Komodo Jumps 15% as Get Cred Rolls Out Two-for-One KMD

Komodo (KMD) rose 15% in value over the morning of Wednesday, Aug 29th, recovering to a three-week high in the process. Today’s growth returns Komodo to its Aug 7th price, and comes hot on the heels of a two for one deal on KMD coins on micro-investing platform, Get Cred.

Komodo Price Boosts 15%

The last twenty-four hours haven’t been plain sailing for KMD; the coin lost 5.97% of its value between last night and this morning. But at 03:30 UTC this morning the coin hit a low of $1.26 and the volumes started to surge. KMD went on a run over the next twelve hours to a peak of $1.45 – a valuation we haven’t seen on KMD since August 7th, just over three weeks ago.

Volumes have doubled for the coin in that time, rising from $900,000 to just over $1.8 million, with the majority of that figure coming from Binance. A little over 60% of the coin’s trades have come in the form of the KMD/BTC pair on Binance alone, with KMD/KRW trades being the next most popular with around 12% on Upbit.

ETH trades are near non-existent, with only $110,000 worth over the last twenty-four hours, or 6% of the daily total. Komodo is listed on relatively few exchanges – just nine to be exact. Although, luckily for KMD fans they happen to be some of the big ones.

KMD sunk to a valuation of $0.96 on August 14th when BTC took its most recent nosedive. That was the lowest valuation since July 2017, and today’ surge means KMD has recovered 51% of its value in the past fourteen days.

The dominance of Binance activity today might be a sign that Western investors are just waking up to the news that KMD is essentially half-price on the Get Cred platform – the news of which broke just last night.

Get Cred Adds KMD

Given Komodo’s constant growth over the last two weeks, it would be easy to dismiss today’s news that a recently launched crypto micro-investments venture is giving away $10 worth of KMD for every same dollar amount bought.

They say there’s no such thing as a free lunch, and that may yet turn out to be true. But not many people know that. So in all likelihood the offer of half-price KMD will have been enough to register a change in the coin’s numbers, but probably not the whole 15% daily growth.

A Komodo hardfork update is scheduled for early September when the blockchain reaches its millionth block. The update will include a feature where staked KMD coins of at least ten in number will generate yearly returns of 5%. Following the update, interest will be able to be withdrawn every month, instead of every year, and this may also be moving investors to stock up on KMD.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.