In the blog post below, learn more about Balanced ⬇️ — Cosmos – The Interchain ⚛️ (@cosmos) August 27, 2024 According to their blog post, Balanced adopted the IBC as a means to connect to as many chains as possible, improving on-chain scalability while providing proportional security. Impressively, the implementation phase of the IBC adoption went smoothly with developers on Balanced opened communication channels between the Balance chain and the IBC without requiring a hard fork for the network’s existing cross-chain connections.
Cosmos benefits through Balanced’s large connection pool with big names like Solana, Polygon, and many more. $1.03b in transfers and 2.3m monthly active accounts: 30d IBC Network Stats from July – August.🔥 Let’s explore the @mapofzones 👇 This month, 118 chains were actively connected through IBC and processed $1.03b in transaction volume.@osmosiszone drove the highest IBC volume… pic.twitter.com/bgav1S9Oh7 — IBC (@IBCProtocol) August 28, 2024 This contributed to Cosmos’s most recent achievement: reaching 2.3 million monthly active accounts and over $1 billion in transfers.
This bullish behavior suggests that investor sentiment has been strengthened by the recent on-chain developments that occurred within the last 2 weeks. Related Reading: XRP Gains Ground: 20% Of Institutional Investors Embrace The Crypto This leaves investors with an open road toward $6, but before this potential is realized, ATOM bulls should focus on the short-term flip of $4.6 as a support level.
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