Christopher Goes, co-founder of the Coinbase-listed altcoin Anoma (XAN), has issued a stark warning that the Cosmos (ATOM) ecosystem is in a state of serious decline and is effectively "nearing its end." Goes stated that user and market interest in the ecosystem have plummeted to historically low levels, making it difficult for projects with high operational costs and specialized technology infrastructures to sustain themselves.
According to Goes's assessment, numerous projects within the Cosmos ecosystem have recently either ceased operations entirely or significantly downsized. He provided specific examples of this exodus: the privacy-focused protocol Penumbra has shut down operations; the decentralized exchange Osmosis has entered a maintenance mode while shifting its resources elsewhere; and the asset issuance chain Noble is in the process of withdrawing from the Cosmos ecosystem entirely to focus on other networks.
Goes attributed the ecosystem's struggles to a combination of factors, including high operating costs, capital concentration on only a few specific assets, and the fact that the broader Cosmos ecosystem has been removed from the priority list for many developers and investors. This, he argues, has led to fading innovation and growing uncertainty about Cosmos's future viability as a multi-chain hub.
