Buy Komodo (KMD) Ahead Of A Recovery

Komodo (KMD) is a coin that’s attracting a wave of speculative attention right now, despite the dip in volume we are seeing in the wider cryptocurrency space on the back of the Christmas and New Year breaks.

The coin ran from $2.95 on December 11 to more than $12 a piece by December 22 – a run of 306% in an 11-day period.

As things stand, we’re currently seeing something of a correction, with KMD trading in and around $8.50. We think this correction could be a nice opportunity to jump in and pick up some cheap coins ahead of a return to the upside.

Here’s what we’re thinking.

It’s worth noting here that the cryptocurrency space as a whole has undergone something of a correction over the last week or so but that, really, this isn’t a major concern. It’s the holiday season and the end of the year. People are exchanging to fiat to cover the costs of the period and taking profits ahead of the end of the year for tax purposes.

We’re almost certain to see a post-holiday boom pretty much across the sector and this boom is going to filter down from the big names (bitcoin, Ethereum, Litecoin) etc. to those coins at the lower end of the market capitalization rankings.

KMD is included in this.

Anyway, let’s get back to the point. What’s this one all about?

KMD is the cryptocurrency associated with a platform called (not surprisingly) Komodo and this latter platform is designed as a platform on top of which developers can build decentralized applications. Some readers will be thinking we’ve heard all this before but that’s not entirely true. Sure, there is a bunch of Dapp building platforms out there right now but Komodo is ahead of the pack for a few reasons.

KMD Daily Chart

First, it allows for the creation of private blockchains that underpin the applications being built, which then link into the Komodo blockchain.

Second, this blockchain linking network type setup then allows for a link to the bitcoin blockchain, which serves to underline the security side of the equation.

Third, BarterDEX. Technically, this isn’t a feature of the Komodo platform but that’s not too important. BarterDEX is a decentralized exchange built on top of the Komodo platform and – in many ways – is the first of its type. Why? Because it’s powered by what’s called Atomic Swap technology.

Anyone that’s spent a bit of time in this space over the last month or so will know that scaling issues and, specifically, issues associated with transaction fees and costs are a hot topic, especially as relates to bitcoin.

With the lightning network expanding (as allowed for by the SegWit fork), Atomic Swaps have become one of bitcoin’s best bets as far as overcoming these scaling issues are concerned and no company or exchange is as far ahead of the rest of the game in this arena than is Komodo. For anyone new to Atomic Swaps, it’s essentially a method of converting coins from one format to another direct from blockchain to blockchain, without having to go through a third party exchange. You can swap BTC for LTC, for example, or KMD for ETH, direct from chain to chain, based on a trustless contract that ensures both parties get (and do) what’s required from the transaction before it completes.

And it’s BarterDEX that’s really driving our bull thesis in KMD right now. If the Atomic Swap drive continues (and, given the current climate, we fully expect that it will) then BarterDEX is going to become a heavy hitter in the sector very quickly, pulling Komodo with it.

We will be updating our subscribers as soon as we know more. For the latest on KMD, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Komodo