Token

Osmosis

Cosmos

Gains

In the Cosmos ecosystem, the native token of the Osmosis DeFi hub network, OSMO, has gained over 10% in value within the last 24 hours amid the ongoing calm market conditions in the cryptocurrency market, including Bitcoin. According to TradingView data, OSMO was trading at $1.37 at the time the article was written.
<h2 id="osmo-impresses-with-its-performance">OSMO Impresses with Its Performance</h2>
OSMO, experienced an increase of over 100% in November, attracting the attention of many investors. According to analysts, this increase coincided with a significant rise in transaction volume and increased network activity. Onchain data obtained from the Osmosis Data Interface indicates that just last week, there was an increase of over $241 million in trading volume on the flagship DEX.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-289755 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/osmo-grafik.webp" alt="" width="1144" height="568">
Nansen analyst Jake Kennis stated that despite the protocol having significant updates throughout 2022 and into early 2023, there was a lack of volume and users; however, during this period, these metrics began to recover. Kennis also added to his statements that the trading volume in the Osmosis protocol has been steadily rising during November and December:
“Volumes are reaching new peaks of around $60 million per day.”
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-289754 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/osmo-hacim.webp" alt="" width="711" height="440">
The Nansen analyst also addressed the impact of the increasing trading volume on OSMO price dynamics, making the following statement:
<blockquote>
 “As volumes increase, OSMO’s natural value capture also grows through value capture mechanisms such as buyer fees, the proto rev module, and transaction fees.”
</blockquote>
<h2 id="what-s-expected-for-osmosis">What’s Expected for Osmosis?</h2>
Kennis noted a recent increase in the adoption of the Osmosis protocol by numerous DeFi applications. According to Kennis, Osmosis is being repriced not just as a DEX but as an entirely decentralized finance chain.
These developments come shortly after Osmosis signaled a major consolidation in the Cosmos ecosystem with a merger proposal with the lending project UX Chain. If approved, this merger could integrate UX Chain’s lending logic and algorithms into Osmosis’s DEX and create a comprehensive DeFi hub. Continue Reading: <a href="https://en.coin-turk.com/osmosis-defi-hubs-native-token-osmo-gains-over-10-in-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/osmosis-defi-hubs-native-token-osmo-gains-over-10-in-value/</a>

Osmosis DeFi Hub’s Native Token OSMO Gains Over 10% in Value

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