Famous Names Had Warned, This Altcoin Did What Was Expected, Its Price Increased by 30 Percent!

0
23

Many popular and famous names Kusama he had warned his followers for. Analysts were saying that the parallel blockchain network auctions that will start this month will have a positive impact on the price. It was expected, and parachain a short time before their auction Kusama (KSM) their prices have increased by 30%!

Kusama (KSM)

KSM its price priced the upcoming auction. The price, which reached up to $ 400 during the day, rose by 30%. Seeing the highest level in the last two months Kusama (KSM) makes similar pricing during each auction period. In the last six auctions, intensive KSM purchases are being made with the pressure of projects that want to join the network. These assets are auction because it is locked for a certain period of time, the stock markets are experiencing a temporary supply contraction. Of course, this situation leads to positive price movements, as with every asset whose supply is shrinking and demand is increasing.

For example, to join the Polkadot network, the DeFi project Acala will receive $ 100 million from 8,000 different addresses KSM token he gathered support with the.

The parachain auctions, which will start as of tomorrow, will last until the end of the month. Community members who want to participate in auctions that will be held on certain days KSM he can keep collecting. Moreover, the prospect of joining the network of powerful projects also positively affects the price of KSM. But there is still something to pay attention to. There may be sudden price drops after Parachain (parallel chain) auctions. That is why it may be risky for you to buy at an increased price right now. Of course, cryptocurrency markets are extremely risky, and the information shared on our website does not contain investment advice.

 Polkadot (DOT)

Will Kusama rally and Polkadot stop? Of course not, the DOT price has also risen by over 20% today. Of course, it is the parachain auctions that we are talking about in detail that triggered the rise of both altcoins.

Let’s briefly summarize the topic for those who say what is a parachain and how these two altcoins are related. Firstly Polkadot and Kusama are two different sides of the same project. For example, a fashion ShOw project offers attractive features due to Polkadot (DOT) if he wants to serve on the network, he must first spend some time on the Kusama, that is, on the test network. Of course, this is done to prevent possible hacking problems and possible errors that may occur. Later, projects that were considered successful were transferred to the main network, that is, Polkadot (DOT) moving to the network. By creating a parallel network here (which is called parachain it is being tried) the project is being ensured to continue its activities.

Testing of projects, namely Kusama (KSM) the participation process in the network is also being done by auction to be more fair and decentralized. Community members support projects with the assets they have.

You can follow our news on our Telegram channel, Instagram, Facebook, Twitter accounts and Youtube channel.