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The expanding Cosmos: Here’s why Osmosis (OSMO) hit a new all-time high

Published 01/12/2022, 04:05 PM
Updated 01/12/2022, 05:40 PM

Crypto assets within the Cosmos ecosystem have been on a run since the start of 2022, thanks to an intensified focus on brokering cross-chain compatibility with other blockchains. One decentralized finance (DeFi) protocol that has benefited from the current expansion plans is Osmosis (OSMO).

Osmosis is the first decentralized exchange (DEX) servicing projects connected through the Interblockchain Communication Protocol (IBC) and data from Cointelegraph Markets Pro show OSMO price surged 123% from a low of $4.05 on Dec. 17 to a new all-time high at $9.24 on Jan. 7.

OSMO/USD 1-day chart. Source: CoinGecko
OSMO price vs. DEX trading volume. Source Token Terminal
Total value locked on Osmosis. Source: Defi Llama

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