Cosmos-Based Altcoin Skyrockets by More Than 58% in One Week Amid New Upgrade and Oracle Integration
A Cosmos (ATOM)-based altcoin that’s flying under the radar is surging on the heels of a new upgrade and integration.
Evmos (EVMOS) is trading at $0.444 at time of writing and is up over 58% from its weekly low of $0.281.
Evmos aims to bring Ethereum-based applications and assets to the interoperable networks of the Cosmos ecosystem.
Earlier this week, Evmos upgraded to its v.10.0.
Explains the project,
“The building blocks for interchain dApp development are here (with more on the way). This tooling enables development of user-friendly dApps. The sky’s the limit not only for our wonderful community of developers, but also for other ecosystems joining the Interchain.
Starting with one of the most useful features, automatic ERC<>IBC [inter-blockchain communication] asset conversion is now live! No longer will users need to convert their Cosmos assets into their respective EVM [Ethereum virtual machine] asset types and vice-versa. This will be done under the hood for users!
This can be applied on the user-facing side for bridging assets to Evmos, in addition to serving as a useful tool for developers to abstract away the complexity of incorporating liquidity from EVM and Cosmos chains within their dApps (e.g. one click to bridge and liquidity pools).”
Evmos also recently integrated Adrastia’s oracle solution to enable a price data feed.
Despite the gains this week, EVMOS remains down more than 93% from its all-time high of $6.84, which it hit in April 2022.
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