<\/p>\n
- \n
- Comsos\u2019 active users increased by 182% in the last 30 days.<\/em><\/li>\n
- The project was shifting market sentiment at press time.<\/em><\/li>\n<\/ul>\n
Over the last 30 days, Daily Active Users on <\/span>Cosmos [ATOM]<\/span><\/a> grew by 182%, data by Token Terminal revealed. Thus, the number of active addresses grew at a faster pace compared to <\/span>Bitcoin [BTC]<\/span><\/a>, <\/span>Ethereum [ETH]<\/span><\/a>, and Coinbase\u2019s L2 Base<\/a>.<\/span><\/p>\n
\nRealistic or not, here\u2019s <\/span>ATOM\u2019s market cap in BTC\u2019s terms<\/span><\/a><\/p>\n
\nIt seemed necessary to compare Cosmos to Bitcoin and Ethereum because they are the top two blockchains, in a nutshell. For Base, since its introduction, it has amassed <\/a>a lot of adoption.<\/p>\n
However, the hype and activity around Base has dropped significantly. In fact, Token Terminal showed that the project\u2019s Daily Active Users reduced by 12.5%.<\/span><\/p>\n
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Protocols w\/ the biggest 30d uptick in daily active users:<\/p>\n
1. @cosmoshub<\/a> 182.0%
2. @CeloOrg<\/a> 43.8%
3. @PancakeSwap<\/a> 31.6% pic.twitter.com\/B675rs2aOc<\/a><\/p>\n\u2014 Token Terminal (@tokenterminal) October 28, 2023<\/a><\/p>\n<\/blockquote>\n
The Daily Active Users can offer vital information about a network\u2019s health. Aside from being a metric that measures user adoption, the metric can indicate a shift in market sentiment. Sometimes, it also has a big impact on <\/span>token prices<\/span><\/a>.<\/span><\/p>\n
More data transport, more<\/b> growth<\/b><\/h4>\n
Surprisingly, Cosmos\u2019 native token ATOM did not feel the impact of the active user growth. At press time, the ATOM\u2019s value was $7.02\u2014 a similar price it was 30 days back.\u00a0<\/span><\/p>\n
One of the factors that influenced the increase could be linked to the Inter-Blockchain Communication (IBC) protocol expansion to the Binance Smart Chain. The IBC is an open-source protocol developed to handle the movement of data between blockchains.<\/span><\/p>\n
Based on AMBCrypto\u2019s <\/span>report<\/span><\/a> a few weeks ago, the expansion would also offer more opportunities for those involved in staking ATOM. Besides that, Cosmos is also making movies to ensure that it lasts long in the list of blockchains with a good level of development activity. <\/span><\/p>\n
The project seems to be using its <\/span>builders\u2019 program<\/span><\/a> to this effect.<\/span><\/p>\n
Sentiment goes sideways<\/b><\/h4>\n
Interestingly, Santiment\u2019s data showed that the efforts are paying off for Comsos, as <\/span>indicated<\/span><\/a> by the Development Activity metric. Development Activity shows the commitment of developers to ensure the proper functioning of a network.<\/span><\/p>\n
At press time, Cosmos\u2019 development had jumped to 16.22. This means that there has been an increase in the number of features shipped via the project. Cosmos also experienced an up-and-down trend in terms of market awareness.<\/span><\/p>\n
- The project was shifting market sentiment at press time.<\/em><\/li>\n<\/ul>\n
![\"Comsos](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Cosmos-ATOM-07.59.28-29-Oct-2023.png\")
<\/a><\/p>\n