KROM: Despite insider trading charges, how this coin managed to double under a week

ambcrypto.com:

Following Coinbase’s announcement 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 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.

KROM represents the digital token issued byKromatika Finance, 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

Besides the intended listing on Coinbase, the spike in price for the KROM token can also be attributed to the intended launch of its Kromatika v2 which is