KSM's Time Has Come
Ten days ago I had a post about Kusama (KSM), Eyes On KSM ๐ And Not Only, because I knew what's going to come. I don't have a crystal ball, don't get me wrong, but when you know what Kusama is and what it is used for, it's hard not to anticipate what's going to happen.
At the time of writing, KSM is trading at $343, which is 135% more than the July's low. source
This is what I wrote back then in my post. Till then, KSM dropped as low as $267. I've been accumulating ever since, adding to my bag slowly every time the price hit my buy zone.
This is what's happened today, this is how the chart looks like at the time of writing. KSM went from $296.4 to $421.3, which is around 40%.
This is nothing compared to what's going to happen.
The parachain auction is starting tomorrow. This means participants need to stake KSM in order to participate. In order to do that' they are crowdloaning KSM. Which means you can stake your KSM and get rewarded. If the participant doesn't win, you get your tokens back and some rewards as well. In case participant wins, your tokens will be locked for 48 weeks and get rewarded for your loan.
The total supply of KSM is 10,000,000 of which 9,000,000 are already in circulation. I don't know how much time it's going to take for that remaining million to be put to circulation, but once those are out, it will be interesting.
The battle has just started and I'm expecting the token to rally the upcoming period.
Looking at what KSM can achieve, it's still not too late to join the party.
I have a love-hate relationship with this token, which is turning slowly into a love relationship as things are speeding up. I made a mistake a few months back, which has already been corrected. Lucky me, I made the mistake with a good coin and not with a sh*tty one, haven't lost money, but locked some of my funds for a time. It wasn't tragic, but it serves as a lesson to remember. Now I'm happy to hold a bag of this size.
I can hardly wait to see what the next few days are going to look like, chart wise.
KSM is not the only one taking off. So many alts are moving fast and others are yet to break out. This is the best period of the year if you ask me. After a good period of accumulation, things are finally starting to move.
The best thing is that not all the alts are moving the same time, so we have the opportunity to ride the waves one after the other. It's not easy, but it's a lot of fun.
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