December 6, 2022

KSM Spikes 30% to a Two-Month High Ahead of Kusama’s Parachain Auction Start

2 min read

With the anticipation structure ahead of Kusama’s upcoming parachain auctions, the cost of the native token has actually escalated in the previous 24 hours to a two-month high at almost $400.

  • CryptoPotato reported previously this month Kusama’s announcement in regards to the new parachain auctions.
  • This edition follows the success of the previous six auctions, which saw massive competitors between participants. They happened between June 15th, 2021, and July 20th, 2021.
  • Some of the success stories from July consisted of Polkadot’s DeFi center – – Acala. The task managed to raise over $100 million in KSM tokens from over 8,000 various addresses.
  • The next one – – the Sixth Kusama Parachain Slot auction begins tomorrow – – September 1st, at 12:00 GMT. The list below ones will begin on September 3rd and will continue until September 29th.
  • This would make it possible for adequate members to unstake their KSM tokens and have the ability to participate in the crowd loans.
  • It’s worth noting that the very first auction promises to be won by Kilt – – a blockchain protocol for releasing self-sovereign verifiable, revocable, anonymous credentials. The protocol has already collected over 151,000 KSM tokens valued at approximately $60 million currently.

  • The job that comes next is Calamari, which has actually accumulated just over 80,000 KSM. It seems that the anticipation for the parachain auctions and the purchasing spree of some projects have actually already impacted the rate 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 greatest cost in more than 2 months.
  • Looking on a larger scale – – more specifically considering that the end of the previous parachain auction on July 20th – – KSM’s value has actually surged by more than 170% as it dipped listed below $140 back then.
KSMUSD. Source: TradingView

KSMUSD. Source: TradingView