I think you are right, both OSMO and ATOM are cheap currently. OSMO inflation drops by 1/3 in the near future (can't remember exactly when). Hopefully, lower emissions will help stabilize the price.
ATOM really needs a decent value capture, beyond shitcoin airdrops. Interchain security will hopefully be the missing component to give extra incentive to hold ATOM long term.
$CMST is coming, a USD pegged stablecoin that will work like DAI. Overcollateralized. There is also another one coming called IST, but I have not looked into it.
Comdex is also bringing out cGOLD, which will be a synthetic Gold token. Not backed by physical gold, but overcollateralized with Cosmos assets, and priced using Oracles.
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