Will ATOM be affected with Osmosis’ move to Bitcoin? Assessing…

ambcrypto.com:

On 2 March, Messari revealed Osmosis‘ plans to integrate Bitcoin [BTC] into its network for additional security. Osmosis is a major part of the Cosmos [ATOM] ecosystem, and improvements in the Osmosis protocol could possibly be reflected in the Cosmos Hub.

+Checkpoints sent to @babylon_chain via IBC +Single checkpoint from Babylon is then sent to Bitcoin +Bitcoin timestamps the received checkpoint, which can then be read by participating @Cosmos zones https://t.co/58djE304gA pic.twitter.com/4o3NWlAA7z

— Messari (@MessariCrypto) March 1, 2023

Read Cosmos’ [ATOM] Price Prediction 2023-2024

Osmosis’ security would be working through checkpoints on the network. These checkpoints would be sent to Bitcoin through the Babylon chain, which would then be time-stamped by the network. Finally, other Cosmos zones will read these timestamps.

Despite Osmosis’ attempts to improve its ecosystem through security, the TVL of the network continued to decline. Over the last week, the total value locked by the Osmosis protocol declined from $214.19 million to $190.6 million, according to DeFi Llama. The declining TVL of Osmosis impacted the revenue generated by the protocol, which ended up decreasing.

Source: Defi Llama

Even though Osmosis wasn’t able to show growth in terms of revenue collection, the Cosmos Hub protocol’s revenue remained unaffected. According to data provided by Token Terminal, the revenue generated by Cosmos Hub increased by 51.03%.

Despite the struggles of its most prominent DEX, the activity on the Cosmos Hub increased massively. This could be why Cosmos witnessed growth in revenue collection.

Source: token terminal

Even though the Cosmos Hub