Earlier this month, Kusama announced a new parallel chain auction. KSM prices have soared to a two-month high of nearly $400 in the past 24 hours due to expectations established before the upcoming Kusama parallel chain auction. At the time of writing, KSM changed hands for $393, an increase of 32% in the past 24 hours.
Before Kusama's parallel chain auction began, KSM prices soared by 30% to a two-month high.
This edition was launched after the success of the first six auctions, which witnessed fierce competition among participants. They occurred between June 15th, 2021 and July 20th, 2021. Some successful cases in July include ——Acala, the DeFi center in Polkadot. The project managed to raise more than $100 million in KSM tokens from more than 8,000 different addresses.
The next time is September 1st, at 12:00 GMT. The following activities will start from September 3rd and last until September 29th. This will enable enough members to cancel their KSM tokens and participate in crowdfunding loans.
It seems that the expectation of parallel chain auction and the buying craze of some projects have affected the price of KSM.
Earlier today, the price dropped to $297. However, since then, it has soared by about 30% in a few hours and reached the peak of $385, the highest price in more than two months. On a larger scale-more precisely, since the last parallel chain auction ended on July 20th-the value of ——KSM rose by more than 170% when it fell below $140.
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On the day before Kusama's parallel chain auction began, AZCoin News first appeared that the price of KSM soared by nearly 30%.
