With anticipation rising ahead of the upcoming Kusama parachain auctions, the price of the native token has skyrocketed over the past 24 hours to a two-month high of nearly $ 400.
- CryptoPotato Kusama’s announcement of the new chain guard rods earlier this month.
- This edition comes after the success of the previous six auctions, which saw strong competition among the participants. They took place between June 15, 2021 and July 20, 2021.
- Some of the July success stories included Polkadot’s DeFi hub – Acala. The project managed to raise over $ 100 million in KSM tokens from over 8,000 different addresses.
- Next up – the sixth Kusama Parachain Slot auction starts tomorrow – September 1st, 12:00 GMT. The next ones will start on September 3rd and will continue until September 29th.
- This would allow enough members to unlock their KSM tokens and be able to participate in crowd loans.
- It is worth noting that the first auction appears to be won by Kilt, a blockchain protocol for issuing verifiable, revocable and anonymous autonomous credentials. The protocol has already raised over 151,000 KSM tokens worth approximately $ 60 million at the time.
- The next project is Calamari, which has amassed just over 80,000 KSM.
- It seems that the wait for the chain guard auctions and the rush to buy some projects have already affected the price of Kusama’s native cryptocurrency.
- Today, KSM dropped as low as $ 297 (on Bitstamp). Since then, however, it has exploded by around 30% in just a few hours and peaked at $ 385, which became the highest price in more than two months.
- Looking on a broader scale, more precisely since the end of the previous chain guard auction on July 20, KSM’s value has increased by more than 170% as it had dropped below $ 140 at the time.
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