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Kusama (KSM): The Polkadot Cousin Is Doing Well

September 2020

Kusama (KSM) positions itself as an early version of Polkadot (DOT), an altcoin for blockchain interoperability that is deemed by many as one of the most promising projects of late that might be capable of resolving the scalability issue that still holds the Ethereum Foundation from launching the version 2.0 of its network. Recently, DOT has taken the cryptocurrency realm by storm, having landed at the 5th spot in global ranking with a market capitalization of $4.4 billion.

The canary is preparing to fly higher

Kusama is a blockchain platform built using the open-source framework called Substrate, which serves as a playground for developers who can build, test and deploy chains there, along with their governance and validation capabilities. It was established in 2019 by Gavin Wood, who is known among members of the crypto community as the founder of Polkadot and former technology officer at Ethereum Foundation.

Even such a brief analysis of Kusama’s fundamentals tells us that this relatively young altcoin (it was first listed on exchange platforms in September 2019) holds immense potential because it is directly linked to the ecosystem that might deliver the real solution to the problems of scalability and interoperability, the factors that greatly hinder the mass adoption of blockchain and crypto. In fact, KSM has greatly outperformed its cousin DOT in the past 30 days, which is evident from the chart below.

KSM/DOT comparison chart   

The all-time chart demonstrates the explosive growth that KSM has had in the past couple of months, which aligns perfectly with the entrance of Polkadot into the cohort of elite cryptocurrencies, while Kusama, which is nicknamed the “canary in the coal mine,” established a foothold at the 43rd spot with a market capitalization of $386 million and the average daily trading volume of $70 million.

KSM all-time chart

Over the past 90 days, the average trading volume of KSM has increased twenty-fold from $3 million per day to $60 million, demonstrating the rising demand for Kusama among traders. The value of KSM has risen by more than 200% against USD, BTC, and ETH - its yearly gains are also quite mind-blowing.

KSM performance profile

When it comes to more immediate price action, Kusama experienced a first major pullback after the explosive growth in the second part of August. KSM lost 52% of its value in just three days, caused in no small way by the massive selloff across the entire cryptocurrency market.

1-day KSM/USDT chart

However, this pullback can be deemed as a crash test, which Kusama passed in flying colors since the price held firm near the psychological level at $30, while staying high above both critical exponential moving averages: 50 EMA and 200 EMA, thus showing that the uptrend is not endangered, unless the price goes below the current support at $30.25 and the 50 EMA.

The next five to ten days are going to be decisive for Kusama since the price will have to break the symmetrical triangle formation either to the upside or the downside, which will determine the further trend development.

We expect KSM to breach the triangle to the upside since the price has seen an explosive recovery to $45 after testing the support, which aligned with the bullish crossover on MACD that also shows the growing green histogram. The indicator’s moving averages still has to move further apart from each other in order to confirm the bullish momentum, but the probability of break to the upside, and a trip to $60, is significantly high.

Author: Alex Paulson for


Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 70% 54 $57 166.61 -2.12% 4.10% $1 127 329 545 211 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 44 $3 070.99 -2.25% 5.46% $369 167 217 266 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000049 0.01% 0.03% $112 374 361 210 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 76% 48 $520.64 -2.29% 9.38% $76 837 630 350 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 80% 32 $135.42 -5.31% 5.44% $62 826 709 699 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.2% 2 $0.999910 -0.01% -0.01% $33 964 017 448 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 76.4% 40 $0.470631 5.59% 14.50% $26 263 748 545 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 82.4% 32 $7.30 2.00% 10.56% $18 295 734 723 TON 7 days price change
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10 Cardano (ADA) ADA Cardano predictions 80.8% 38 $0.399814 1.83% 20.69% $14 344 205 229 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 78.4% 33 $0.135897 1.12% 11.14% $11 841 337 472 TRX 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 96% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 94% 2 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 54 $24.98 -2.91% 7.15% $9 850 303 701 AVAX 7 days price change

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