While top coins retraced a bearish trend and lost most of their weekly gains, Cosmos (ATOM) held on by 18.29% last week. Besides ATOM’s 1.0% price decline on March 12, it recorded successive rallies over the past seven days.
Cosmos climbed by as much as 5% in Wednesday’s session, as the token remained close to a multi-week high. Cryptocurrency markets consolidated recent gains in today’s session, with the global market cap down by 0.24% as of writing. Solana continued to trade above $20.00, as prices consolidated.
Cosmos [ATOM] saw a large move upward initiated in June. Yet, even these gains came after the asset lost 80% of its value from April to early June. Therefore, long-term investors must temper their bullish expectations.
Osmosis, a DeFi project on the Cosmos blockchain, could be imperative for the latter’s growth in the DeFi space. This was because Osmosis managed to take a lead among DeFi protocols, such as MakerDAO and Lido in terms of development activity over the last few days.