Kusama (KSM) Analysis

4 min read April 23, 2024
Richard Fetyko

Kusama (KSM) Analysis

Kusama (KSM) Analysis

In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.

Kusama (KSM) technical analysis:

Trade setup: Trends are mixed. Bearish breakout from a Descending Triangle pattern, below 200-day moving average (~$36), could signal a trend reversal to Downtrend. Price needs to break back above that 200-day MA to maintain its long-term uptrend. No clear trade setup at the moment. (set a price alert).

Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).

Support and Resistance: Nearest Support Zone is $22. The nearest Resistance Zone is $33 (previous support), then $40 and $61.

See live Kusama (KSM) chart here

See more curated charts of coins with technical analyses.

Kusama_Tether_2024-04-23_18-37-37

Recent news and research:

Bifrost launches on Kusama-based Karura Swap with 200,000 BNC in rewards

Kusama (KSM) sees its first sold-out parachain auction

Primer on Polkadot & Kusama Parachains

Polkadot, Kusama Jump Ahead of Next Parachain Auction

Power of community: Moonriver receives over 200,000 KSM ahead of Kusama launch

Kusama’s DeFi Hub Karura Raises $100 Million in KSM Token Sale Ahead of Parachain Auction

Gavin Wood Announces Kusama Parachain Auctions

Polkadot (DOT) and Kusama (KSM) skyrocket in price after attracting $30M in funding

Find more real-time news here.

 

What is Kusama (KSM)?

Find full description and news on altFINS platform.

Overview

Kusama is an early, experimental version of Polkadot that exists as an independent network. It intends to act as a sandbox for developers, allowing teams to deploy and test pre-release versions of their projects before launching them on Polkadot’s mainnet. Kusama will also serve as a testbed for Parity Technologies leading up to the mainnet launch of Polkadot. Like its sister chain, Kusama uses a native token, KSM, to power computation and give holders the ability to participate in securing the network and voting on upgrade proposals.

Consensus

Kusama uses Nominated Proof-of-Stake (NPoS), comprising the roles of validators and nominators to maximize chain security. Validators take the role of both validating blocks and guaranteeing the finality of the chain, while nominators can help choose the set of validators by indicating their support weighted by KSM.

Usage details

KSM holders can use their tokens as follows: Bond to the network to validate transactions or launch a parachain Pay for transaction and messaging fees Vote on governance proposals or nominate validators into the capped validator set DOTs investors from previous token sales were able to claim a proportionate amount of KSM at their choosing. Parity Technologies also offered a KSM “frictional faucet” (i.e., one that limits the outputs per account) and issued token grants for those that did not invest in the DOT token sales. Parity Technologies and the Web3 Foundation also reserved 1% of the initial DOT supply (100,000 tokens) to Kusama stakeholders and its community. This reward serves to incentivize token sale investors and those new to Polkadot to participate within its sister network. Neither company has announced how they plan to distribute these DOT rewards.

Technology

The Kusama Network is the unaudited canary network of Polkadot and is, therefore,technologically identical to the Polkadot Network. Kusama intends to use a sharded model where parachains in the network have unique state transition functions. Based on Kusama’s design, as long as a chain’s logic can compile to WebAssembly (Wasm), then it can connect to the Kusama as a parachain. Like Polkadot, Kusama has a Relay-chain acting as the main chain of the system. Parachain propose new blocks of transactions to relay-chain validators, where the blocks undergo availability and validity checks before being finalized.
Asset profile is provided by messari. Original version can be found at Messari