Cosmos jumps 12% as crypto market recovers

Cosmos (ATOM), the token powering the eponymous blockchain network, is up 12.7% over the past 24 hours.

ATOM, the 27th-largest cryptocurrency with a market capitalization of $3.2 billion, is currently trading at $11.45, according to data from CoinMarketCap.

ATOM still trades 74% down from its all-time high of $44.70 recorded in September 2021.

ATOM’s total trading volume hovers around $327 million over the past 24 hours, 11% up from the previous trading day.

Cosmos is a decentralized network of independent parallel blockchains each powered by Byzantine Fault Tolerance (BFT) consensus algorithms. It also allows developers to develop their own blockchains and allows all Cosmos-based blockchains to interact with one another.

There are a total of 49 tokens operating in the Cosmos ecosystem and 28 InterBlockchain Communication (IBC) enabled blockchains deployed as well.

A total of 265 apps and services support the cosmos ecosystem including blockchains, wallets, and explorers, according to data from Cosmos.

The total value locked (TVL) in Cronos, the largest protocol by TVL in the ecosystem, increased by 2.16% to $2.32 billion over the past 24 hours.

Meanwhile, the largest cryptocurrency on the market, Bitcoin, is up 4% over the past 24 hours and currently trades at around $30,187.

Ethereum is up 4.4% over the past 24 hours and currently changing hands at $2,026.