Over the past year, Interoperability among different blockchain networks is becoming quite a prime topic in the cryptocurrency market. But a few major exploits like the Wormhole exploit of $321 million, had made it quite hard to achieve cross-chain transfers safely.
One protocol that has acquired some traction in February because of its different approach to reach cross-chain interoperability is Komodo. A composable and open multi-chain platform, home to non-custodial decentralized exchange and AtomicDEX wallet.
TradingView and Cointelegraph Markets Pro data present that after striking a low of $0.446 on 20th February. The KMD token price of the platform has increased by 54% at a daily increase of $0.687 on 22nd February.
There are three different reasons behind the price spike of KMD;
- The recent inclusion of 13 different blockchain networks support with AtomicDEX
- Freshly issues NFTs (Non-Fungible Tokens)
- Atomic swaps’ secure nature on AtomicDEX
In 2022, the inclusion of 13 different blockchain networks supported with AtomicDEX has been the most remarkable growth for the Komodo protocol to help boost the price of its tokens. AtomicDEX has been one of the handful of decentralized exchanges that offers a large range of assistance for networks that share source code. Along with BTC (Bitcoin), Dogecoin (DOGE), BCH (Bitcoin Cash), and Litecoin (LTC) and not just ETH (Ethereum) Virtual Machine-compatible networks.
Some other chains might integrate with AtomicDEX soon. Some of them could be, based on various parties’ comments, Cosmos, Digibyte, and Polkadot.