Again, this level is not a foregone conclusion, and calling bottoms is incredibly difficult. While it is not for certain, Bitcoin’s last cycle saw a dip of roughly 80% – so if this pattern is repeated the BTC bottom would not hit until roughly $12,000 per coin. Bitcoin dropped below $20,000, and most altcoins, including Cosmos, have followed this move downward. To some, the drop means a buying opportunity others see the dip continuing. With lots of fear in the crypto market, prices have receded. However, with fast transactions and low fees becoming the norm for new Layer 1s – was the dYdX news bullish enough to make now a good time to buy Cosmos? Is Now a Good Time to Buy Cosmos? The interchain is described on the Cosmos website as “an innovation that enables you to freely exchange assets and data across sovereign, decentralized blockchains” via Cosmos. At the center of the Cosmos Network is the Cosmos Hub, a blockchain that provides vital services, including securing the network and exchange capabilities to the Cosmos’ interchain.
![macro cosmos macro cosmos](https://image.slidesharecdn.com/microtomacrocosmos-130121064030-phpapp01/95/micro-to-macro-cosmos-36-638.jpg)
![macro cosmos macro cosmos](https://thumbs.dreamstime.com/b/macro-cosmos-flower-beautiful-purple-52813517.jpg)
Cosmos also has incredibly low fees and fast transaction speeds – with fees of $0.01 and transaction finality of just a few seconds.Ĭurrently, there are over 255 apps and services operating in the Cosmos ecosystem, totaling over $46 billion worth of digital assets. Now could be the best time to buy Cosmos if more monolithic platforms move to the network.Ĭosmos uses a proof-of-stake (PoS) consensus method to secure the chain, leaving a significantly smaller carbon footprint than blockchains operating on a proof-of-work (PoW) consensus. The recent announcement from decentralized exchange dYdX – leaving the Ethereum ecosystem for Cosmos – could be seen to some that Cosmos’ claims are valid. Bold statements such as these are not unusual in crypto what is unusual is for the blockchain to actually live up to the potential of the technology that it boasts. It claims its blockchain is gen 3.0, built on Bitcoin (gen 1.0) and Ethereum (gen 2.0).
![macro cosmos macro cosmos](https://shotstash.com/wp-content/uploads/2018/11/cosmos-flower-macro.jpg)
The Cosmos network refers to itself as the internet of blockchains. Looking to buy Cosmos (ATOM)? Luckily, it’s offered by multiple fantastic exchanges including Coinbase!