Komodo (KMD) Surges By 18% Following High Ranking By The Chinese Government

In today’s crypto news, we are focusing on one altcoin named Komodo (KMD) which is recently in the spotlight for spiking 18% and leading the day yesterday. The price boost of Komodo has bucked the trend of the general market which remains bearish following Christmas.

However, the multi-function blockchain project was given a very high ranking by the Chinese government in their blockchain technology assessment index which is basically a set of rankings from China’s Center for Information and Industry Development (CCID) and a regular fixture in the crypto space over the past year.

As the current rankings show, Komodo (KMD) is at joint-fourth position along with Ontology (ONT) both of which are trading four places higher than their ranking in September and one place lower than the month of August.
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The rankings are based on three criteria within the Chinese blockchain technology assessment index. As defined below, they are the following:

• Technology – “Basic technology mainly examines the technical realization level of the public chain, including function, performance, security, and decentralization.”
• Applicability – “Applicability mainly evaluates the comprehensive level of public chain support for practical applications, including node deployment, wallet application, development support, and application implementation.”
• Innovation – “Innovation focuses on continuous innovation in the public chain, including developer size, code updates, and code impact.”

Komodo here moved from a coin price of $0.657 to $0.775 leading a 18% boost. Over 90% of the action came from the KMD/BTC pair with Binance and Bittrex as the main hosts of these liquid markets.
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