This Week’s Cryptocurrency Trade is Komodo (KMD) which has a market cap of $79.5 million and is ranked number 467 on Coinmarketcap.
![](https://cryptoacademy.nl/wp-content/uploads/2022/04/kmd-chart-daily-1-1024x574.png)
For our Crypto X10 Challenge and other crypto portfolios, we already have this coin in our portfolio. Komodo is an open, composable multi-chain platform. With blockchain development roots dating back 8 years, Komodo is reportedly one of the pioneers of multi-chain architecture in the blockchain space.
As of August 2019, Komodo is focused on delivering enterprise-friendly blockchain solutions that are secure, scalable, interoperable and customizable.
Komodo’s current technology suite, the Antara framework, provides tools for end-to-end blockchain development and an open API for building blockchain-based applications.
KMD’s price soared after the project added support for 13 blockchain networks and announced plans to launch an NFT collection.
Chart-wise, KMD has been showing a strong performance in recent days, which has also been accompanied by high volume. We already took the opportunity to buy KMD recently. Around the current level of $0.60, we still consider KMD worth buying. Target price 1 is $0.80 for the short term and target price 2 is $1, which is a level that was also reached at the beginning of this year. Bottom line: these are good reasons for us to add this coin to our crypto portfolio.
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