The majority of the altcoin market has suffered in recent months as US investors exit positions before being booted from the main Binance platform.
The fallout from Binance’s decision to eliminate US traders and sequester them to their own platform has had significant ramifications on both the exchange’s altcoin liquidity and, as a result, the prices of the majority of its listed altcoins.
As described by Binance, “Cosmos is a highly forward-looking cross-chain blockchain project that aims to achieve a ‘blockchain-based internet’ based on token transfer and to construct a deeply integrated token economy ecosystem.”
The altcoin has mostly been in freefall mode since launching earlier this year, largely due to the fact that it was listed with a whopping $1 billion market cap. However, the price has shown strength lately after apparently bottoming out.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.