The broader crypto market is currently facing a new earthquake as the bears attempt to break through Bitcoin’s bullish support at $ 42,000 and push BTC to a daily low of $ 40,620 before selling power is exhausted.

The data shows that four of the top seven altcoins with the biggest wins of the day are part of the growing Cosmos Hub. This ecosystem currently uses the Interblockchain Communication (IBC) protocol to facilitate interoperability and communication between connected networks.

Top 7 coins with the highest price change in the last 24 hours.

Let’s get to know the driving force behind IRISnet (IRIS), Secret (SCRT), Akash Network (AKT) and Cosmos (ATOM).

IRISnet extends NFT capabilities

The most positive asset in the last 24 hours is IRIS, an interchain service hub for decentralized applications (dApps) that enables cross-chain interoperability and provides company modules to support distributed systems.

Data from TradingView shows that after hitting a low of $ 0.079 early January 7, the price of IRIS rose more than 84% to a daily high of $ 0.144, while its 24-hour trading volume rose 2,320 % rose to $ 112.6 million.

4 hour frame IRIS / USDT price chart | Source: TradingView

The sudden increase in the price and trading volume of IRIS is due to the fact that the NFT community of the protocol continues to grow thanks to an upcoming launch on the Uptick network, which will help attract new users to the IRISnet ecosystem.

Pulp Fiction NFT joins Secret Network

Secret Network is a blockchain protocol with integrated data protection for smart contracts that enables programmable data protection for data transmission, DeFi and NFT.

SCRT / USDT 4 hour chart | Source: TradingView

SCRT prices rose after it was announced that film director Quentin Tarantino will release NFT Pulp Fiction on the Secret Network.

Akash Network cooperates with CloudStack

Akash Network is applying for DeFi as the world’s first decentralized cloud marketplace. It’s called DeCloud and enables any application to be started quickly without any configuration setup or server management.

Data from TradingView shows that after falling rapidly to $ 2.33 on Jan 5th, AKT price rebounded 25% to a daily high of $ 2.93 on Jan 7th during its 24-hour trading volume increased by 88%.

4 hour frame AKT / USDT price chart | Source: TradingView

AKT’s upward momentum comes after the announcement of a partnership between Akash Network and CloudStack, a decentralized cloud aggregator that provides a gateway to access any decentralized storage network, including Filecoin, Arweave and Storj.

Cops like the idea of ​​interoperability between Cosmos and Ethereum

Cosmos is the blockchain protocol on which the entire Cosmos Hub is based and which calls itself the “Internet of Blockchains”. Owners use ATOM to protect the entire ecosystem.

ATOM / USDT 4 hour chart | Source: TradingView

The total crypto market cap is currently $ 1.977 trillion and the dominance of bitcoin is 40%.

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