Why Kusama Crypto (KSM) Has a Real Chance of Reaching $1,000

Kusama crashed along with the crypto market. What's Kusama crypto's (KSM) price prediction, and will it reach $1,000?

Anuradha Garg - Author

Jun. 29 2021, Published 6:39 a.m. ET

Kusama logo
Source: Kusama Facebook

Kusama reached an all-time high of $623 in mid-May, but fell along with the crypto market on Tesla dropping Bitcoin payments and China’s crackdown on cryptocurrencies. Many investors are now wondering about Kusama crypto's (KSM) price prediction. Will it reach $10?

Article continues below advertisement
Article continues below advertisement

After falling to a low value of $157 last week, the KSM token has been inching up again, along with other cryptocurrencies. On Jun. 28, KSM closed at $218.

What's Kusama crypto?

Kusama, an experimental blockchain that brings projects to the Polkadot ecosystem, is built using Substrate and has almost the same codebase as Polkadot. It serves as a testbed for major developments before they're launched on Polkadot.

Article continues below advertisement
kusama canary network polkadot
Source: Kusama Facebook

It describes itself as Polkadot's "wild cousin" and canary network. Kusama points out problems and vulnerabilities in the code developers are writing. It's unaudited, meaning it's not as safe, but it does grant developers the freedom to test the limits of upgrades.

Article continues below advertisement
Article continues below advertisement

How many KSM coins are there?

As of Nov. 2020, there were 8.47 million Kusama (KSM) tokens in circulation of the total supply of 10 million. Unlike many other blockchains, KSM doesn't have a fixed supply and has an inflation rate of 10 percent per year.

Article continues below advertisement

Kusama's price prediction

  • Whereas WalletInvestor is quite bullish on Kusama and expects it to reach $783 in one year and $3,162 in five years (gains of 259 percent and 1,350 percent, respectively), Digital Coin Price sees KSM gaining 50 percent to reach $327 by the end of this year. TradingBeasts thinks Kusama could reach $397 by the beginning of Dec. 2021 and $560–$575 by the end of Jan. 2022.
  • Article continues below advertisement

    Is Kusama crypto a good investment?

    Due to Polkadot’s scalable and utility-based ecosystem, KSM is expected to rise along with it. Projects use the Kusama token to bid in an auction for parachain slots and the chance to make it to Polkadot.

    Article continues below advertisement

    Karura Network, which won the first auction on Kusama, is backed by millions in community contributions. A week before the auction, Karura raised 200,000 KSM tokens for $100 million to fund its bid, pushing KSM’s price to a high of $511.

    Will Kusama crypto reach $1,000?

    Karura's win shows that auctions could be very successful for Kusama going forward, taking its price even higher. Also, given that Kusama is four times faster than Polkadot, a $1,000 price tag doesn't seem unlikely.


    Latest Cryptocurrency & Blockchain News and Updates

      Opt-out of personalized ads

      © Copyright 2024 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.