Gateway By Wormhole Foundation Connects 20+ Blockchains To Cosmos

The Wormhole Foundation announced the introduction of a novel application-specific blockchain (appchain) into the Cosmos (CRYPTO: ATOM) ecosystem. In a recent blog post by Wormhole, the company revealed the newly launched blockchain, named Gateway, aims to simplify the process for developers and users to introduce tokens to any Cosmos chain.

Timeline of Cosmos

Stride, a provider of liquid staking tokens in the Cosmos ecosystem, successfully transitioned to the Cosmos Hub's Interchain Security (ICS) at block 4616678, which was reached Wednesday at 3:20 pm ET.

Cosmos Stride, the eco-liquidity staking protocol, has announced its plans to transition from the existing Stride token model (STRD) to the Cosmos Interchain Security (ICS) system, which is backed by the ATOM token.

Kava blockchain will facilitate USDT's launch on interchain. This development will not only make it easier for DeFi users to transfer funds from one chain to another, but also make it more cost efficient.

Japan, known for its technological advancements and progressive regulatory environment, is making significant strides in the cryptocurrency landscape. In a groundbreaking partnership, the country's largest banks have joined forces to bring stablecoins to the Cosmos ecosystem.

TOKI, a cross-chain bridge provider and partner of Progmat, will be working with Noble, a token issuance protocol, to bring fully collateralized Japanese stablecoins to the Cosmos ecosystem.

The rejection from $10 for Cosmos combined with Bitcoin's reluctance to climb back above $30.8k suggested that bulls could lose their grip on the market upon a price drop below $9.1.

Based on the latest data, we see that crypto Cosmos (ATOM) is trying to recover the psychological level of $10. However, some fundamental and technical indicators are not aligned, raising doubts about its ability to break above $10 in the short term.

Monero continued to climb during Monday's session, as the token surged to its highest point since February. The move comes as the global crypto market cap was marginally higher on the first working day of June. Cosmos also extended recent gains, hitting a one-month high in the process.

Neutron, launched as a cutting-edge interchain technology, is envisioning to grow within the Cosmos ecosystem. In May, Neutron underwent an on-chain vote in favor of its launch on the Cosmos network.

Agoric, a blockchain network built on Cosmos, aims to empower developers in building DeFi applications using JavaScript. As part of its continuing development, the network is launching a minting application built on top of the Inter Protocol called Vaults.