Christopher Goes, who co-founded Anoma (XAN), an altcoin listed on Coinbase, has expressed a grim outlook for the Cosmos (ATOM) ecosystem, suggesting it is experiencing a significant downturn and may be approaching its demise.
Goes highlighted that numerous projects within the Cosmos network have either completely shut down or drastically reduced their operations in recent times. Some initiatives have been terminated altogether, while others have switched to maintenance mode, reallocating their efforts toward different ecosystems. Additionally, several projects are reportedly exiting Cosmos entirely.
He pointed out specific cases such as Penumbra halting its activities, Osmosis moving into maintenance status and diverting resources elsewhere, and Noble actively withdrawing from the Cosmos environment.
According to Goes, both user engagement and market enthusiasm for the ecosystem are at record lows. This decline poses serious challenges for projects that rely on costly infrastructure and specialized technology to remain viable. He also noted that since much of the investment capital is concentrated in certain assets rather than broadly supporting the ecosystem itself, Cosmos’s future appears increasingly uncertain.
*This does not constitute financial advice.