Komodo (KMD) up 50%: why is Komodo price rising?

Komodo (KMD) token has surprised many after unleashing a 50% price surge that pushed its price to a daily high of $0.3349. The native token of Komodo Platform, the open-source blockchain technology provider and home of Komodo Wallet (a non-custodial crypto wallet), cross-chain DEX, and bridge rolled into one app is today’s top gainer among the most trending cryptocurrencies.

But what really caused Komodo price to surge that high today? Well, in this article we shall delve into the factors pushing the price of KMD up.

Why is Komodo price going up?

The main reason behind today’s Komodo price rise is the increased activity on the Komodo Platform after it announced the creation of AI art that embodies the spirit of 10 crypto projects listed on Komodo Wallet.

🎨 We created AI art that embodies the spirit of 10 #crypto projects listed on Komodo Wallet!https://t.co/Il68wUnOFu

Which is your favorite from this group?

Which projects should we make artwork for next?

1. @RunOnFlux ($FLUX) pic.twitter.com/qFi4LpiUAG

— 🦎 Komodo (@KomodoPlatform) August 24, 2023

The crypto projects depicted in the 10 AI-generated images include FLUX, STEPN (GMT), Travala (AVA), Brave (BAT), Action Coin (ACTN), Peercoin (PPC), AmbireAdEx (ADX), Paxos (PAXG), Harmony Protocol (ONE), and Navcoin (NAV). These images mark the second time that the Komodo platform is generating AI-generated images for cryptocurrencies in its crypto wallet.

In April, Komodo released a set of eight AI-generated images embodying the spirit of eight crypto projects, among them Dogecoin (DOGE), Qtum (QTUM), Polygon (MATIC), Dash Pay (DASH), Avax (AVAX) DigiByteCoin (DGB), GnosisDAO (GNO), and Ravencoin (RVN).

In addition to the AI-generated artwork, Komodo recently also announced a contest in partnership with Navcoin that will see winners share $200 in $NAV.

Komodo Wallet <> Navcoin Contest
10 winners x $20 each in $NAV

1. Follow @KomodoPlatform & @Navcoin
2.❤️&🔁this post
3. Create a new Komodo Wallet (web) https://t.co/Il68wUngPW🖥️
4. Find your Komodo Wallet $NAV (native) address. Comment it below this post (text & screenshot)🗨️ pic.twitter.com/yVTLA1dSiF

— 🦎 Komodo (@KomodoPlatform) August 23, 2023

Komodo also announced that Komodo Wallet is now their premier decentralized platform for Wrapped XEP to XEP swaps.