Will ATOM be affected with Osmosis’ move to Bitcoin? Assessing…

Will ATOM be affected with Osmosis' move to Bitcoin? Assessing...

Osmosis’ security would be working through checkpoints on the network. These checkpoints would be sent to Bitcoin through the Babylon chain, which would then be time-stamped by the network. Finally, other Cosmos zones will read these timestamps.

Despite Osmosis’ attempts to improve its ecosystem through security, the TVL of the network continued to decline. Over the last week, the total value locked by the Osmosis protocol declined from $214.19 million to $190.6 million, according to DeFi Llama. The declining TVL of Osmosis impacted the revenue generated by the protocol, which ended up decreasing.Even though Osmosis wasn’t able to show growth in terms of revenue collection, the Cosmos Hub protocol’s revenue remained unaffected.

Despite the struggles of its most prominent DEX, the activity on the Cosmos Hub increased massively. This could be why Cosmos witnessed growth in revenue collection.Even though the Cosmos Hub protocol showed growth, the same could not be said for its native cryptocurrency, ATOM. Its price fell by 4.93% over the last month. Consequently, ATOM’s volume decreased as well, as it fell from 502.11 million to 119.91 million in the last month, according to Santiment.

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