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Why Investors Should Pay Attention to Komodo (KMD)

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The Komodo (KMD) platform can trace its roots back to 2014’s BitcoinDark, before it underwent a fork of the Zcash blockchain, and an eventual coin rebrand in March of 2018.

Another re-polish of sorts is in the pipeline for Komodo this year, but even in its current skin the platform has already garnered the attention of the crypto community for its utility, anonymity and customization options.

Komodo retains the zk-SNARK features of its parent chain, and incorporates a coin-tumbler typical of modern privacy coins. At the same time, transparency is catered for with the choice of z or t addresses, meaning users can utilize both anonymous and public addresses. But Komodo also has a few more tricks up its sleeve that set it apart from the average privacy coin.

Personalized Blockchains

First off, Komodo claims to be compatible with any of the popular programming languages, meaning smart contracts can be written in Python, PHP, Ruby, Pearl, Go and TCL. Front end web support is also catered for with JavaScript, CSS, HTML, and XML options available.

Komodo allows users to launch their own decentralized initial coin offerings (dICO) in a completely anonymous manner – without any kind of KYC or identification checks for investors. At the same time, users can build their own stand-alone blockchains – snapshots of which are stored every ten minutes on the Bitcoin blockchain in a delayed proof-of-work system (dPoW).

Another option open to users of Komodo is that of migrating their current blockchain to KMD – a process made easier by the aforementioned multi-language features.

DEX and Atomic Swaps

The Komodo DEX is already up and running and has so far processed 113,000 atomic swaps at the time of writing. An atomic swap is the process of swapping one coin for another directly via disparate blockchains, without the need for a centralized exchange. The ERC-20 version of the feature – the E-tomic Swap – can also be carried out on Komodo’s DEX.

Wallet With Interest

Komodo comes with a multi-coin wallet which rewards users who keep at least 10 KMD stored in it – equating to around $14 based on the current coin price.

KMD coins held in a Komodo wallet are subject to a 5% annual percentage rate, without the need to run a node or configure the wallet in any way. However, the 5% interest rate only applies to t-addresses (transparent/public) on the KMD blockchain, meaning users will have to forfeit anonymity to reap the gains.

The yearly interest payments are set to remain in place until the total coin supply of 200 million KMD is in circulation. The current circulating supply stands at just under 109 million.

Notable Mentions

Well, the Chinese seem to be big on Komodo right now, with the Chinese government ranking it in 16th place in their Global Public Chain Technology Evaluation Index – forty-four places higher than its market cap ranking according to CoinMarketCap.

Meanwhile, at the start of August, Binance CEO Changpeng Zhao (CZ) mentioned Komodo in a Fortune article where he drew attention to its customization features, suggesting that bespoke blockchains which are built for a specific purpose will outlast the current crop of more general blockchains.

Recent Performance

KMD recently hit a one-year low, falling to $1.19 per token on August 2nd – a price not seen since August of 2017. Daily volumes fell as low as $240,000 in July, some way off January’s peak of $78 million. The last three months have seen KMD ship 69% of its value, while the losses for the previous month amount to 20%.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 89 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Factom (FCT) Rides Recovery to 65% Gains as Mortgage Service Adopts Blockchain

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Factom (FCT) climbed 65% from Wednesday through Saturday, as it continued to ride the recovery wave while the rest of the market stalled.

The price surge comes amid news that Factom’s Harmony blockchain-as-a-service (BaaS) technology is to be used by mortgage software and marketing firm, Equator, as a way to increase efficiency.

Factom Price on the Move

The press release announcement landed on November 13th, just as the recent market dip struck which wiped $38 billion off the global market cap. The value of FCT sunk along with the rest of the market, hitting a new 20-month low of $3.81, and a market cap of just over $30 million.

Since then, however, FCT’s fortunes turned round and the coin went on a day-on-day growth surge up to a price of $6.30 – a 65% increase. That was enough to take Factom’s market cap to over $50 million, and send it into the top hundred coins by market cap.

Of FCT’s trade action for Saturday, 100% of trades have come against BTC. Factom only has one other trading pair to its name – the CK USD (CKUSD) stablecoin. Poloniex catered to the majority of movements, with Bittrex, Upbit and Cryptopia picking up the rest.

Factom Gains Mortgage Service Use-Case

As per the press release which announced Factom’s new partnership:

“Equator, an Altisource business unit and a leading provider of residential loan default software and marketing solutions for many of the country’s top servicers, real estate agents and vendors, today announced an agreement with Factom, Inc. to integrate the Factom® Harmony blockchain-as-a-service (BaaS) platform into the Equator® PRO solution.”

According to the press release, Equator PRO is a software-as-a-service (SaaS) solution that aims to offer efficiency and oversight to help other mortgage servicers. Their platform includes but is not limited to:

“…loan management, loan modification, short sale/deed-in-lieu, foreclosure/bankruptcy, and real estate owned (REO) focused products…”

In the plainest of language, Factom just got a real-world use-case for its blockchain tech. Thus far, the technology is expected to be used to:

“…provide a distributed mechanism to preserve data, files and digital records, making them verifiable and independently auditable…”

Celebrations

Patrick G. McClain, Senior Vice President of Equator talked up the partnership, stating:

“Incorporating Factom’s blockchain tools will support our customers’ compliance obligations. At Equator we are regularly working to improve and advance our default servicing technology, and adding cutting-edge tools like Factom’s Harmony is another example of our continued leadership.”

Chief Operating Officer of Factom, Laurie Pyle, also celebrated the news, stating:

“At Factom we know a practical blockchain solution is needed to specifically deal with complex business data and documents. We look forward to working with Equator, who shares the vision of using blockchain technology to bring transparency and efficiency to the default servicing process.”

Factom launched just over three years ago and was subject to lots of positive chatter up until the ICO era came into play, and Factom was relegated from CoinMarketCap’s first page.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 89 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Ethereum Price Analysis: ETH/USD Has Big Opportunity to Fly Again

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  • ETH/USD is running at seven consecutive sessions of losses, dropping as much as 25%.
  • Price action is moving within a strong demand area, which could very well see the price rocketing again.

Current Price Action

ETH/USD is stuck within a stubborn downward trend. The price is running at a seven consecutive session losing streak. During this time period, ETH/USD has dropped as much as 25%, falling from $226, down to recent lows of $171.95. This is the biggest weekly loss seen since the bear market back in September.

The price was trading in a consolidation manner; this had been the case after the above-mentioned bear market drop. ETH/USD at the time had dropped as much as 45%, before finally staging a recovery. Since the bounce on 12th September, price action began to form a bearish pennant pattern, which was then firmly broken on 14th November.

ETH/USD daily chart

Buying Opportunity  

At the time of writing, ETH/USD is seen trading deep within a known demand area. Buyers last pilled in and drove the price north, back on 12th September, as detailed above. It had gone on to gain a whopping 50%, following the hammer candlestick reversal confirmation. The demand can be eyed around the $170 territory.

Eyes should be on indications of a reversal, the potential for a signal from a candlestick formation, similarly to the prior mentioned recovery. In terms of the RSI via the daily time frame, ETH/USD is very much in oversold territory. The index seen around the 27 level at the time of writing, which could see the price soon bottoming out.

Upside Targets

Should life be kicked back into the bulls, another retest of the breached pennant pattern would likely be seen. Resistance underneath the pennant should be noted at the psychological $200 mark. The bears firmly ran through this price level on 14th November. Further north, another barrier can be observed at $230 area, a known supply zone.

There has been much debate over the past couple of months, as to whether the cryptocurrency market has hit the bottom. Many believed that this was the case, after the deep September drop. While some were still calling another corrective fall. Once some stabilization from the bulls is seen and recovery picks up momentum, this may be the last of the bears for 2018.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 54 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Zcash Price Analysis: $100 Bargain Buying

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  • ZEC/USD is running at four consecutive daily sessions closing in the red.
  • Chunky buying interest looks healthy within the $100 price region.

ZEC/USD is currently stuck within a very stubborn bearish trend, as seen across the crypto market wide. Several key areas have been breached, however the ZEC/USD bulls are heavily defending vital support territories. The price is running at its fourth consecutive session in the red, having lost over 25% within this trading period.

Recent Bull Failure

As covered in the previous article, the bulls were penetrating near-term stubborn resistance, seen just above $140 territory. Six solid sessions, ZEC/USD had tried to break above, but very much so failed, as a result, the price headed deeply south. Large spikes in volumes were seen with the move lower. It was forced to its lowest levels in over nine weeks.

Downside Targets

ZEC/USD daily chart

First of all, looking to the downside, there is much cover in terms of safety nets for the falling price. Chunky areas of demand are seen tracking from $108 all the way down to $96. In the latest moves lower, buyers have heavy defended a total free-fall. The mentioned demand region did prove its reliability back in the middle of September, during a heavy bear market.

ZEC/USD weekly chart

Observations from the weekly chart look potentially dangerous, should the bearish momentum maintain its current course. A firm breach through the $100 buying area could be devastating. The next firm area, given this is very much uncharted, can be seen at the round $90 level, which is a weekly support area. Further to the downside, $75 is the next target. This is a consolidation area, which was seen prior to the chunky bull run from the back end of April to June.

Above all, price behavior still points to further potential heavy moves lower. Following the weighted pressure on Wednesday and Thursday, price action has stabilized, trading in a consolidation nature. The range has narrowed, moving within $114 – 107. As a result, the current formation can be perceived as a bearish flag pattern, which is subject to extended moves south.

ZEC/USD 4-hour chart

Upside Targets

The $100 territory is very much attractive, as detailed above, historically for buyers. Should bullish momentum kick in around these levels, there is opportunity for a strong upside run. The ZEC/USD bulls will need to retest $140 area; given the number of times this has been tested, it wouldn’t be surprising to see a fast breach. Finally, looking further north, $160 could come quickly into play, high area of early September.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 54 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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