Little-known altcoin Komodo (KMD) had a powerful month amid the worldwide lockdown. Prior to now 28 days the KMD coin value elevated 102% in opposition to the greenback, whereas many bigger cap cryptocurrencies struggled for momentum.
From a coin value of $0.239453 on March 16, the worth of Komodo climbed to a peak of $0.485010 on April 14 — a 102% improve.
KMD/USD 1 Month Chart: Coin360
That’s in stark distinction to the earlier month’s efficiency, which noticed the coin value drop by over 75% from February’s excessive of $0.920051.
Komodo’s current historical past
Komodo can hint its existence in some kind all the best way again to 2014’s Bitcoin Darkish. A venture rebrand and a hardfork of the Zcash (ZEC) blockchain finally noticed Komodo shift its focus to multi-chain structure, whereas retaining the privateness choices of its mum or dad chain.
Blockchain initiatives can construct on Komodo’s sidechains utilizing ten completely different programming languages, whereas its personal blockchain is backed up on Bitcoin’s each ten minutes. In 2019 Komodo launched its AtomicDEX – a decentralized atomic swap protocol which might commerce cash between disparate blockchains with out requiring a third-party change.
Komodo drew vast consideration in late March when Ethereum founder Vitalik Buterin decried the lack of trustless strategies of buying and selling Bitcoin and Ethereum trustlessly. Because the Komodo crew pointed out on the time, the AtomicDEX is a technique of doing exactly that.
Whereas the venture flew below Vitalik Buterin’s radar, Binance CEO Changpeng Zhao (CZ) drew consideration to Komodo way back to 2018. In a Forbes article from August of that yr, CZ steered customizable blockchains like Komodo could also be poised to outlast the earlier technology’s crop of general-use chains.
Komodo finds itself positioned among the many prime 70 cryptocurrencies by quantity as of press time. Prior to now 24 hours, KMD’s largest market was discovered on Binance, the place the KMD/BTC pair accounted for $1.2 million value of trades.
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