Cosmos to roll out native USDC through Interchain- ATOMic details inside

ambcrypto.com:

Cosmos concluded September with an announcement that might set the pace for an interesting future. The blockchain network plans to roll out USDC natively on its interchain platform.

— Cosmos – Internet of Blockchains ⚛️ (@cosmos) September 29, 2022

Cosmos revealed that the development was part of its plan to expand the Interchain ecosystem. According to the update, the USDC rollout natively on the Interchain will take advantage of Interchain Security.

Cosmos further stated that it expects the rollout to facilitate an easier transfer of value within its interconnected ecosystem.

As per the announcement, operating USDC natively on Interchain will enable dapps to operate more efficiently. The network also expects the stablecoin rollout to drive migration into Interchain and facilitate favorable liquidity flow.

This might translate to more utility and demand for the network and for the ATOM cryptocurrency.

USDC’s native rollout on Cosmos may yield a positive long-term impact on ATOM. Furthermore, it may also have a short-term positive impact considering ATOM’s current position and that 2023 is just a few weeks away.

At press time, ATOM was trading at $13.0 and was down by 0.12% in the last 24 hours.

However, the chart from 30 September showed that ATOM was within an ascending price channel since mid-June and it just retested its current support.

Source: TradingViewCo

Furthermore, ATOM’s $13.09 price on 30 September also indicated that investors were accumulating after the support retest. There were additional factors that pointed towards an