July 29, 2021

Kusama (KSM) price jumps 70% ahead of the upcoming parachain auctions

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Kusama’s KSM price underwent a strong 70% breakout on Feb. 15 as excitement continues to build for the Kusama and Polkadot ecosystems ahead of the upcoming parachain auctions. 

Kusama price soars 70%

Data from Cointelegraph Markets and TradingView shows that KSM rose from $134 to a peak at $236 in the early hours of Feb.16 before profit-selling pulled the price back to $194.

KSM/USDT 4-hour chart. Source: TradingView

Kusama is an experimental interoperable blockchain platform that is often referred to as a “Polkadot’s wild cousin” due to having a similar codebase. The protocol is built on Substrate, the developer kit/framework for the Polkadot blockchain, and designed to be an interoperable, scalable framework for developers.

Projects that eventually want to launch on Polkadot have the opportunity to launch on Kusama first to test how their protocol will operate in the wild and to access features that are not available yet on Polkadot.

Social media activity, market sentiment rise for KSM

Scrolling through Kusma’s Twitter feed indicatesTitle: Kusama (KSM) price jumps 70% ahead of the upcoming parachain auctions
Sourced From: cointelegraph.com/news/kasuma-ksm-price-jumps-70-ahead-of-the-upcoming-parachain-auctions
Published Date: Tue, 16 Feb 2021 18:07:03 +0000