The Kusama (KSM) crypto attracted investors’ attention on Tuesday after its price surged nearly 9% in the last 24 hours. However, its volume fell 15%, in line with a broad decline in the crypto market.
What is Kusama (KSM) crypto?
Kusama is an experimental blockchain project offering developers interoperable and scalable services. It considers itself a “cousin” network of Polkadot, one of the popular interoperable blockchains. Kusama’s codebase is similar to Polkadot.
The protocol allows cross-chain transfers for any asset or data besides offering high scalability and security features. The protocol is built on Substrate, a blockchain building kit developed by Parity Technologies, the same team that created Polkadot.
Kusama claims its projects can access scalable, interoperable sharded networks and features not found on Polkadot.
The network provides developers with a “testbed” to develop and deploy blockchains. According to Kusama, its platform can be used as a preparatory network before launching on Polkadot.
Its native utility token, KSM, trades on exchanges like Binance, OKEx, Huobi Global, etc.
Data Source: CoinMarketCap.com
The KSM token was priced at US$49.97 at 12:17 pm ET on June 14, up 8.78%, while its volume for the trailing 24 hours plummeted 15.18% to US$86.89 million. It has a market cap of US$423.24 million, and its fully diluted market cap is US$482.58 million.
The token has a total supply of 9.65 million, and its current circulating supply is over 8.47 million. The token saw the highest price of US$88.91 and the lowest price of US$43.14 in the last 30 days.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.