Is the Cosmos ecosystem on the brink of extinction? From project shutdowns to token zeroing out, a true reflection of ecosystem decline

Anoma co-founder Christopher Goes recently made comments that have sparked attention in the crypto community. He bluntly stated that the Cosmos ecosystem is almost dead and listed the current status of several projects as evidence: some have completely shut down, some have shifted to maintenance mode, and others are fleeing. This is not just one person’s opinion; from token performance to market expectations, all indicate that this ecosystem is going through a severe crisis.

Current State of the Cosmos Ecosystem: From Prosperity to Decline

According to the latest news, there has been a noticeable loss of projects within the Cosmos ecosystem. Penumbra has ceased operations, Osmosis is still running but has shifted to maintenance mode and redirected its main resources elsewhere, and Noble is leaving the Cosmos ecosystem. These are not small projects; they were all important participants in the Cosmos ecosystem.

Related information shows that several analysts have predicted that certain airdrop projects might be eliminated in this bear market, with Anoma prominently listed. More straightforward data shows that some users have tracked their airdrop earnings in 2025, and several projects, including Anoma, are showing $0.

The True Dilemma Reflected in Token Performance

Market reactions are often more direct than words. According to trading data from January 10, the Anoma token XAN has fallen 1.29% in the past 60 minutes. Although this decline doesn’t seem very large, in the broader context, it reflects investors’ concerns about the overall ecosystem outlook.

Why Is This Happening?

The answer to this question can be complex, but from a surface perspective, there are several factors:

• Declining Ecosystem Competitiveness: In the Layer 1 race, Cosmos was once a key player, but in recent years, ecosystems like Ethereum and Solana have become increasingly dominant.
• Funding Difficulties for Projects: During bear markets, raising capital is challenging, and a lack of strong support within the ecosystem may exacerbate this situation.
• Loss of Users and Developers: Projects leaving can accelerate ecosystem decline, creating a negative feedback loop.
• Market Expectations Shift: From related news, it is evident that the market has begun to anticipate the failure of these projects.

What Does This Mean?

From an investor’s perspective, this is a clear signal: ecosystem decline is not sudden but a gradual process. Project closures, shifts to maintenance mode, migration of high-quality projects—all are observable leading indicators. The decline in token prices and the zeroing out of airdrop earnings are the ultimate manifestations of this trend.

My personal view is that the difficulties faced by the Cosmos ecosystem serve as a reminder that even ecosystems that once seemed promising can rapidly decline due to multiple factors stacking up. For investors, continuously monitoring project developments, developer activity, funding status, and other indicators within the ecosystem may be more valuable than simply watching token prices.

Summary

The Cosmos ecosystem is indeed experiencing a serious crisis, which is reflected not only in the founder’s remarks but also in the actual actions of projects, token market performance, and investor returns. From Penumbra shutting down to Osmosis shifting to maintenance, Noble leaving, and XAN token falling along with airdrops becoming worthless, all tell the same story: an ecosystem with potential is losing its appeal. The lesson for the entire crypto market is that ecosystem health depends on sustained project support and innovation. Once this cycle is broken, decline often accelerates.