When talking about the Polkadot network, the Kusuma network is inseparable. It is like two coins complementing each other.
Polkadot and Kusuma were discovered by the same person, namely Dr. Gavin Woods. Somehow Dr. Gavin Wood gave the name Kusuma, it’s like a name in Sanskrit.
Kusuma at the time of the press was ranked 43rd, on the crypto rating site Coinmarketcap.
The KSM token price is quite expensive at $ 384.28 at the moment, with a total circulating supply of 8,470,098 KSM and a total supply of 9,651,217 KSM. Only a few percent remains to reach the total supply, this may be the reason why the price of KSM rose so high today reaching 12%.
Work from home CFD, forex trading online with TenkoFX
TenkoFX broker regulated by IFSC Belize
- 1 Kusuma Crypto explained
- 2 What does Kusama crypto do?
- 3 Kusama crypto project
- 4 What is the KSM token?
- 5 Kusama crypto price history
- 6 Kusama crypto where to buy
- 7 Kusama crypto price prediction
- 8 Is Kusama crypto a good investment?
- 9 Final Thought
Kusuma Crypto explained
In a simple sense, the Kusuma network is a cousin of Polkadot. The Kusuma network is the place for initial proof of a project before it is carried out in the Polkadot network.
Kusuma is a Canary network, which is unaudited, so there is no promise that the project will run perfectly.
So Kusuma is the initial version of Polkadot, when a new project is entered in the Polkadot network, through Kusuma, it will be known earlier of any bugs or other problems before being used on the Polkadot network which is the main net.
The Kusuma logo takes a picture of a canary, therefore the Kusuma network is said to use the canary network. Kusuma will always exist as long as the community still maintains it.
What does Kusama crypto do?
The Kusuma network acts as the initial network where a project is piloted, through a process called an auction.
Where the auction chain relay chain slot is without permission. The Kusuma network will roll out to make sure the testing and optimization go smoothly.
The Kusuma network is open to everyone, the auction mechanism may vary from one team to another, but in general, it follows the rules.
- Design Parachain in Substrate.io
- Test and optimize locally, then on a Testnet like Rococo
- Determine a slot lease auction strategy.
- Join an auction and bid away.
- Apply to the slots earned after the start of the rental period.
- Extend at the end of the lease by participating in other auctions.
Kusuma has a goal as a means of developing cutting-edge blockchain technology. It is open to all communities who wish to participate in new blockchain projects before proceeding to Polkadot governance.
Kusuma even used a tool from parity technology earlier than Polkadot because this was the initial testing site.
Kusama crypto project
One of the most popular Kusuma projects is Chainlink.
Chainlink is a decentralized oracle network. Chainlink (LINK) is designed as a blockchain-based middleware application that functions as an intermediary between blockchain technology and non-blockchain technology.
This network allows smart contracts to connect with off-chain data providers such as commercial bank accounts, data feeds, and web APIs (Application Programming Interface).
Chainlink decided to use the Kusuma network, before later being integrated into the Polkadot network.
One important tool of the Kusuma network for attracting new projects is the treasury. These are tokens that are collected from fee transactions which can later be used for funding.
What is the KSM token?
KSM is Kusuma’s native token, which is used on the Kusuma network for all transactions on the network.
KSM can be said to be Polkadot’s shadow token, if you look at the KSM token price compared to DOt it is lower because this is still a trial, but Kusuma is not a Testnet.
KSM token is currently one of the cryptocurrencies that have experienced a high increase. With a market capitalization of more than 3 billion USD, the KSM price has reached $ 400. Even the KSM token hit an all-time high in March 2021 at a price of $ 549.
By owning a Kusuma Token, you can participate in staking and make transactions or transfers within the Kusuma network.
When using KSM tokens to participate in staking, it is possible to earn earnings from the mining process.
Kusama crypto price history
The history of the KSM token price started with a very low price, in January 2020 it was only around $ 1. Prices are gradually increasing slowly but significantly.
Until the end of 2020, the KSM price will reach $ 55. This is an extraordinary process wherein a year it has increased by more than 500%.
The extraordinary event where the price increased drastically occurred from February 2021 to the end of March 2021 when the price went up from $ 99 to reach an all-time high of $ 539.
After the price hit an all-time high, it fell to $ 431 on April 4, and the decline continued until it reached $ 301 on April 25, which became the first support point. At this point, the price bounced back up and reached $ 406 on April 27, 2021. The high daily volume caused the price to increase by 14.10% in just one day.
Kusama crypto where to buy
After knowing the KSM price history, maybe it is enough to make you interested in buying KSM crypto. Buying is the easiest way to get KSM. To buy KSM requires an exchanger that provides KSM tokens. The following are some of the exchanges that allow you to buy or trade KSM crypto.
Binance KSM crypto
The Binance exchange is well-known to cryptocurrency enthusiasts, it provides a large selection of pairs to trade.
You can buy KSM on this exchange, where Binance listed KSM on September 02, 2020 which is paired with KSM/BNB, KSM/BTC, and KSM/BUSD.
Buy KSM Kraken
The next option is Kraken, this exchange is already very popular and provides a choice of cryptocurrencies, including Kusuma which is paired with KSM/USD. KSM /EUR, or KSM /BTC and KSM/ETH.
With a competitive trading fee, Kraken can be an option to buy KSM for especially US-based users. Visit website.
Buy KSM Bittrex
KSM has become a widely traded cryptocurrency on world exchanges, including on Bittrex. Users can trade KSM in pairs on KSM/BTC.
Although there are not as many options as Kraken and Binance, Bittrex is an alternative exchange that allows you to trade KSM. You may need another exchange like Coinbase to get some BTC for trading KSM. Visit website.
Buy KSM in MXC
MXC exchange besides you can get DOT tokens which are KSM cousins, you can trade KSM tokens through this exchange by finding the KSM/BTC and KSM/USDT symbols.
USDT is Tether stable coin pegged at 1 $, MXC is an exchange platform that offers ease of use. There is a large selection of cryptocurrencies including popular ones like Bitcoin, Dogecoin and so on. Visit website.
Buy KSM On Hotbit
Hotbit can be another alternative to buy KSM. Although compared to popular exchanges such as Binance, Kraken, or Bittrex, they offer KSM/USDT and KSM/BTC pairs.
If you have good experience with Hotbit, you can buy KSM on this exchange. However, this exchange rate gets a reputation for being poor, so it is not the main recommendation. Visit website.
Buy KSM on Okex
Okex is an exchange founded by someone by the name of Star Xu, the exchange is headquartered in Malta. And includes a long-lived crypto exchange, launched since 2014.
Provides various cryptocurrencies including KSM which you can trade on the KSM/USDT pair and KSM/BTC as well as KSM/ETH. Visit website.
Buy KSM on Huobi
Huobi is an exchange that has been operating since 2013 and has earned a good reputation from cryptocurrency enthusiasts.
Huobi is an exchange that originates in China, however they operate in various countries through Huobi Global, including Korea and Japan.
You can find the KSM/USDT and KSM/BTC pairs on this exchange. Visit website.
Buy KSM on Bibox
Bibox is an exchange that was launched in 2017 and originated in China. But from the reviews found on Trustpilot, Bibox got 45% bad reputation points.
There have been several issues faced by users and consider it a scam exchange. However, there are those who claim to have used this exchange for more than 3 years and it’s safe.
Users can trade KSM/BTC and KSM/ETH on this exchange. Visit website.
Kusama crypto price prediction
Monitoring the change in the price of KSM tokens lately is indeed very interesting because within a month the change in price reaches hundreds of percent.
Several forecasting sites have summarized their predictions for KSM prices in 2021, here are some predictions from these sites.
Digitalcoinprice prediction KSM price 2021
This forecasting site predicts the KSM price in February 2021 to reach $ 659.11 USD, March at $ 565.26 USD, April at $ 677.62 USD, May at $ 573.45 USD, Jun 2021, $ 602.06 USD, Jul 2021, $ 652.41 USD, Aug 2021, $ 616.77 USD, Sep 2021, $ 629.75 USD, Oct 2021, $ 676.21 USD, Nov 2021, $ 558.83 USD, Dec 2021, $ 553.15 USD.
Gov capital prediction KSM price 2021
Gov Capital, the forecast is even more excited, this forecasting site predicts the price of KSM for the next year to reach $ 1074.3115. this is up 168% from the current price.
The detailed month-to-month forecasts are summarized as follows, end of May $ 441.16, June $ 476,545, July $ 517,086, August $ 591,963, September $ 615,994, October $ 644,029, November $ 721,395, December $ 755,216.
Wallet investor KSM price 2021
The prediction from the Wallet Investor forecasting site does not seem much different from Gov Capital, this site predicts the KSM price in the next year to reach $ 1433,390, which is an increase of more than 200%.
In the short-term prediction, the KSM price could reach $ 408,031 in the coming May. In summary, in the forecast in 2021 the estimated price will range from $ 401,592 to $1433,390.
Kusuma price our own prediction 2021
Currently, the KSM price is at $ 391.76, down -1% from the opening price. Looking at historical lows in the first valley, we estimate that prices will range from $ 300 to $ 500 this year. It is likely that the price will move up and down within this range as a result of market trading.
However, if there is an important event on the Kusuma network, it might cause the breakout price above the $ 500 level.
Is Kusama crypto a good investment?
For crypto fans. this question desperately needs a reasonable answer. quoting from quora, there is a good answer which is the reason why KSM is good for investment.
Some of the reasons for this are as follows in one summary:
- Kusuma is a cousin of Polkadot, closely related to the Polkadot project. Because it is the initial testing of a project before it is implemented in the Polkadot network.
- Kusuma was discovered by a person who has experience in blockchain technology named Gavin Wood.
- Using the same codebase as the Polkadot network, Kusuma has reached more than 600 validators in 2020 and will continue to grow with an estimated 1000 validators.
- Kusuma Tokens are listed on many of the leading exchanges such as Binance, Kraken, Huobi, and others.
Is it worth holding Kusuma?
Because Kusuma is a canary network rather than Polkadot, KSM prices will tend to follow Polkadot developments.
Hundreds of projects in the Kusuma network are a plus for the possible value of KSM in the future. Fundamentally, Kusuma still holds promise as a great crypto asset for the future.
Crypto assets are risky commodities, including Kusuma. Present value does not represent future value. It can go up or down.
However, even though crypto is a risky asset, there have been several success stories of crypto investors who became rich because of the rising price of their tokens.
Read more article