A lot of interesting cryptocurrency price action is happening outside of the market cap top 20. That is usually because altcoins are easier to manipulate, as their market cap and trading volume are relatively low. For Komodo, the ongoing developments behind the scenes pave the way for greater value, as its price sits right at the $1.20 mark. A pretty solid uptrend, although it is still 90% removed from the all-time high.
Komodo Price is on the Move
It is always interesting to see how individual altcoins behave during a prolonged cryptocurrency bear trend. In the 2018 edition, altcoins have shown signs of life on more than one occasion. Unfortunately, none of those trends have remained in place all that long, but that is only to be expected. For Komodo, this uptrend may effectively be the beginning of a somewhat interesting uptrend.
Over the past 24 hours, there has been a notable Komodo price increase. A healthy 3% gain in USD value combined with a 4% gain on Bitcoin elevate the current value to $1.2 Compared to the KMD all-time high recorded in early 2018, that is still a 90% deficit, but there is little one can do about that at this point. All of these gains are quite notable especially because Bitcoin remains stuck in sideways trading.
The main reason why Komodo should be of great interest to speculators is because of its ongoing developments. The platform now has the full support of ChangeNOW , a non-custodial exchange service. Combined with Komodo’ potential for atomic swaps and P2P trading, the future certainly looks interesting.
.@KomodoPlatform fans, you have @ChangeNOW_io's full support! Limitless blockchain solutions are the key to a healthy development environment, so, in case you need to get your hands on more $KMD, just hit us up at https://t.co/uhs52tA4L7 – we've got you covered! #KMD #komodo pic.twitter.com/MxsWLRHZ02
— ChangeNOW (@ChangeNOW_io) November 13, 2018
An interesting story comes in the form of how someone attempted to 51% attack the Komodo network earlier. One of those individuals is now running a pool. Both individuals are also working on a casino project, which is inspired by Komodo’s underlying technology. Whether or not it will use the KMD blockchain, is a different matter altogether.
— KomodoWorld (@KomodoWorld) November 13, 2018
Last but not least, it would appear a “secret Komodo-related project” is currently in development. Nothing is known about it, other than how it will be of value to traders and speculators alike. What the project entails exactly, is impossible to tell, but it certainly generates some buzz on Twitter. Any development to strengthen the ecosystem is positive in this day and age.
*100% created by #KMD community members
*Nothing similar exists in crypto space
*Many traders/investors will go crazy for it
*Web-based but w long term goal to leverage @KomodoPlatform tech to make it p2p
— KomodoWorld (@KomodoWorld) November 12, 2018
Based on all of these developments, it is safe to say the Komodo price may only be just getting started. Although there is a very real chance this price trend will reverse course at some point, there is some money to be made regardless. If the trading volume picks up a bit, things could get quite interesting moving forward. Komodo offers some relief whereas other top markets continue to struggle first and foremost.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency