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Venture capitalist Arthur Cheong says he\u2019s \u201cpretty bullish\u201d on the Cosmos (ATOM<\/a>) ecosystem amid recent developments.<\/p>\n The DeFiance Capital founder and CEO says<\/a> on the social media platform X that dYdX\u2019s (DYDX<\/a>) migration will increase the Cosmos ecosystem\u2019s total value locked (TVL) and bring \u201chuge amounts\u201d of activity.<\/p>\n TVL refers to the amount of capital deposited within a protocol\u2019s smart contracts and is often used to gauge the health of a crypto ecosystem.<\/p>\n DYdX, a decentralized exchange (DEX), migrated from Ethereum (ETH<\/a>) to Cosmos and launched<\/a> its own dYdX Chain last month.<\/p>\n The new chain was developed as a standalone blockchain based on the Cosmos SDK (software development kit) and Tendermint consensus protocol.<\/p>\n In an\u00a0announcement, dYdX says<\/a> Cosmos was the only chain that could offer complete customizability for building chains according to the DEX\u2019s precise needs.<\/p>\n Cheong also predicts that $200 million worth of the stablecoin USDC<\/a> issued by the app chain Noble will come to the Cosmos ecosystem.<\/p>\n Noble USDC became available<\/a> for developers and users of the Cosmos ecosystem in September. USDC, the second-largest stablecoin market cap, aims to maintain a 1:1 peg to the US dollar.<\/p>\n Cosmos is an interoperable blockchain ecosystem. The project\u2019s native token, ATOM, is trading at $$8.57 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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