Osmosis hits $1 billion in monthly trading volume as interest in Cosmos surges

According to data DefilamaIn December 2023, the monthly trading volume of Osmosis, a Cosmos-based DEX, reached $1.12 billion.

The DEX’s native token, OSMO, has also seen gains due to increased activity and is currently trading at $1.60, up 116% in the past 30 days.

Source: Tradingview

This is the first time since May 2022 that trading volume on DEX Osmosis has exceeded $1 billion, after the Terra Luna collapse caused billions of dollars of liquidity to leave the Cosmos ecosystem.

Osmosis Resurrection

Osmosis operates as both a DEX and an automated market maker (AMM) on the Cosmos network. It stands out because it allows users to create and manage their own liquidity pools with customizable parameters.

The project runs on unmanaged infrastructure and is part of the larger Cosmos SDK universe, supporting over 47 chains in the ecosystem. Known for its interoperability, the platform is powered by the Inter-Blockchain Communication (IBC) protocol and provides advanced infrastructure for creating native cross-chain applications and smart contracts.

With the resurgence of bullish activity in the cryptocurrency market, many blockchain ecosystems are receiving renewed attention with the launch of many new projects. Cosmos is one of the leading blockchains that has attracted investor interest due to its unique technology.

Likewise, Osmosis has also resumed activity due to growing interest in Cosmos and the ecosystem due to new token launches such as Celestia (TIA) and upcoming airdrops.

fever aIRdrop

Airdrop mining has become a significant driver of activity in the Cosmos ecosystem in recent weeks, attracting users and growing the network.

At its core, airdrop mining involves users staking specific tokens to receive rewards, providing the opportunity to earn additional tokens in the future. The activity is growing in popularity, with many protocols launching tokens via airdrops in the past and recent months.

Airdrop mining is also supported by the interoperability of the Cosmos platform, allowing for diverse participation and reward mechanisms. Wallets that stake the OSMO native token on DEX will automatically be eligible for multiple airdrops on Cosmos.

Airdrops have become one of the main ways for the Web3 protocol to attract new users and new activities by promising future rewards.

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Mingying

According to Cryptoslate