Kusama is an early release of the Polkadot blockchain and is hence sometimes referred to as Polkadot’s wild cousin.
It is an experimental platform that offers an interoperable and scalable framework for developers who want to launch their blockchain. It also serves as a preparatory network for Polkadot.
The platform is powered by the Kusama token (KSM), which along with parachain, serves as the governance token of the blockchain.
This article will discuss everything you need to know about the Kusama blockchain and its utility token KSM.
I will take a deep dive into the key features of the platform and the economics of the token and also talk about the future price forecasts of KSM.
Let’s get started without any further ado.
Kusama Key Features
| Experimenta | Kusama acts as a testground for developers looking to innovate and deploy their own blockchain |
| Interoperability and Scalability | The platform offers a massively interoperable and scalable framework for developers. |
| Faster Upgrades | Kusama can perform quick on-chain upgrades without forking the network. |
| Cross-chain Message Passing | Kusama supports XCMP, which enables communication with other parachains within the network. |
| Nominated Proof-of-Stake (NPoS) Consensus System | Kusama employs an NPoS consensus mechanism. |
| On-chain Governance | The ecosystem features a decentralized and permission-less on-chain governance system, allowing anybody with KSM or parachain tokens to vote on proposals. |
Kusama (KSM) Tokenomics
Kusama has a total market capitalization of 9,651,217 KSM and that is also the maximum supply. Out of these, 8,470,098 KSM are in circulation.
Kusama (KSM) Current Position
As I am writing this article, KSM is traded for $49.78, down 5% from yesterday. At a $421,301,151 market capitalization, the 24-hour market volume stands at $42,148,658.
Kusama (KSM) Price Forecast 2024
According to our technical indicators, the market is bullish about KSM while the Fear & Greed Index is at 80 signaling Extreme Greed. Kusama recorded 16 (53%) green days in the last 30 days with a high 9.00% volatility.
Our experts forecast that the price of KSM will go up by 2.67% and reach $ 50.83 by the first week of March.
Kusama (KSM) Price Forecast 2025
Coming to 2025, our analysts think that KSM prices will fall between $48.84 on the lower side and $ 123.50 on the upper end. If we compare the upper price target with today’s prices, this will be a return of 148.89%.
Kusama (KSM) Price Forecast 2030
Going further ahead, in 2030, KSM is expected to be traded between $ 33.29 and $ 344.11, according to our analysts. Compared to the current price, this will be translated into a 593.49% return on investment.
Where to Buy Kusama (KSM)
You can buy KSM from a centralized exchange like Binance, HTX, OKX, Bybit, Coinbase, Kraken, KuCoin, MEXC, etc.
How to Buy Kusama (KSM)
Simply follow the steps below to buy KSM from OKX.
- Visit the OKX website, sign up for a new account, and complete the KYC.
- Load your wallet with a popular cryptocurrency, say Ether, or a fiat currency.
- Buy USDT using your available funds.
- Go to the trading section and search for KSM/USDT.
- Choose ‘limit order’ and enter the number of KSM tokens you want to purchase.
- Click ‘buy’ followed by ‘confirm’.
- your KSM coins will now be reflected in your OKX wallet.
Conclusion
Kusama serves as a testing platform for developers to run new blockchains. It also offers a testbed for application on Polkadot, the original chain of Kusama.
The project is community-driven and is governed by the holders of KSM and parachain token holders. Thanks, partly to the ongoing blockchain bull run, KSM is gaining the attention of investors worldwide. Our analysts are bullish on the token for the coming years.
However, it is still worth noting that cryptocurrency markets, since their inception, have been extremely volatile and are expected to continue so for the foreseeable future. The reader is cautioned to do their research before plunging into investing in such risky assets.
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