Why Cosmos' ATOM Cryptocurrency Is Climbing

The ATOM token has skyrocketed more than 540% year to date.

What happened

Cosmos (CRYPTO:ATOM) recently announced the launch of a new blockchain network, and its ATOM cryptocurrency token is climbing as a result. ATOM was up roughly 6.1% over the previous 24 hours as of 4:45 p.m. EDT.

The Cosmos team announced on Oct. 19 that it would be launching a new blockchain dubbed Sagan. The new blockchain network, which is named after astronomer Carl Sagan, will be used for application testing and experimentation.