$ATOM compared to $BTC is a disaster.
First of all, I was a fan of this project.
An ecosystem that guarantees true decentralization, but unfortunately, the $ATOM token is still not very useful. It could be used to secure the Cosmos, but the token will go to zero. I think they need to eventually secure the Cosmos, but EigenLayer is going to outcompete them a bit. This is where Polkadot had an advantage, but with a bit more centralization.
