Little-known altcoin Komodo (KMD) had a strong month amid the global lockdown. In the by 28 days the KMD coin price increased 102% against the dollar, while many larger cap cryptocurrencies struggled for momentum.

From a coin price of $0.239453 on March xvi, the value of Komodo climbed to a peak of $0.485010 on April 14 — a 102% increase.

KMD/USD 1 Month Chart

KMD/USD i Month Chart: Coin360

That's in stark contrast to the previous month'due south performance, which saw the coin toll drop by over 75% from February's high of $0.920051.

Komodo's contempo history

Komodo can trace its being in some form all the way back to 2022'south Bitcoin Nighttime. A project rebrand and a hardfork of the Zcash (ZEC) blockchain somewhen saw Komodo shift its focus to multi-concatenation compages, while retaining the privacy options of its parent chain.

Blockchain projects tin can build on Komodo's sidechains using 10 dissimilar programming languages, while its own blockchain is backed up on Bitcoin's every x minutes. In 2022 Komodo released its AtomicDEX - a decentralized atomic swap protocol which can trade coins between disparate blockchains without requiring a third-party commutation.

Komodo drew wide attention in late March when Ethereum founder Vitalik Buterin decried the lack of trustless methods of trading Bitcoin and Ethereum trustlessly. As the Komodo team pointed out at the time, the AtomicDEX is a method of doing precisely that.

While the project flew under Vitalik Buterin's radar, Binance CEO Changpeng Zhao (CZ) drew attention to Komodo as far back every bit 2022. In a Forbes article from August of that twelvemonth, CZ suggested customizable blockchains similar Komodo may be poised to outlast the previous generation'southward crop of general-use chains.

Komodo finds itself placed amongst the elevation 70 cryptocurrencies by volume as of press time. In the by 24 hours, KMD'southward largest marketplace was found on Binance, where the KMD/BTC pair accounted for $one.2 million worth of trades.