Juno Network surges 18% into crypto top 100, hits all-time high
Link copied to
A smart contract platform associated with the Cosmos ecosystem has smashed its way into the crypto top 100 and to a new all-time high, even as most of the market moves sideways.
Juno Network was up 18.4 per cent to US$23.45 this afternoon (Sydney time), giving it a market cap of US$929 million and making it the No. 98 crypto, according to Coingecko.
JUNO tokens hit an all-time high of $23.80 around noon; they launched in October and hit a nadir of $7.53 back in mid-December.
I DARE YOU TO SHOW ME A MORE BULLISH CHART pic.twitter.com/rW7QQrGyab
— TraderKøz (@TraderKoz) February 3, 2022
Juno describes itself as a layer 1 smart contract network built on the Cosmos SDK (software development kit), designed to serve as a permissionless network for cross-chain smart contracts. Juno tokens were airdropped to everyone who held Cosmos’ ATOM token during a February 2021 snapshot.
A network of blockchains that communicate via the Inter-Blockchain Communication protocol (IBC), the Cosmos ecosystem was largely overshadowed by other smart contract platforms last year.
But lately Cosmos coins have been surging, with Osmosis, a decentralised exchange for swapping IBC-enabled tokens, close to entering the top 50. This afternoon Osmosis tokens were trading at $8.03, up 33 per cent year to date, to make it the No. 53 crypto.
ATOM coins were up 11 per cent to $29.08.
Overall the crypto market stood at $1.8 trillion, up 1.4 per cent since yesterday.
Bitcoin was trading at $37,350, up 1.0 per cent, while Ethereum was changing hands for $2,690, up 1.2 per cent.
Aside from Juno and Cosmos, Quant and Hedera were the other top performers in the top 100, rising 9.7 and 9.3 per cent, respectively.
LooksRare token was the worst performer in the top 100, falling 5.8 per cent to US$4.61.