This Week’s Cryptocurrency Trade is Komodo (KMD) which has a market cap of $79.5 million and is ranked number 467 on Coinmarketcap.
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.