Latest news with #CosmosSDK
Yahoo
02-05-2025
- Business
- Yahoo
ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions
The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38. The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount. This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem. Meanwhile, Figure's Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink's vision that "every asset can be tokenized." ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st. The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research's technical analysis data. Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases. The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs. ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38. The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery. Recent price movement has established a short-term uptrend with higher lows since 13:57, with the current price consolidating near $4.38-$4.39, suggesting stabilization after the earlier volatility and potential for continued upward momentum if the $4.39 resistance level can be breached. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. References: Bitcoinist, "", published April 7, 2025. Bitcoinist, "", published April 7, 2025. Blockworks, "", published April 30, 2025. CryptoNews, "", published April 24, 2025. Sign in to access your portfolio
Associated Press
13-03-2025
- Business
- Associated Press
Axelar Integrates Elys Blockchain
Axelar\'s newest Cosmos ecosystem integration expands Elys\' vision for user-friendly, universal DeFi. Elys, a DeFi platform built on the Cosmos ecosystem, is integrating with Axelar Network to scale its vision of better DeFi user experience (UX) enabled by chain abstraction and unified liquidity. Elys has created a DeFi hub across the Cosmos ecosystem, providing staking, swaps, liquidity mining and leveraged LP across top Cosmos assets. They're also developing key features like a perp DEX, perpetual orderbook, and prediction market. The goal is simple: access every DeFi tool you need, all in one place, across every ecosystem. To date, the platform has $3.3 million in TVL and has handled $17 million in volume over the past year ( source). Elys takes a holistic platform approach, featuring innovations such as account abstraction and smart-shielded pools to tackle challenges like impermanent loss, arbitrage inefficiencies, slippage, and high fees. Elys is changing the way DeFi users engage, uniting fragmented liquidity and pioneering a user experience that is smoother and more rewarding. 'The Cosmos ecosystem provides incredible technology to enable specialized blockchains like Elys to focus on what they do best –it\'s the same reason we chose to build Axelar using Cosmos SDK,' said Georgios Vlachos, Axelar Foundation director and Axelar protocol co-founder. 'Now that they have found product-market fit, Axelar is here to help them scale beyond the Cosmos and deliver their innovation to Web3 at large.' 'Cosmos was designed to be the Internet of Blockchains, and Axelar is extending that vision across every ecosystem in Web3. That's why we chose to build within the Cosmos ecosystem – it\'s the best place to connect with every network while allowing us to create a chain tailored to our needs using the Cosmos SDK,' said Hesham Aly, co-founder of Elys Network. 'Every road will lead to the Cosmos ecosystem, and Elys Network will make it seamless for anyone to own, use and trade whatever they want.' About Axelar Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups with a combined total value locked (TVL) that has crossed $1 billion. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: About Elys
