The daily active users of Cosmos are constantly increasing, leaving Bitcoin and Ethereum far behind. What is causing this increase?The active users of Comsos have increased by 182% in the past 30 days
The daily active users of Cosmos are constantly increasing, leaving Bitcoin and Ethereum far behind. What is causing this increase?
- The active users of Comsos have increased by 182% in the past 30 days.
- As of the time of publication, the project is changing market sentiment.
According to TokenTerminal data, the daily active users on Cosmos [ATOM] have increased by 182% in the past 30 days. Therefore, compared to Bitcoin [BTC], Ethereum [ETH], and Coinbase's L2Base, the number of active addresses is growing faster.
It seems necessary to compare Cosmos with Bitcoin and Ethereum, as in short, they are the top two blockchains in the rankings. For Base, it has been widely adopted since its launch.
However, the hype and activities surrounding Base have significantly decreased. In fact, TokenTerminal shows a 12.5% decrease in daily active users for this project.
Daily active users can provide important information about the health status of the internet. In addition to serving as an indicator of user adoption rate, this indicator can also indicate changes in market sentiment. Sometimes, it can also have a significant impact on token prices.
More data transmission, more growth
Surprisingly, Cosmos' native token ATOM did not feel the impact of active user growth. As of the time of publication, the price of ATOM was $7.02- similar to the price 30 days ago.
One of the factors affecting growth may be related to the expansion of the blockchain to blockchain communication (IBC) protocol in the Coin Security smart chain. IBC is an open source protocol designed to handle data mobility between blockchains.
According to AMBCrypto's report a few weeks ago, this expansion will also provide more opportunities for those involved in pledging ATOM. In addition, Cosmos is also producing movies to ensure its long-term presence on the blockchain list with a good level of development activity.
The project seems to be utilizing its builder's plan to achieve this effect.
Emotional rampage
Interestingly, Santiment's data indicates that Comsos' efforts are paying off, as indicated by development activity indicators. Development activities demonstrate the commitment of developers to ensuring the normal operation of the network.
As of press release, Cosmos' development level has jumped to 16.22. This means that the number of features provided through this project has increased. Cosmos' market awareness has also experienced fluctuations.
To measure perception, the on chain platform Santiment uses weighted emotional indicators. This indicator tracks positive/comments on projects through social media platforms.
The increase in weighted emotions means a surge in positive comments. On the contrary, reducing means increasing negative perceptions.
From the above data, Cosmos' emotional weight is 0.365. From the chart, as of the time of publication, most of the comments on the project were positive. However, optimism seems to be weakening.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
