The price of Cosmos’ ATOM has increased 240% since the beginning of February as excitement builds for the approaching Stargate upgrade on Feb. 18 that will help connect all Cosmos-based chains together using Inter-Blockchain Communication (IBC).
Data from Cointelegraph Markets and TradingView shows that ATOM was trading at a price of $7.83 on Feb. 1 before a series of positive announcements, including the ability to stake ATOM on Binance, helped lift the token to a new all-time high of $26.68 on Feb. 16.
Stargate has been a much-anticipated upgrade for the Cosmos community, as the introduction of IBC will enable the exchange of transactions of value and data across compatible chains.
Cosmos-based blockchains are currently siloed and unable to communicate or interact in a secure way. IBC is expected to help bring the separate chains together into the new Cosmos network ecosystem.
Other features included in the upgrade are the Protobuf migration, which helps accelerate front-end development and improve overall blockchain performance, and state sync, which helps new nodes synchronize 200 times faster and participate in consensus in just minutes rather than days.
Optimism grows following the delayed release of Stargate
Excitement for Stargate’s release has been building for months while ATOM price traded flat. Price action began to pick up on Jan. 15 when it was announced that the Stargate launch, which was originally scheduled for Jan. 28, would be postponed until Feb. 18.