Venture Capitalist Predicts Success for Cosmos Ecosystem
Venture capitalist Arthur Cheong is optimistic about the future of the Cosmos (ATOM) ecosystem. He believes that recent developments, including the migration of dYdX (DYDX) to Cosmos, will increase the total value locked (TVL) in the ecosystem and attract significant activity.
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is used as an indicator of a crypto ecosystem’s health. By migrating from Ethereum to Cosmos and launching its own dYdX Chain, the decentralized exchange dYdX has contributed to the growth of Cosmos.
Cheong also predicts that Noble, an app chain on Cosmos, will bring $200 million worth of its native stablecoin USDC to the ecosystem. This influx of USDC will further strengthen the Cosmos ecosystem.
About Cosmos and ATOM
Cosmos is an interoperable blockchain ecosystem that allows different blockchains to communicate with each other. Its native token is called ATOM, which is currently trading at $8.57. With its customizable chains and growing ecosystem, Cosmos has gained attention from investors and developers in the crypto space.
Hot Take: Positive Outlook for Cosmos
The recent developments in the Cosmos ecosystem, including dYdX’s migration and the potential influx of USDC from Noble, have generated excitement among crypto investors. Arthur Cheong’s bullish stance on Cosmos reflects the growing confidence in its potential for success. As more projects join the ecosystem and contribute to its growth, Cosmos could become a prominent player in the blockchain industry.
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