Should you invest in ATOM before the launch of the Sagan blockchain?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Oct 20, 2021
  • Cosmos has announced the launch of a new blockchain known as Sagan.
  • This network is aimed to allow developers to experiment with different protocols.
  • Cosmos has been growing following its launch of the inter-blockchain communication protocol.

Cosmos ATOM/USD is the cryptocurrency that powers the ecosystem of blockchains, all of which are designed to scale and interoperate with one another with ease.

The Sagan blockchain announcement as a catalyst for growth

On October 6, we covered how the Inter Blockchain Communication Protocol led to an increase in the growth of the blockchain network, which logged more than 1 million transfers.

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As such, we can see that ever since the launch of the Inter Blockchain Communication Protocol back in March, Cosmos has been growing due to the fact that it allows crypto assets to be transferred easily between compatible blockchain networks.

The Cosmos cross-chain network has started work on a new blockchain that allows developers to experiment with different protocols.

On the quarterly keynote, which got published on Tuesday, Cosmos mentioned that the Sagan blockchain is currently developing.

This Sagan announcement comes when Cosmos is also working on rollup scaling technology to allow developers to build Cosmos-based blockchains in the form of rollups, which can be deployed as clusters.

In any case, for the time being, we do not really know when Sagan will be released, and on the official statement, Cosmos claim that they will update us on it soon. 

In any case, this announcement marks a new era for Cosmos, where we can expect a lot of improvements and innovations going forward, all of which can contribute to the growth of the price of the ATOM token.

Should you invest in Cosmos (ATOM)?

On October 20, Cosmos (ATOM) had a value of $33.96.

In order to get a perspective as to exactly what kind of value point this is for the token, we will be going over its all-time high value as well as its recent performance in September.

ATOM experienced its all-time high value on September 20, when the token raised its value to $44.42.

That marks the highest point of value in September; however, when it comes to the lowest point, it was on September 8, when the token had a value of $19.33.

In other words, from September 8 to September 20, the ATOM token raised its value by $25.09 or by 129%.

That said, from September 20 to October 20, the token fell in value by $10.46 or by 23%.

With this latest addition, we can expect ATOM to reach a value of $42 by the end of October, making it a solid investment opportunity.

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