Terra’s Mars Protocol launch boosts Cosmos Hub’s DeFi potential. However, there was declining revenue and staker interest in Cosmos network despite TVL growth. In an announcement on January 20, Terra [LUNC] stated that it would launch its lending protocol, known as Mars Protocol, on Cosmos Hub‘s network. This move could have a positive impact on […]
token. According to data from Santiment, the volume of ATOM fell from 611 million to 225 million in the last month. This decline in volume could indicate a lack of interest in the token, thereby affecting its total value.However, ATOM’s development activity increased during this period. The number of contributions being made by developers on Atom’s GitHub grew.
Additionally, according to Coinglass, a majority of the top traders were optimistic about ATOM’s future, as 51.2% of the traders decided to go long on the token at press time.The price of ATOM at the time of writing was $13.37, having increased by 2.38% in the last 24 hours. While the launch of the Mars Protocol could bring new opportunities to the Cosmos network, it remains to be seen if it will be enough to overcome the decline in revenue and stakers and revive interest in the ATOM token.
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