Kusama has just started to move upwards and today opened above the 200 MA.
I've been holding a nice bag of Kusama (KSM) and have been waiting for the token to moon. No surprise there as everyone does that, that's how many 100x their account. Catching a coin early is key. After the market correction that happened in May this year, KSM retraced to as low as $160 and in July you had the opportunity to fill your bags at $148.
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At the time of writing, KSM is trading at $343, which is 135% more than the July's low.
Why KSM?
KSM ATH is around $626, so we're almost halfway there, percentage wise we're talking about a 135% rise since July and things are going to accelerate soon. I'm thinking next week we could see KSM reaching higher levels.
Kusama is going to launch one parachain auction in September and after that, another five parachain auctions are coming. The auction is done using KSM tokens, which means whoever want to bid, must have and luck KSM.
I suppose those interested in bidding have already started to make steps towards acquiring he necessary quantity of tokens, but I'm not excluding a rally due to the higher demand.
The best thing about the token is that it is capped at 10M and 9M of it is already in circulation. Those eager to participate must buy from the market and when there's a high demand, price goes up, it's not rocket science.
At first I was skeptic about Kusama, but the more I dig into the project, the more I like it. I'm curious to see how are these upcoming parachain auctions going to affect the market. My plan is to take some profit and keep some for the long run as I suppose things are going to get interesting once all the tokens will be circulating.
Kusama is not the only token waking up. We saw ADA rallying and reaching a new ATH. BTC is also attempting to break the $48.1k resistance and hopefully reach the next one at $51k - $53k.
The most important one for us is obviously HIVE!!!!!! Funny as I'm looking at different charts every day but not HIVE. Hive for me is like keep accumulating and that's all. I'm checking the price every day to see where we are at, but I'm never charting HIVE.
However, at the time of writing HIVE is at $0.5277, which is amazing, compared to the lows we've been seeing the last few months. I truly hope the only way is up and we can see the real value of the token on the chart soon. All those developments we have are speeding up the process, so there's no way back.
