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KSM Spikes 30% to a Two-Month High Ahead of Kusama’s Parachain Auction Start
2021-09-03 23:52:23 Primitive Reading

 

With the anticipation building ahead of Kusama’s upcoming parachain auctions, the price of the native token has skyrocketed in the past 24 hours to a two-month high at nearly $400.

  • CryptoPotato reported earlier this month Kusama’s announcement in regards to the new parachain auctions.
  • This edition comes after the success of the previous six auctions, which saw massive competition between participants. They took place between June 15th, 2021, and July 20th, 2021.
  • Some of the success stories from July included Polkadot’s DeFi hub – Acala. The project managed to raise over $100 million in KSM tokens from over 8,000 different addresses.
  • The next one – the Sixth Kusama Parachain Slot auction commences tomorrow – September 1st, at 12:00 GMT. The following ones will begin on September 3rd and will continue until September 29th.
  • This would enable enough members to unstake their KSM tokens and be able to participate in the crowd loans.
  • It’s worth noting that the first auction seems likely to be won by Kilt – a blockchain protocol for issuing self-sovereign verifiable, revocable, anonymous credentials. The protocol has already gathered over 151,000 KSM tokens valued at roughly $60 million as of now.

  • The project that comes next is Calamari, which has accumulated just over 80,000 KSM.
  • It seems that the anticipation for the parachain auctions and the buying spree of some projects have already impacted the price of Kusama’s native cryptocurrency.
  • Earlier today, KSM had dipped all the way down to $297 (on Bitstamp). Since then, though, it exploded by roughly 30% in a matter of hours and peaked at $385, which became the highest price tag in more than two months.
  • Looking on a larger scale – more precisely since the end of the previous parachain auction on July 20th – KSM’s value has surged by more than 170% as it dipped below $140 back then.
KSMUSD. Source: TradingView

Disclaimer: This specification is preliminary and is subject to change at any time without notice. MYTOKEN assumes no responsibility for any errors contained herein.

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