Cosmos (ATOM) Market Cap Tops $2.91 Billion

Cosmos (ATOM) traded down 5.7% against the U.S. dollar during the 1-day period ending at 13:00 PM ET on May 14th. One Cosmos coin can currently be bought for approximately $10.16 or 0.00034496 BTC on major cryptocurrency exchanges. During the last seven days, Cosmos has traded down 40.4% against the U.S. dollar. Cosmos has a total market capitalization of $2.91 billion and approximately $379.16 million worth of Cosmos was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed during the last day:

  • Wrapped Bitcoin (WBTC) traded down 2.2% against the dollar and now trades at $29,394.30 or 0.99761536 BTC.
  • Techpay Coin (TPC) traded down 1.5% against the dollar and now trades at $0.28 or 0.00000934 BTC.
  • Function X (FX) traded down 2.5% against the dollar and now trades at $0.24 or 0.00000817 BTC.
  • Creditcoin (CTC) traded 13.4% lower against the dollar and now trades at $0.43 or 0.00001446 BTC.
  • Nestree (EGG) traded down 1.5% against the dollar and now trades at $0.0230 or 0.00000078 BTC.
  • Venus (XVS) traded down 1.6% against the dollar and now trades at $4.39 or 0.00014902 BTC.
  • mStable USD (MUSD) traded flat against the dollar and now trades at $1.00 or 0.00003391 BTC.
  • Redd (RDD) traded flat against the dollar and now trades at $0.0011 or 0.00000008 BTC.
  • Phantasma (SOUL) traded up 6.9% against the dollar and now trades at $0.29 or 0.00000968 BTC.
  • Tranchess (CHESS) traded 0.7% lower against the dollar and now trades at $0.25 or 0.00000855 BTC.

About Cosmos

ATOM is a PoW/PoS coin that uses the Scrypt hashing algorithm. Its genesis date was September 3rd, 2016. The Reddit community for Cosmos is /r/cosmosnetwork and the currency’s Github account can be viewed here. Cosmos’ official Twitter account is @cosmos. The official message board for Cosmos is blog.cosmos.network. Cosmos’ official website is cosmos.network.

According to CryptoCompare, “Cosmos is a network of many independent blockchains, called zones. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountability guarantees hold over the behaviour of malicious actors. Tendermint Core’s BFT consensus algorithm is well suited for scaling public proof-of-stake blockchains. The first zone on Cosmos is called the Cosmos Hub. The Cosmos Hub is a multi-asset proof-of-stake cryptocurrency with a simple governance mechanism which enables the network to adapt and upgrade. In addition, the Cosmos Hub can be extended by connecting other zones. The hub and zones of the Cosmos network communicate with each other via an inter-blockchain communication (IBC) protocol, a kind of virtual UDP or TCP for blockchains. Tokens can be transferred from one zone to another securely and quickly without the need for exchange liquidity between zones. Instead, all inter-zone token transfers go through the Cosmos Hub, which keeps track of the total amount of tokens held by each zone. The hub isolates each zone from the failure of other zones. Because anyone can connect a new zone to the Cosmos Hub, zones allow for future-compatibility with new blockchain innovations. The supply won’t be limited as the project plans to introduce a yearly inflatory model.  “

Cosmos Coin Trading

It is usually not possible to buy alternative cryptocurrencies such as Cosmos directly using U.S. dollars. Investors seeking to trade Cosmos should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cosmos using one of the exchanges listed above.

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