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Tag: Parachain

  • Kusama (KSM) coin – Parachain auction to push KSM towards $600?

    Kusama (KSM) coin – Parachain auction to push KSM towards $600?

    Kusama (KSM) has been trending downwards after showing some bullish momentum in early July. At the time of writing, Kusama stands at a price level of $181.93. The price has fallen by 8% in the past twenty-four hours while the trading volume has fallen by 4%. Kusama has been one of the worst performing cryptocurrencies in the weekly timeframe. The cryptocurrency has fallen by 24% in the past seven days.

    The market outlook for cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with nine indications standing at a neutral position and. Only two indicators suggesting a buy.

    Kusama (KSM)

    Kusama (KSM) had been operating on a coherent wave count. The cryptocurrency has completed the first two waves of the series which were marked by bearish momentum. The third wave of the series is expected to take the cryptocurrency to new heights. The fourth wave lies at the target price of $382. This may be a more bullish scenario but with the parachain auction on the network ending soon, anything can be expected from Kusama’s network.

    The analysis might not be too off as the future prediction for Kusama are very bullish. According to the estimates of Wallet Investor, Kusama is expected to have a price level of $651 in a year’s time while the five-year projection places the cryptocurrency at a staggering price of $2392.

    Kusama (KSM) parachain auction

    Kusama is parallel to a test network for Polkadot. The blockchain is meant for experimental purposes to boost innovation and increase interoperability of the blockchain. The widely-anticipated parahcain launch of the Kusama network started earlier this month. The parachain auction on Kusama started on July 8th. Projects bid by buying KSM to get their names on the few available parachain slot. The first three auctions resulted in Karura, Moonriver, and Shiden Network winning slots. The remaining two auctions will be marked by high competitiveness as the projects’ bids are quite close to each other unlike the first three where the winners were distinct.

  • Kusama (KSM) coin towards $500 as parachain auction nears?

    Kusama (KSM) coin towards $500 as parachain auction nears?

    Kusama (KSM) is on an uptrend since the establishment of its market crash low. The cryptocurrency is soaring high partly due to the parachain auction to be held soon on the network. At the time of writing, Kusama coin stands at a price level of $422. The price has increased by 5% in the past twenty-four hours while the daily trading volume has declined by 5%.

    Kusama (KSM) Technical Analysis

    The market sentiment for Kusama (KSM) is bullish. Out of the twenty-six technical indicators, fifteen are giving out a signal of buy with nine standing at a neutral position and only two indications of sell. Both the oscillators and moving averages are bullish.

    Kusama (KSM) technical analysis
    Kusama (KSM) technical analysis

    Kusama coin is highly bullish even though the larger crypto market remains bearish or neutral. In the shorter timeframes, Kusama is moving downwards but the cryptocurrency can find strong support at $380. The analysis suggests that the bulls may soon overtake the cryptocurrency. A major chunk of the technical as well as the fundamentals suggest Kusama to reach higher and break the resistance level at $500. If the price target of $500 is broken, the next potential target at $645 will be activated.

    Kusama (KSM) parachain auction

    Kusama has been soaring high as the cryptocurrency nears its parachain auction. Kusama and Polkadot, together, are taking the integrability of the blockchain space to the next level. Both the blockchains will connect 100 parachains into Polkadot’s central Relay Chain. However, with a limited number of parachain being facilitated, parachains will be chosen via an auction. With bids touching the sky, the parachain launch will mean sky-high process for KSM and DOT. Karura Network has raised $100 million in a crowd fund to bid on the auction.