Christopher Goes, co-founder of the Coinbase-listed altcoin Anoma (XAN), stated that the Cosmos (ATOM) ecosystem is in a serious decline and is effectively nearing its end.
According to Goes, many projects within the Cosmos ecosystem have recently ceased operations entirely or significantly downsized. Some projects have been shut down, while others have simply gone into maintenance mode, redirecting their resources to other ecosystems. It has also been noted that some projects have decided to leave Cosmos entirely.
The statement cited examples such as Penumbra ceasing operations, Osmosis entering maintenance mode and shifting its resources elsewhere, and Noble in the process of withdrawing from the Cosmos ecosystem.
Christopher Goes stated that user and market interest in the ecosystem is at historically low levels, making sustainability difficult for projects with high costs and specialized technology infrastructures. According to Goes, the fact that a large portion of the capital is focused on specific assets and the ecosystem as a whole has been removed from the priority list makes the future of Cosmos even more uncertain.
*This is not investment advice.