All articles tagged with #kusama
Kusama's (KSM) cryptocurrency surged by 119% in a single day, marking its largest gain in 2024, as liquidity shifted from Bitcoin to altcoins, particularly benefiting the Polkadot ecosystem. KSM's rally was fueled by its association with Polkadot and its perceived undervaluation, attracting investors. The token's trading volume reached $1.36 billion, the highest in three years, though it remains uncertain if this momentum will continue.
Kusama, Polkadot's experimental 'canary network,' has surged over 110%, reflecting increased activity and innovation in the blockchain ecosystem. This rise is seen as a precursor to broader trends, possibly linked to upcoming Polkadot developments and renewed interest in web3 solutions. Kusama's role as a testing ground for new ideas is attracting developers, exemplified by SubQuery Network's launch of decentralized RPCs, enhancing data retrieval and security for Polkadot and Kusama networks.
Shytoshi Kusama, the lead behind the Shiba Inu cryptocurrency project, prioritizes network adoption over token burning. While a "burn portal" is being developed to facilitate token burns, Kusama believes that the real growth potential lies in building projects on the Shibarium chain to increase adoption. The Shibarium platform has recently achieved significant milestones, surpassing one million transactions and accumulating over 1.1 million wallet addresses.