What is Kusama (KSM) crypto? All you need to know

June 15, 2022 03:25 AM AEST | By Rupam Roy
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  • Kusama is a blockchain project offering developers interoperable and scalable services.
  • The KSM token trades on exchanges like Binance, OKEx, etc.
  • The token’s highest price in the last 30 days was US$88.91.

The Kusama (KSM) crypto attracted investors' attention on Tuesday after its price surged nearly 9% in the last 24 hours. However, its volume fell 15%, in line with a broad decline in the crypto market.

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What is Kusama (KSM) crypto?

Kusama is an experimental blockchain project offering developers interoperable and scalable services. It considers itself a "cousin" network of Polkadot, one of the popular interoperable blockchains. Kusama’s codebase is similar to Polkadot.

The protocol allows cross-chain transfers for any asset or data besides offering high scalability and security features. The protocol is built on Substrate, a blockchain building kit developed by Parity Technologies, the same team that created Polkadot.

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Kusama claims its projects can access scalable, interoperable sharded networks and features not found on Polkadot.

The network provides developers with a “testbed” to develop and deploy blockchains. According to Kusama, its platform can be used as a preparatory network before launching on Polkadot.

Its native utility token, KSM, trades on exchanges like Binance, OKEx, Huobi Global, etc.

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Kusama (KSM) crypto price and performanceData Source: CoinMarketCap.com

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Bottom line:

The KSM token was priced at US$49.97 at 12:17 pm ET on June 14, up 8.78%, while its volume for the trailing 24 hours plummeted 15.18% to US$86.89 million. It has a market cap of US$423.24 million, and its fully diluted market cap is US$482.58 million.

The token has a total supply of 9.65 million, and its current circulating supply is over 8.47 million. The token saw the highest price of US$88.91 and the lowest price of US$43.14 in the last 30 days.

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