Is Cosmos (ATOM) still relevant?

During the last cycle it hit $43, and is currently sitting under $4. Coinbase also offers it's highest staking rewards for ATOM at around 15%. It seems like it's a great opportunity to dump some cash in, earn interest and wait for the next bull run. My concern is that the volume seems really low like hardly anyone is trading it. I've looked at various crypto site that explain what it is, it's utility, etc, but I can't really get a feeling for whether this is a dead project, or if it still has promise. Anyone have any insight?