{"id":1223,"date":"2021-09-06T17:11:08","date_gmt":"2021-09-06T21:11:08","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=1223"},"modified":"2021-09-06T17:11:11","modified_gmt":"2021-09-06T21:11:11","slug":"kusama-price-movement-is-northwards-for-september","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/kusama-price-movement-is-northwards-for-september","title":{"rendered":"Kusama Price is Up 35%, KSM Bulls Setting Sights on H1 2021 Highs of $580"},"content":{"rendered":"\n
\"Kusama
Kusama Price Movement For September<\/figcaption><\/figure>\n\n\n\n

Kusama<\/a> is Polkadot’s<\/a> \u201cwild cousin.\u201d<\/p>\n\n\n\n

It is an experimental blockchain, a mirror copy of a pristine Polkadot\u2014the chair of blockchain interoperability.<\/p>\n\n\n\n

The blockchain is where dApps<\/a> can be trialed; all bugs fixed, potentially expensive lessons learned, and reset made before being ported over to Polkadot.<\/p>\n\n\n\n

Kusama Market Overview<\/h2>\n\n\n\n

Even so, Kusama is an independent, Relay Chain dependent ledger with Parachains.<\/p>\n\n\n\n

According to Polkadot, Parachain would be the ultimate scaling tool, allowing the chain to host independent dApps without throughput troubles.<\/p>\n\n\n\n

It will be weeks\u2014even months\u2014before Parachain is active on Polkadot. However, trials begun in earnest in Polkadot back in Q2 202, with the second batch of auctions activated on September 1.<\/p>\n\n\n\n

Since KSM is required, the coin is pumped, lifting DOT along the way. This could be the trend for the better part of this month, as interested votes can signal their support by locking KSM.<\/p>\n\n\n\n

At the time of writing, KSM is up 35 percent week-to-date, outperforming BTC<\/a>, ETH<\/a>, and the USD during the same time frame.<\/p>\n\n\n\n

Technically, Kusama crypto prices are within a bullish breakout pattern reading from price action in the daily chart.<\/p>\n\n\n\n

Specifically, the September 1 high-volume bull bar anchors price action defining the short and medium-term trends.<\/p>\n\n\n\n

Since KSM prices have been inching higher, soaking sell pressure as traders remain optimistic of more upswings, the coin could print a higher valuation in the days ahead.<\/p>\n\n\n\n

Kusama Market Movers<\/h2>\n\n\n\n

As mentioned, Kusama can be summarized as a canary network, boasting of Polkadot’s features but acting more of a secondary blockchain, a laboratory.<\/p>\n\n\n\n

To a broader reach, Kusama has extended support of ERC-20 stablecoins besides KSM as per their announcement on September 4.<\/p>\n\n\n\n

Through Kusama’s crowdloans, followers can lock their KSM and stablecoins, using them as votes and receiving freebies extended by the project.<\/p>\n\n\n\n

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1\/ We are now expanding our @Kusama<\/a> crowdloan to accept stablecoins in addition to KSM deposits, a first for any parachain auction.https:\/\/t.co\/rRBcPCtN0y<\/a><\/p>— Composable Foundation (@ComposableFin) September 4, 2021<\/a><\/blockquote>