The phoenix rises from the ashes! Some alt L1s that were previously overlooked have roared in the latter part of the latest market rally. One was Avalanche (AVAX). The other is our good friend, the native token with zero utility, Cosmos (ATOM).
Rather than re-post a bunch of background information about the "Internet of Blockchains," I direct you all to watch this excellent recent (as of December 2023) overview on YouTube by VirtualBacon of the Cosmos ecosystem if you aint familiar:
https://www.youtube.com/watch?v=H5uS10unpCI
The Solana ecosystem airdrops have whet the public's appetite, and rumors of airdrops looming on Cosmos chains have gained plenty of steam. Even as the rest of the market traded sideways or dipped, for the last two weeks Cosmos tokens like Celestia, Injective, Osmosis, Akash, and a host of others have risen, outperforming other chains' token price by magnitudes. This is all happening as on-chain activity for each project is leveling-up with many new features being shipped.
In the last bull run, Cosmos developed a reputation for being a dev magnet, with different projects innovating at speeds not seen before in the crypto space. Perhaps the spectacular crash of some of its biggest projects was a mixed blessing that led to flushing out the hype and leaving behind the truest believers and builders. It works out that way sometimes. Show Less
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