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The crypto industry has set up many goals for itself in the past, with some of them being achieved successfully, while others, unfortunately, failed. However, never before did the industry become so obsessed with a singular goal as it is now when it decided that it wishes to achieve Web 3.0. To this extent, countless projects started integrating with one another, combining their unique technologies, building bridges, and taking interoperability to the next level.
One of the most recent examples of this is Cosmos’ integration with The Graph, which was just completed days ago, according to The Graph’s business lead, Tegan Kline.
✅ Cosmos Hub integration complete
⬜ @osmosiszone 🧪 integration next
Why it's 🗝️ for the Interchain:
Standardized interface makes cross-chain querying 100x simplerhttps://t.co/cp2Z4z8e8u
— Cosmos Chjango (Interchain.FM🥩)👩🚀 (@chjango) June 16, 2022
Cosmos/The Graph integration was confirmed, and OSMO is next
During a recent interview, Kline stated that the current developments are very exciting and that this period can be considered “the golden age for dApps,” with projects finally coming out with many announcements of developments that they have been working on for many years.
Furthermore, Kline confirmed The Graph’s earlier announcement that the project has already completed its integration with Cosmos and that it now aims to switch to Osmosis next. She reflected on The Graph’s two-year-old strategy to go multi-blockchain, noting that the community liked the idea when it was presented to them.
Back then, a lot of votes supported the Cosmos ecosystem as one that The Graph should gravitate towards the first, which is exactly what the project did. Osmosis was the logical next step, as it has been building and growing with the team for “multiple bear markets,” as Kline noted.
While The Graph takes on the role of a decentralized network that offers to process and organize the date of many different types of networks in a decentralized way, Osmosis functions as an automated market maker that specializes in the InterchainDeFi movement. And, while it does have its own blockchain, it has still been utilizing Cosmos’s SDK and IBC technologies for a long time.
This connection is what made it a perfect candidate to follow in Cosmos’ footsteps when it comes to integrating with The Graph.
OSMO and ATOM prices recover following the weekend drop
After the announcement that the Cosmos integration was completed and that Osmosis will be the next in line, both projects have started seeing a near-identical price performance. Osmosis previously dropped over the weekend from $0.76 to $0.68, only to start growing on Sunday, heading all the way back to a resistance at $0.78. As of Monday, June 20th, however, the project’s price has dropped back to $0.76.
Cosmos has seen a similar performance. Originally at $6.40, the price of its native cryptocurrency, ATOM, first dropped to $5.60 on Saturday, June 18th, only to start a rapid recovery to $6.80. Then, as Monday was about to start, the price once again sank a bit to the current $6.57.
To learn more visit our Investing in The Graph guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.