Cosmos releases 2024 roadmap; ATOM reacts
Journalist
Posted:
- The key deliverables for expanding IBC included decoupling ibc-go from the Cosmos SDK.
- ATOM was up by more than 14% over the last week, and metrics looked bullish.
Internet of Blockchains Communications (IBC), better known as Cosmos [ATOM], recently published its roadmap for the upcoming year. The post mentioned all the notable plans and projects in the pipeline that the blockchain will execute in 2024.
How much are 1,10,100 ATOMs worth today?
While Cosmos revealed its roadmap, its native token’s price action turned bullish as well.
Cosmos’ 2024 roadmap in a nutshell
Cosmos posted a tweet on 18 September, highlighting all the major plans for the blockchain’s future in 2024. Notably, the tweet mentioned that IBC has facilitated 52 million transfers of $29 billion in value across more than 100 chains in the last 12 months.
1/ Introducing the #IBC 2024 Roadmap 💥
Let’s dive into the future of the Inter-Blockchain Communication Protocol!
A future where diverse blockchain ecosystems are united through seamless interoperability, where secure, reliable, and trust-minimized communication is the norm 👇 pic.twitter.com/KAzQniuPac
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) September 18, 2023
Over the next year, the key deliverables for expanding IBC include decoupling ibc-go from the Cosmos SDK, scoping generic ibc-go, OP Stack integration, and integrating ibc-rs with the Sovereign SDK for ZK rollup compatibility.
As per the tweet, all of these align with the objectives to broaden IBC’s reach and generalisability.
Mentioning usability, the IBC teams plan to work on enabling multi-packet atomicity and enhancing middleware by improving the transfer of arbitrary data alongside a token transfer.
The official roadmap highlighted that the blockchain will focus on four key areas: modularity, developer experience, paying down technical debt, user adoption, and go-to-market strategy.
ATOM turns bullish
While IBC released its roadmap, Cosmos’s native token ATOM managed to paint its chart bullish. In fact, the token registered double-digit growth over the last week. According to CoinMarketCap, ATOM was up by more than 14% last week.
At the time of writing, it was trading at $7.40 with a market capitalization of over $2.7 billion. Its 24-hour trading volume also surged by more than 35%, which acted as a foundation for the price uptrend.
A look at LunarCrush’s data revealed what was working in ATOM’s favor while its price surged. For instance, the token’s Altrank improved drastically.
ATOM’s performance on the social front also remained commendable, as its social engagement soared by 375% in the last seven days.
Source: LunarCrush
Read Cosmos’ [ATOM] Price Prediction 2023-24
On top of that, bullish sentiment around ATOM increased by 6%, while bearish sentiment dropped by 22%, reflecting the crypto community’s confidence in the token. Cosmos’ derivatives market also looked bullish.
While the token’s price increased, its Open Interest also went up slightly, which increased the chances of the current trend continuing.
