Digital Coin Price has a Cosmos (ATOM) price prediction of $43.67 by the end of 2021 and $90.08 by the end of 2025.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.