KSM Spikes 30% Ahead of Parachain Auction Date

It’s a bit surprising how the price of KSM has risen just a day to the start of Kusama’s parachain auction!!

With high expectations against the forthcoming parachain auctions, the price of this native token has climaxed in the last 24hrs to a two-month high at nearly $400.

Kusama announced the parachain auctions last month. This edition follows the success of 6 previous auctions, which conquered tremendous competitions between participants on June 15th and July 20th, 2021.

KSM Notable successful projects from July

Notable successful projects from July are the successful raising of over $100 million in KSM tokens from over 8,000 various addresses. Big win for Polkadot Defi Hub – Acala.

The next one is the 6th Kusama parachain auction which commences in less than 24 hrs from now @ 12.00 GMT. The next one begins on September 3rd and runs till September 29th.

This will help enough members unstake their KSM tokens and partake in crowd loans.

It’s also worthy to note that the first auction seemed 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.

Next upcoming project is Calamari

The next upcoming project is Calamari which has accumulated just over 80,000 KSM. It looks like the anticipation for the parachain auctions and buying spree of some projects have a significant impact on Kusama’s native cryptocurrency.

Very early today, KSM dipped so low to $297 (on Bitstamp), from that time, it has risen by roughly 30% in hours and climaxed at $385, which has become the highest price tag in more than two months!!

On a large scale precisely; since the end of the last auction on July 20th, KSM’s value has increased by more than 170% as it dipped below $140 back then.