While the DeFi craze, which started in the summer of 2020, allowed the total locked assets in protocols to exceed $ 250 billion in about 1.5 years, it is seen that these numbers have increased significantly in blockchains other than Ethereum.
While this figure exceeds $ 1 billion in Cosmos-based Osmosis, OSMO, the own token of the Osmosis exchange, increased by 13% in the last 24 hours to $ 7.78. The last ATH of the token was $6.80 in November. As it is known, OSMO investors can stake the tokens they hold, earn profits and earn rewards, and can be the decision maker in the governance mechanism of the protocol.
Recently, users have started to switch to other blockchains due to the fact that the transaction fees in Ethereum have reached very high levels and the durations have been prolonged. Here, Osmosis joined the tokens that were the center of attention in this period. The daily average trading volume of the token was 4.1 million in July, and this figure jumped to 46.6 million in December.
Instead of transactions between users being handled by an intermediary, Osmosis performs this work through smart contracts. However, the recent increase in its price has been due to its future targets. Because the decentralized exchange plans to expand to other blockchains such as Ethereum and blockchains that are compatible with the Inter-Chain Communication (IBC) protocol.
The price of the OSMO token also broke a record, with Osmosis exceeding $1 billion in locked asset value. The token, which has been in an uptrend since mid-December, has surpassed $ 8 today.
The price of Osmosis at the time of writing is $8.39 USD, with a 24-hour trading volume of $35,483,181 USD. We update our OSMO / USD prices in real time. Osmosis has dropped percent in the last 24 hours. Instant CoinMarketCap ranking #2824, market cap not available. Circulating supply data is not available and is at its maximum. 1,000,000,000 OSMO coins. Token of the Osmosis Hub, first DEX for IBC connected coins built on the Cosmos SDK