Komodo (KMD) gained 20% on its value leading into Tuesday morning, hot on the heels of a sudden increase to marketing efforts, and the successful testing of multiplayer gaming modes on its blockchain.
Komodo Price – KMD/USD
The KMD coin price soared throughout the early hours of Tuesday morning, and the bulk of the 20% growth appeared in little over twelve hours. That took the dollar value from $0.675414 up to $0.813385, with the peak landing at around 14:00 UTC.
Trade volume rose 318% in that time period, from $1.1 million to $4.6 million; the KMD/BTC pair accounted for over 80% of the daily changeover, with Binance housing the most liquidity.
Komodo is now up 38% over the last seven days, despite sizeable drops in between. Today’s trade volume is the highest since October of last year, and the return of trade volume to KMD seems to coincide with a sudden increase in its online presence.
Komodo started in 2016 with the idea of liberating asset holders from the confines of any one blockchain. As stated in creator James Lee’s ‘Declaration of Independence’:
“We the asset holders hereby declare our independence from any single blockchain.
An open and jointly developed specification on cross-chain atomic asset transfers will be developed. Any current or future blockchain is invited to join.”
Just under three years later and there are clear signs of progress. Atomic swaps have become a regular occurrence on the Komodo DEX, and the focus on blockchain interoperability has been such that the development team now claim compatibility with 95% of the world’s existing blockchains.
Check out Why Investors Should Pay Attention to Komodo for a rundown of the project’s main features.