Why is Komodo crypto (KMD) making headlines?

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Why is Komodo crypto (KMD) making headlines?

 Why is Komodo crypto (KMD) making headlines?
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Highlights

  • Komodo crypto (KMD) is primarily an open-source technology provider offering various project opportunities to create blockchains and host token sales.
  • On 4 July, the Komodo crypto was witnessing a positive upswing, and it gained over 16.57% and a volume gain of over 1764% at 6:30 AM (GMT +1), according to CoinMarketCap.
  • The KMD crypto on Monday was trading at US$0.226575 with a volume of US$3,89,48,915 over a day.

Komodo crypto (KMD) is primarily an open-source technology provider offering various project opportunities to create blockchains and host token sales. Being a Binance Smart Chain-driven protocol, it allows the making of unique decentralised exchanges and other financial applications. 

Komodo crypto’s base technology stems from Bitcoin’s system and inherits the features from Zcash. As a fork of Zcash, it brings in a host of features such as scalability, security, and other features of the zero-knowledge proof protocol.

Besides, it can convert money from a transparent address to a private one and then sends the transaction to another, thereby giving it a privacy feature. 

Operating on the delayed Proof-of-Work (d-PoW) consensus mechanism, Komodo protocol can improve the processing speeds of the protocol by shortening the blockchain. Besides this, another unique feature that sets Komodo crypto apart is the SuperNET -- a decentralised feature that is similar to DEXs.

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The Komodo crypto on 4 July was witnessing a positive upswing, and it gained over 16.57% and a volume gain of over 1,764% at 6:30 AM (GMT +1), according to CoinMarketCap.

Reason for Komodo crypto’s rally? 

Komodo crypto seems to be rallying on the back of the recent gains it has had. In fact, KMD crypto has been mostly on been indicating a rise with both its RSI and MACD levels pointing towards an upward movement. 

According to CoinGecko, Komodo has already made gains of 25% in the past 14 days. In the last one week or so, it has gained over 13%. 

This is reflective even in the charts as its MACD line seems to be on an uphill climb, with the signal line below the crucial blue line. 

Image credit: Trading view

The RSI indicates that the buying activity is easing out, but there is still significant interest, with it being placed at 54.61 during the intra-day trading session. 

The 100-day and 200-day lines also suggest that the price may reach U$0.31543369 and US$0.464324470. 

How is Komodo crypto’s price faring

The KMD crypto on Monday was trading at US$0.226575 with a volume of US$3,89,48,915 over a day, according to CoinMarketCap. The 462-ranked crypto token witnessed a live market cap of US$ $3,00,28,654and 13,25,33,101 KMD coins in circulation. 

Komodo crypto’s price rallies over the fortnight would have impressed its investors. At the same time, they would also be wary of the fact that things in the crypto market can change rapidly, and one must make sure that they do their due diligence in ensuring proper market research before making investment decisions.  

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