Alt Coin

Analyst Says One Altcoin Project Will Explode This Year, Mirror Rise of Ethereum Competitors Solana (SOL) and Avalanche (AVAX)

A carefully adopted crypto dealer is eyeing an interoperability ecosystem to probably have a breakout yr.

In a tweet laying out his common 2022 predictions, the pseudonymous analyst often called Altcoin Psycho highlights Cosmos (ATOM) as his decide to soar like layer-1 sensible contract platforms Avalanche (AVAX) and Solana (SOL) did final yr.

The analyst subsequent discusses Osmosis (OSMO), the decentralized change (DEX) that was constructed for Cosmos. He follows up on a June 2021 tweet the place he referred to Osmosis as a “catalyst for Cosmos ecosystem” to tell his 390,500 followers,

“Osmosis new [all-time high] at the moment, and now #76-highest market cap.

Wonder what occurs subsequent.”

OSMO hit a brand new excessive at the moment of $8.60. The altcoin launched final summer time above $4.50, skilled a selloff to as little as $1.24 in July earlier than working to a September excessive of $7.38. Osmosis has since skilled uneven price motion earlier than breaking out from the $4 stage beginning in mid-December.

Altcoin Psycho concludes his dialogue with a phrase of advice to each skeptics and supporters of Cosmos, citing the entry to airdrops that token holders could have.

“Regardless of your thoughts on ATOM, the exposure you’ll have to airdrops by holding it this year is pretty wild.”

Cosmos simply hit a complete worth locked (TVL) milestone, ranking second behind Osmosis with over $277 million in liquidity.

Source: Osmosis

At time of writing, ATOM is down 5.72% on the day to $40.01. The Twentieth-ranked crypto asset started its personal rally in mid-December, climbing from the $20 vary to over $42 to begin the brand new yr. The altcoin reached an ATH of $44.42 again in September.

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Featured Image: Shutterstock/Floral Resources/karnoff/Tun_Thanakorn/Nikelser Kate

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