Cosmos’ growth despite the crypto winter could mean this for ATOM in 2023

• Osmosis launches new stableswap on the Cosmos Hub community
• The TVL for Cosmos declines alongside its weighted sentiment

The present state of the crypto market has created an excessive amount of uncertainty within the business. Nonetheless, regardless of the FUD, Osmosis, a DEX on the Cosmos [ATOM] ecosystem, has continued to construct and introduced a brand new stableswap.

Feelin’ secure?https://t.co/PrLipLjmH2

— Osmosis 🧪 (@osmosiszone) December 16, 2022

  Learn Cosmos’ [Atom] Worth Prediction 2023-2024

The launch of the stableswap would enable stablecoins on the community to be traded with minimal value affect.

The DeFi angle

Regardless of the launch of this stableswap and different updates on the Cosmos ecosystem, its complete worth locked (TVL) continued to say no. In line with DefiLlama, Cosmos’s TVL fell from $416,365 to $356,492 prior to now month.

Supply: DefiLlama

Regardless of the decline within the TVL for Cosmos Hub, it continued to develop on the social entrance. The social mentions and engagements spiked, which could possibly be attributed to the developments being made on the ecosystem.

Information gathered from LunarCrush, a social analytics agency, instructed that the variety of social mentions for Cosmos Hub elevated by 7.2% over the past week. Moreover, the variety of social engagements for the Cosmos Hub grew by 1%.

Regardless of the rising social exercise of Cosmos Hub, its weighted sentiment continued to say no closely. 

In line with information offered by Santiment, the sentiment towards Cosmos had been damaging all through the final month. This indicated that the quantity of people that have been talking negatively about ATOM far outweighed the quantity of people that had a optimistic outlook on the token.

Supply: Santiment

Taking a look at Cosmos, on-chain

Though there was loads of damaging sentiment surrounding ATOM, the variety of transactions witnessed an enormous spike over the previous few days.

In line with ATOMScan, the whole variety of transactions made with ATOM reached 251,520.

Supply: ATOMScan

Together with the spike within the variety of transactions, ATOM’s quantity grew as properly. Moreover, as per information gathered from Santiment, ATOM’s quantity elevated from 130 million to 150.76 million prior to now month.

Furthermore, though there was a decline in growth exercise over the previous few weeks, the variety of contributions being made by its GitHub crew dwindled considerably. 

Supply: Santiment

On the time of writing, ATOM was buying and selling at $8.75. Its value declined by 4.46% within the final 24 hours, whereas its volatility decreased by 47% over the past seven days, making ATOM a much less dangerous funding than typical.