Komodo (KMD) Summary: There is always more substance than meets the eye with this coin


Komodo went thorugh a real roller coaster of price. Satoshi on the 6th with a drop towards $ 1.18 / 16102 satoshi, the currency peaked to monthly highs of $ 1.53 / 21748th. Expectedly KMD reached monthly lows on the 14th with prices of $ 0.961860 / 15794 satoshi. This drop market at a temporary turning point for the currencyth monthly high of $ 1.65 / 22311 satoshi. From here Komodo went into a steep decline which lasted until the monthly lows of $ 0.908433 / 14540 satoshi. And rise ever since.

One KMD is worth $ 1.20 USD (0.44% drop in the last 24 hours) / 17464 satoshi (1.69% rise in the last 34 hours). BTC is very low and most of it comes from Binance (77%) and Bittrex (9%). With a market cap of $ 124,641,491, Komodo is currently ranked as the 51st most valuable cryptocurrency on the market.

We looked at what an up-and-coming trader called guilhermealvesf had to say about the currency's technicals:

"The KMD 0.34% broke out of a downtrend channel. Stoch RSI is indicating that it is to be found in the region of overbought. A possible break of the downtrend channel sugests long positions, but for now, no sign. "

More details can be found here.

"AMA Mondays" series, Komodo introduced an ecosystem spotlight feature where it will be an AMA session with one of the projects which have decided to leverage Komodo's technology for their own business ventures. The first ever spotlight was held on September 24th and it featured Verus Coin, a fork of KMD. Verus notably developed a unique PoW / PoS hybrid consensus mechanism and also has a native, also in-house designed hash function.

Finally, Verus will use Komodo's latest implementation of the Crypto-terms protocol to launch the Inter-Chain Meta Contracts, which should help fulfill Verus' vision of creating decentralized public-blockchain-as-a-service (PBaaS) products. The project seems to be keen to focus on public voting applications of the blockchain technology. Through their co-operation, all of these features will be introduced to the Komodo Platform. The complete AMA and a presentation of the relationship between these two projects can be found here and here.

🏆Read here how to buy XRP tokens.

Just a day later at "Tech Tuesday Update" # 3 was released, detailing the project development during the past week. And the updates were aplenty:

  • A private transaction mining pool for Komodo-based, zk-SNARK only blockchain called PIRATE was released
  • A bounty for porting solidity to Komodo's Crypto Conditions implementation was introduced
  • Lots of talk about tokens, Smart contracts and Oracles
  • New business use cases for Komodo's technology
  • Some guidelines were given to the designers taking part in the projects Infographic Contest

This modular dPoW / PoW platform based on an Equihash algorithm that aims to be a breeding ground for new blockchains and related applications. If they keep up, this may be more positive price action should be expected in the future.

CaptainAltcoin's writers and guest posters may have a vested interest in any of the mentioned projects and businesses. Captain of investment is not an investment advice nor is it a replacement for advice from a certified financial planner.

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