Cosmos records $150 million in transaction volume 5 years after its fundraiser

On April 6th, Cosmos celebrated the 5-year day of its 2017 fundraiser, wherever $17 cardinal was raised successful little than 30 minutes to enactment the improvement of its ecosystem.

Exactly 5 years aft the fundraiser, Cosmos recorded implicit $150 cardinal successful IBC transactions successful 24 hours, proving that dilatory and dependable wins the contention — adjacent successful DeFi.

Five years since Cosmos raised $17 million

On April 6th, 2017, Cosmos opened its fundraiser to the public. The ambitious web was yet to motorboat and promised users a fast, reliable, and interoperable blockchain that could enactment a wide assortment of dApps and projects.

The connection resonated with many, arsenic it took seconds to rise implicit a cardinal dollars worthy of BTC and ETH. In the adjacent 30 minutes, the $17 cardinal hard headdress was met and the fundraiser was rapidly closed.

Since then, the Interchain Foundation has been hard astatine enactment processing the Cosmos ecosystem. In the 5 years since the $17 cardinal raise, Cosmos has astir reached its afloat functionality. The crown jewel of the web — the Interblockchain Communication Protocol (IBC) — was launched successful 2021 arsenic portion of its monolithic Stargate update and brought a robust interchain infrastructure to the Cosmos ecosystem.

Facilitating transactions betwixt Cosmos’ web of interconnected chains, IBC has seen some its transaction measurement and transaction number summation each period since its launch. In February this year, IBC logged 11.2 cardinal transfers, showing a fivefold summation successful enactment successful a play of 5 months.

The wide transaction measurement IBC supported has besides accrued significantly. Ethan Buchman, the co-founder of Cosmos, said that the transaction measurement soared this past week. On the day of its fundraiser, determination person been implicit $150 cardinal of IBC transactions crossed dozens of sovereign Cosmos chains.

Today marks 5 yrs since the @cosmos fundraiser. $17M was raised successful <30min connected April 6, 2017 to money an Internet of Blockchains.

In the past 24hrs, there's been >$150M of IBC txs crossed dozens of sovereign Cosmos chains.

The Internet of Blockchains is here. 🥂to the adjacent 5 yrs!

— Ethan Buchman (@buchmanster) April 6, 2022

With implicit $32 cardinal presently locked successful Cosmos, it’s 1 of the largest networks successful presumption of TVL. The full marketplace capitalization of ATOM, the networks’ autochthonal currency, stands astatine $7.85 billion, making it the 22nd largest cryptocurrency connected the market.