Cosmos faces ‘near extinction’ as key projects quit ecosystem

Anoma’s Christopher Goes warns the Cosmos ecosystem is nearing collapse as projects like Penumbra, Osmosis and Noble shut down, enter maintenance or exit entirely.

Christopher Goes, co-founder of Coinbase-listed cryptocurrency Anoma (XAN), said the Cosmos (ATOM) ecosystem is experiencing a serious decline and nearing its end, according to statements reported by Bitcoin Sistemi.

Anoma co-founder says Cosmos ecosystem in decline

Goes stated that numerous projects within the Cosmos ecosystem have recently ceased operations or significantly reduced their scale. Several projects have shut down completely, while others have entered maintenance mode and redirected resources to alternative ecosystems, according to the report.

The statement cited specific examples including Penumbra ceasing operations, Osmosis entering maintenance mode while shifting resources elsewhere, and Noble in the process of withdrawing from the Cosmos ecosystem.

Goes indicated that user and market interest in the ecosystem has reached historically low levels, creating sustainability challenges for projects with high operational costs and specialized technology infrastructures, the report said.

The concentration of capital on specific assets and the removal of the ecosystem from priority lists contributes to uncertainty regarding Cosmos’s future, according to Goes’s assessment.

Anoma is listed on Coinbase, one of the largest cryptocurrency exchanges in the United States. The Cosmos network uses blockchain technology designed to enable interoperability between different blockchain systems.