Following Coinbase’s announcement[1] on 11 April to list over 50 assets made up of 45 ERC-20 tokens and 5 Solana Program Library tokens on its exchange and the ensuing allegations[2] of insider that followed, the prices of some of these tokens have shot up due to an upward trend. One of such token is the KROM token which has recorded over a 100% gain in its price.
What’s KROM?
KROM represents the digital token issued by Kromatika Finance[3], a decentralized exchange (DEX) for trading crypto with its selling point being zero swap fees, elimination of front-running bots and its ability to prevent price slippage.
Following Coinbase’s announcement of 11 April, a look at price charts revealed a spike in price for the token. Prior to the announcement, the token was trading at a price of $0.0525 on 10 April. However, at the time of this press, the price for the token has rallied up 119% to a high of $0.1150. This represents a 56.8% decline from an ATH of $0.2659 which it recorded last November.
Source: Coingecko
Prior to the announcement , on-chain analysis for the token revealed that as at 10 April, the market cap for the token was $4,905,078. However, at the time of this press, the market cap for the token was around $9,472,656. This represents a 93% spike in market capitalization suggesting an inflow of money into the token.
Similarly at the time of writing, the trading volume for the digital token stood at $724,922, a 370% increase from figures of $154,263 recorded prior to the announcement on 10 April. This likewise, is an indication of heavy on-going trading activity of the token.
Source: Coingecko
The Launch of Kromatika v2
Besides the intended listing on
