Cosmos news

Interchain Labs has abandoned plans to add an EVM layer to the Cosmos Hub, choosing instead to double down on the Cosmos Stack as an infrastructure toolkit for sovereign L1s aimed at businesses, institutions and developers. The move comes after the team noted the EVM project pulled resources in “too many directions” and failed to entice new developers or investors outside the existing Cosmos base, while soaring blockspace costs made competition as a general‑purpose contract platform untenable. Cosmos will focus on institutional clients who want dedicated chains with selective interoperability, positioning the Hub as a service marketplace for routing assets and bridging via IBC, though ATOM’s monetization role remains vague. Builders such as Stride, who had been preparing Hub‑native deployments, may be helped to migrate to alternative Cosmos chains, but confidence among developers is uncertain. ICL says it will operate in “startup mode,” iterating quickly on customer needs while aiming for a sharper, more sustainable vision for the ecosystem.

Sei Labs has announced a major shift to make the Sei blockchain EVM‑only, dropping all Cosmos transaction support and CosmWasm contracts under proposal SIP‑3. Co‑founder Jay Jog said most platform activity already uses the EVM, and the change is intended to streamline architecture and boost the developer experience. The move is part of building Sei Giga, a high‑performance chain focused on throughput and reduced complexity. Aligning more closely with Ethereum is expected to broaden developer participation and integration into the broader ecosystem. Existing wallets, dApps, and CosmWasm‑based projects will need to redeploy with EVM compatibility, while Cosmos‑native asset holders may have to migrate or off‑ram. The announcement lifted SEI’s token price about 7 % to $0.20, reflecting positive market sentiment.

Cosmos announced Eureka, an interoperability layer that connects its inter‑blockchain communication (IBC) protocol with Ethereum, aiming to make the Cosmos Hub a multichain app hub. By expanding IBC into a universal protocol, Eureka lets developers build cross‑chain apps without bridges, cutting the user and liquidity fragmentation that traditional bridges create. Early adopters include Bitcoin‑staking protocol Babylon, which will move Bitcoin liquid‑staking tokens from Ethereum to Cosmos, and DeFi platform Elys, which will support trading of wrapped Ether and Bitcoin. The Interchain Foundation states upgraded IBC already drives up to $3 billion monthly across 115+ blockchains, though integration is uneven for non‑Cosmos chains. Future plans include Eureka‑enabled features on DEX dYdX and tokeniser Mantra, which aim to bridge Ethereum capital into Cosmos real‑estate, staking, and permissioned DeFi markets.

Cosmos (ATOM) surged more than 14% in the last 24 hours, signaling strong bullish momentum. Its Relative Strength Index climbed from 29 to 68.11, edging toward overbought territory and hinting at a possible short‑term pullback. Ichimoku Cloud analysis shows the price has crossed above the cloud with a bullish Tenkan‑Sen/Kijun‑Sen crossover, suggesting a potential trend reversal. Traders are watching the $5 resistance; a breakout could push the token toward a $5.5–$6 target if a golden cross confirms further upside. If the rally stalls, the price could retreat to key support near $4.83, with deeper levels at $4.47 and $4.17 at risk. Market participants must balance enthusiasm for the breakout against the caution implied by tightening volume and rising RSI.

Cosmos announced the IBC Eureka upgrade, revamping its Inter‑Blockchain Communication protocol to enable bidirectional transactions with Ethereum. On March 28, the Cosmos Hub sent a 1 ATOM packet to Ethereum and received a reply, marking the first live cross‑chain transfer and proving native connectivity between the two networks. The upgrade promises faster transfers, stronger security, and broader compatibility with blockchains such as Solana, while simplifying implementation for developers through streamlined relay logic. Middleware support lets developers extend IBC without altering its core, opening new DeFi and interchain use cases. Although ATOM is trading well below its all‑time high, community optimism rose sharply after the demonstration, with 78 % bullish sentiment reported. Industry observers see the move as a major step toward universal blockchain communication and a potential catalyst for cross‑chain finance.

Nubank, a Brazil‑based bank backed by Berkshire Hathaway, has broadened its crypto services by adding Cardano, Near Protocol, Cosmos, and Algorand, expanding its range to 20 tokens for 100 million customers. The four new assets carry a combined market capitalization of about $34.6 billion, supplementing the platform’s existing Bitcoin, Ether, Solana, USDC and XRP offerings. Nubank’s annual revenue rose sharply to nearly $3 billion in 2024 from $245 million in Q1 2021, reflecting its growing digital‑asset footprint. Berkshire Hathaway has invested $1.5 billion in the bank, increasing its stake to 0.4 % since 2022, while the bank’s earlier crypto push launched a loyalty‑token batch that was later discontinued in 2024. Brazil remains the largest Latin‑American crypto market, with $6 billion traded in 2024 and a regulator move on allowing Bitcoin salary payments, placing Nubank in a competitive space alongside Binance and Revolut.

The Interchain Foundation has open‑sourced the evmOS code as Cosmos EVM, positioning it as the canonical Ethereum Virtual Machine for Cosmos SDK‑based chains. The grant, funded by ICF and maintained by Interchain Labs, releases the code under an Apache 2.0 license so any Cosmos chain can plug in Ethereum smart contracts and liquidity. Earlier forks of evmOS, used by Injective and Cronos, suffered from wallet and bridge friction; the new standard aims to smooth those integrations. Cosmos Hub will need to decide whether to run an EVM chain itself, a choice that could reshape ATOM’s role in cross‑chain settlement. Major DeFi protocols are expected to welcome the standardization, lowering costs for deploying apps on Cosmos.

Cosmos ecosystem is expanding as a hub for real‑world assets with Ondo Finance’s new Layer‑1 blockchain, Ondo Chain, unveiled at the Ondo Summit in New York. The chain offers omnichain RWA support, verified collateral and native margin features designed for institutional use. Through a partnership with Noble, Ondo has tokenized treasuries and launched USDY, a yield‑bearing stablecoin, strengthening Cosmos’s RWA footprint across more than 90 blockchains. The collaboration has helped lift the RWA market cap above $35 billion. Mantra’s OM token remains robust, up 68 % in the last two weeks despite broader market sell‑offs, indicating steady institutional demand. Industry observers like Interchain Labs’ Barry Plunkett see Cosmos as the leading RWA ecosystem poised to attract global crypto activity.

Sonic Labs announced its first mainnet block, clearing the way for a December launch that follows an airdrop and promises developer incentives. Avalanche will roll out the Avalanche9000 upgrade on December 16, cutting deployment and transaction fees while launching a retroactive grant to support builders. Stacks will release its sBTC on December 17, a 1:1 Bitcoin‑backed token designed to bring BTC liquidity into its DeFi ecosystem and provide yields through partners such as Zest Protocol. Zero1 Labs plans to list its DEAI token on OKX, distribute an airdrop to stakers, and pursue new AI partnerships, while Cosmos is set to announce three major updates, including changes to its ATOM token. LayerZero will hold a referendum on December 20 to decide whether to activate protocol fees, potentially reshaping cross‑chain messaging economics. Token‑unlock and delisting events this week—Arbitrum’s large token release and Coinbase’s WBTC suspension—may trigger market volatility as supply and trading dynamics adjust.

Interchain Foundation has acquired Skip and created Interchain Inc, moving from funding disparate teams to a single, coordinated strategy. The new subsidiary, led by Skip co‑founders Barry Plunkett and Maghnus Mareneck, will govern product development, ecosystem strategy, and execution. Interchain Inc plans to unify Cosmos’s modular stack with major upgrades such as IBC‑Eureka, a simplified interchain protocol that also promises performance gains, and a version‑2 Cosmos SDK expected to improve throughput by 10–25×. The group is expanding virtual‑machine support, building an open‑source EVM and allowing any VM on Cosmos chains to facilitate Solidity‑based development. A key focus is to merge fragmented liquidity through the Cosmos Hub, leveraging permissionless Interchain Security and streamlined developer services so builders can tap pooled liquidity more easily. By tying together Skip’s collaborative network and offering incentives rather than mandates, the initiative seeks to revitalize Cosmos’s idea of a unified “Internet of Blockchains,” as co‑founder Ethan Buchman notes.