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

Komodo went thorugh a real roller coaster of price movements in the last couple of months. After opening the month of August with a drop towards $1.18/16102 satoshi, the currency peaked to monthly highs of $1.53/21748 satoshi on the 6th. Expectedly KMD reached monthly lows on the 14th with prices of $0.961860/15794 satoshi. This drop market a temporary turning point for the currency as it went on a positive run which ended on September 4th 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. The currency has been in a slow and steady 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). Daily trade volume of 65 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, but it seems that it entered in another anyway. Stoch RSI is indicating us that the token is found in the region of overbought, soon a possible sale sign can arise any time. A possible break of the downtrend channel sugests long positions, but for now, no sign.”

More details can be found here.

During their now regular “AMA Mondays” series, Komodo introduced an ecosystem spotlight feature where Reddit users will get to take part in 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 Crypto-Conditions protocol to launch Inter-Chain Meta Contracts, which should help fulfill Verus’ vision of creating decentralized public-blockchain-as-a-service (PBaaS) products. The project seems especially 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 more detailed introduction to the relationship between these two projects can be found here and here.

?Read here how to buy XRP tokens.

Just a day later a “Tech Tuesday Update” #3 was released, detailing the project development throughout 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, Gateway 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 wants to become a breeding ground for new blockchains and related applications had a busy week behind it indeed. If they keep up at such pace, more positive price action should be expected in the future.

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