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Kusama Price Prediction 2022 and Beyond – Can KSM reach $500?

Saad B. Murtaza
Kusama price prediction 2022 and Beyond - Can KSM reach 500

Kusama is an experimental blockchain that has introduced itself as “Polkadot’s wild cousin.” It is intended to give developers a highly interoperable and scalable foundation. This Kusama price prediction will reveal the project insights and the possible price movement in the years to come.

The same Parity Technologies team that developed Polkadot also developed Kusama. One of the most popular interoperable blockchains, Polkadot, shares practically all of its code with Kusama. The founder of Kusama is Dr. Gavin Wood, a programmer and a well-known computer scientist who also co-founded Ethereum.

With more than a hundred workers worldwide, Parity Technologies has a large staff that includes some of the most accomplished blockchain engineers in the world. Grants from the Web3 Foundation, which was established to “nurture and steward technology and applications in the fields of decentralized web software protocols,” are also used to support Kusama.

Fast-moving projects can use a highly scalable, interoperable sharded network with Kusama deployment, including features not yet present on Polkadot. In order to achieve this, Kusama refers to itself as a “canary network.” Substrate, the foundation of Kusama, is a blockchain construction set created by Parity Technologies. 

Although many projects choose to continue with Kusama for their finished product, the platform is intended to serve as a testbed for developers wishing to innovate and install their own blockchain. It can be used as a preparation network before releasing on Polkadot. Early-stage startups most frequently use Kusama for experimentation. It has the benefit of low entry barriers for deploying parachains and fulfilling minimal bond needs for validators. 

Kusama (KSM) Fundamental Analysis

Since Kusama was primarily created for developers who wanted to start big, ambitious projects with a quick speed of development, it stands out among blockchain platforms. It is constructed using a multichain, heterogeneously sharded design and a nominated proof-of-stake (NPoS) consensus mechanism.

This consensus mechanism is an alternative to the energy-intensive proof-of-work (POW) technique used by numerous other blockchains. Kusama is supporting cross-chain message passing (XCMP) to allow communication with other parachains on the Kusama network. The technology additionally enables it to carry out quick on-chain upgrades without a fork.

Kusama has capabilities for on-chain governance, just like Polkadot. Anyone having Kusama (KSM) tokens or parachain tokens can vote on their individual governance proposals. The governance tokens could include purported upgrades, protocol modifications, and feature requests. This on-chain governance is both decentralized and permission-less.

With a total voting and enactment timeframe of approximately 15 days, this on-chain governance mechanism is roughly four times faster than that provided by Polkadot. This hence contributes to the quick development of projects based on Kusama.

The project helps other projects wishing to get started quickly by providing updates and enhancements. They eliminate the need to fork the project, ensuring the greatest possible level of community coherence.

The consensus approach called nominated proof-of-stake (NPoS) is used to build Kusama. In this system, nodes are chosen to take part in the transaction validation process by a network of nominators (KSM stakeholders). If their nominee is chosen during the following rotation, these proposers will get a portion of the inflation prize. Validators who engage in dishonest behavior or fail to meet performance standards are vulnerable to the reduction of their stake.

In addition, Kusama resolves cross-chain transactions using a straightforward queuing system based on Merkle trees. Relay chain validators are in charge of transferring transactions from one parachain’s output queue to the target parachain’s input queue using a secure, trustless method that makes use of the same validators on each chain.

How does Kusama work?

Polkadot’s sister-chain Kusama imitates several of the distinctive design characteristics of the network. To handle network activity and process transactions, Kusama employs two different types of blockchains. The Relay Chain is the primary network where validators are staked. The Relay Chain, which only functions to coordinate the system as a whole, has minimal functionality. Additionally, there are user-generated networks known as Parachains, and depending on the project using each one, they can all have various designs, features, and use cases.

Kusama has the edge over other new dApps and initiatives for the Polkadot ecosystem because of its special position as a canary network for Polkadot. Before stabilizing and modifying their software for the Polkadot network, several dApps will launch on Kusama.

Additionally, Kusama makes use of Parachains, distinct layer-1 blockchains that let users participate in token models and incentives that aren’t often offered on the Kusama Network. Projects must win a spot in the Parachain Auctions in order to use Parachains. Not only are parachain slots important, but they also need KSM to be locked for the term of the lease. In order to extend the lease, participants who win a Parachain slot must triumph in additional auctions, ensuring that projects require a constant supply of KSM.

The Polkadot UI, the Polka Wallet, or the Polka JS staking app are the three options available in Kusama for creating a wallet for staking KSM. Users must Bond their KSM utilizing the staking feature of their app after creating a wallet; remember to leave some KSM for gas.

When assets are bonded, they are permanently bound onto the network. Users can choose up to 16 different validators to transmit their assets to after the assets have been bonded. Any of the user’s chosen validators who act inappropriately will be punished or sliced and lose a tiny portion of their wealth.

Kusama Tokenomics

KSM coin can be used to transmit messages across parachains, pay fees for governance referenda that manage protocol updates and patches, and vote on governance referenda. It is utilized for network validation and validator nomination.

Nominators can stake their KSM to validators to receive a share of the rewards while also helping to secure the network and earn rewards from inflation. KSM can also be used for bonding in order to support brand-new parachains or parathreads. 

Kusama has a total quantity of 10 million tokens and a circulating supply of 8.47 million as of November 2020. This maximum supply is not fixed, in contrast to several other blockchains. Instead, it grows by 10% annually or the rate of inflation.

The distribution of freshly created KSM tokens (because of inflation) is affected by the percentage of KSM that are staked. In contrast, if it is above or below 50%, some of the inflation incentives will go to the Kusama Treasury. If exactly half of all KSM is staked, then Kusama validators earn 100% of newly issued tokens. 

Kusama was first distributed as a free airdrop to individuals who bought Polkadot (DOT) tokens during the token sale. Those without DOT may receive KSM by utilizing a frictional faucet, which has since been discontinued. These were distributed at a 1:1 rate. Kusama has not undergone redenomination to enhance its supply in circulation, unlike Polkadot.

Kusama Future Plans

Before releasing on the Polkadot blockchain, developers could test their concepts on the Kusama network, which shares many characteristics with Polkadot. The success of this product is attributable to the minimal requirements for the deployment of parachains and validators, as well as the ability to carry out on-chain modifications without requiring a fork

Kusama eventually rose to its all-time high of over $623.75 after seeing gains of more than 50%. These highs are due to fantastic developments that are expected to occur on the network. Most crucially, the council has approved the proposed update, which will implement parachain auctions and crowd loans, and it is now up for a public vote. The news was made on Twitter and will result in up to a 50x reduction in fees.

Users will be able to create hybrid smart contracts on the Kusama and Polkadot networks thanks to Chainlink’s decision to support ChainSafe Systems for the expansion of the Chainlink Oracle Pallet. In terms of enhancing blockchain interoperability amongst networks, this is a positive move.

Kusama (KSM) Price Analysis

The Kusama price today is $61.32, with a trading volume of about $46.7 million. The current CoinMarketCap currently ranks it as number 76, with a market cap of more than $519 million. It has a circulating supply of 8.5 million KSM coins. It can have a promising future in terms of price.

kusama
Kusama (KSM)
Rank: 101
$ 48.11
Price (BTC)
Ƀ0.00224672
Marketcap
$ 430.01 M
Volume
$ 31.27 M
24h Change
13.38%
Total Supply
10.00 M KSM

Kusama Price Prediction – Crypto Academy

We have predicted the future price of Kusama on the basis of its fundamentals, technology, and future plans.

Kusama Price Prediction 2022

Our deep technical analysis of the historical price data of KSM for 2022 says that the price of Kusama can reach a minimum level of $55. The KSM price can hit a maximum level of $90 due to its support and grants from the Web3 Foundation, with an average trading price of $73 throughout the year 2022. 

Kusama Price Prediction 2023

We predict the minimum price of Kusama to reach the level of $70 in 2023. The Kusama price can hit a maximum level of $110 due to several projects wishing to continue to get final products with Kusama, with an average price of $90 in 2023. 

Kusama Price Prediction 2024

Our forecast through the technical analysis for 2024 indicates that the price of Kusama can reach a minimum level of $94. The KSM price can be at a maximum level of $119 due to the combination of a multichain, heterogeneously sharded design, and proof-of-stake (NPoS) consensus mechanism. The average trading price can be $107 throughout the year. 

Kusama Price Prediction 2025

We predict the price of a Kusama to reach the minimum level of $110 with an average price of $128 throughout 2025. The KSM price can be at a maximum level of $150 for performing quick on-chain upgrades without a fork in 2025. 

Kusama Price Prediction 2026

We predict the Kusama price to reach the minimum level of $130 in 2026. Our findings for the KSM price indicate a maximum level of $180 this year for decentralized and permission-less on-chain governance, with the average price of $155 forecasted for 2026. 

Kusama Price Prediction 2027

Our deep technical analysis of KSM indicates the minimum price of $155 in 2027. We predict the price of Kusama to be around a maximum level of $220 due to voting for their individual governance proposals, including protocol modifications and feature requests. The Kusama price value can go through an average trading value of $170. 

Kusama Price Prediction 2028

We predict the minimum price of Kusama to reach a value of $175 in 2028. The Kusama price can hit the maximum level of $240 by resolving cross-chain transactions with a Merkle tree-based straightforward queuing system, with an average trading level of $210 throughout 2028. 

Kusama Price Prediction 2029

We forecast the price of KSM through technical analysis for 2029. The price of Kusama can reach a minimum value of $220. The KSM price can be at a maximum value of $300 by handling network activity and process transactions, with an average value of $260. 

Kusama Price Prediction 2030

The price of Kusama is anticipated to reach a minimum level of $280 in 2030. The Kusama price can reach a maximum level of $400 for new dApps and initiatives, with an average trading price of $340 throughout 2030.

Kusama-Price-Prediction 2022-2030 Price Chart

Kusama Price Prediction – Market Overview

Most crypto-related websites and platforms have given a positive outlook on the future prices of Kusama for upcoming years.

Priceprediction.net

According to PricePrediction.net, by the end of 2022, the KSM price is anticipated to increase to a maximum of $102.79. By the end of the year, the average price of Kusama (KSM) may reach $90.85. They calculate through the five-year plan that the coin can easily surpass the $429.11 threshold.

Kusama has a remarkable potential to go to new heights in terms of pricing. Specific specialists and business analysts predict that Kusama will reach its greatest price of $3,308.96 by the year 2030.

Tech News Leader

Tech News Leader analysts express that in a year, Kusama might rise as high as $139.94. In five years, Kusama can be worth $486.90. The high chances exist that the price of Kusama can rise to $2,945.77 in ten years is much higher. Within the next 8 to 10 years, the value of a Kusama could be equal to the lowest price of $2,843.40 and the maximum price of $3,500.44.

Coin Codex

According to Coin Code forecast, KSM price would be between $79.93 and $138.52, which indicates that in the favorable case scenario, the price of Kusama can increase to $104.67 percent by 2024. In the best conditions, they predict the price of Kusama to increase by 354.02 percent by 2025, with the estimated KSM price falling between $102.32 and $307.27. In the best scenario, the price of Kusama is anticipated to increase by 907.15 percent in 2026, with worth between $130.98 and $681.63 per KSM.

Wallet Investor

Wallet Investor analysts believe that KSM price can be devalued in the future, according to Wallet Investor. Its price at the end of 2022 can be $9.17, and at the end of 2023 can be $5.25. The maximum prices at the end of 2024, 2025, and 2026 can be $5.54, $7.38, and $3.11. Five years from now, the maximum price can be $3.05.

Digital Coin Price

Per Digital Coin Price prediction, the lowest price of Kusama in the future can be up to $95.26, and the highest price of Kusama can be $372.50 in the future. The price of a Kusama (KSM) can be approximately $95.26 to $110.5 in a year’s time, with no significant increase from the current KSM price.

The price of Kusama after three years can be $120.23, and the price of Kusama after four years can be $131.48. The price of Kusama after five, six, and seven years can be $173.95, $240.34, and $289.90. 

How to Buy Kusama

Kusama is one of the several cryptocurrencies that can only be traded for another coin on a decentralized exchange and cannot be bought with fiat money. You can first purchase Ethereum (ETH) and then use it to purchase Kusama. To support this transaction, you will need a self-managed wallet and an exchange account.

Step 1: Login/Create an Account

Open the Coinbase app on your Android or iOS device and log in first. Please review our Privacy Notice and User Agreement. You must input the information to establish an account, your name, a working email address, a secure password that is simple to remember, and your including country. They also demand location documentation.

To register your email address, you will receive a confirmation email from [email protected] To go back to Coinbase, click the link. Now, you can perform two-step verification using the connected phone number and your smartphone. Your account will be more secure when this verifies your phone number.

Step 2: Select a Payment Method

Choose a payment option to add fiat money to your account (such as USD). You can utilize any of the methods that Coinbase offers in your region. The quickest and most expensive way to move things along is typically to use a credit or debit card.

Step 3: Create a Wallet

The next step for obtaining Kusama is a self-custody wallet, such as Coinbase Wallet. Both browser extensions and mobile apps can use it. Open your Coinbase wallet by downloading the app or doing so in your browser. You must select a distinctive username that other users of the Coinbase wallet will use to send the cryptocurrency.

To access your account, you also require it. Furthermore, it receives 12 random word recovery phrases as the key to open the encryption. It must be kept a secret, but it must also be recorded or saved. Even Coinbase itself cannot assist you in accessing your wallet if you lose your recovery phrase, which Coinbase does not request.

Step 4: Buy ETH

The following step is to use your coinbase account to buy Ethereum (ETH). Enter the amount of ETH that you want to buy with fiat money. Create a payment schedule for transaction charges as well, as these can vary depending on the demand on the network, the type of the transaction, and the mechanism you employ.

Step 5: Transfer ETH to Coinbase Wallet

Sending ETH to your Coinbase Wallet is the next process. To connect your Coinbase wallet to Coinbase, go to its settings and tap the connect option. Follow the directions exactly to complete this process. To move your cryptocurrency from your Coinbase account to Coinbase Wallet, select “Buy or Move” from the Coinbase Wallet settings on your mobile device.

Step 6: Buy KSM

You are now ready to buy KSM. Utilizing a mobile device and the Coinbase wallet software, you may achieve this. Click the “Trade” button to swap ETH for an Ethereum-based token supported by Coinbase (also known as “ERC-20 tokens”). Next, select the Kusama token by clicking the “choose coin” button. When entering the amount of ETH you wish to exchange for Kusama, be sure to account for transaction costs. To confirm the purchase and finish the transaction, simply follow the simple instructions that appear on the screen.

Users must click “Convert” after opening the website while using the Coinbase Wallet plugin. After finding Kusama, enter the desired quantity of ETH in the search window, leaving the remaining amount for transaction costs. According to the on-screen prompts, confirm the purchase.

Frequently Asked Questions (FAQs)

Is KSM a Good Investment?

Yes, KSM is a good investment for its ambitions in projects regarding the beginning of big projects with a high development speed. These make it special from other blockchain platforms.

Can KSM Reach $500?

KSM can reach $500 in the next ten years for delivering a highly interoperable and scalable foundation to the developers.

Where to Buy KSM?

You can buy Kusama at the current rate on the top cryptocurrency exchange among Binance, OKX, BingX, MEXC, and Bybit.

Takeaways

  • Kusama is an experimental blockchain that has introduced itself as “Polkadot’s wild cousin.” 
  • It is intended to give developers a highly interoperable and scalable foundation. 
  • Fast-moving projects can use a highly scalable, interoperable sharded network with Kusama deployment, including features not yet present on Polkadot. 
  • Substrate, the foundation of Kusama, is a blockchain construction set created by Parity Technologies. 
  • Kusama is most frequently used by early-stage startups for experimentation. 
  • It has the benefit of low entry barriers for deploying parachains and fulfilling minimal bond needs for validators. 
  • KSM is a good investment for its ambitions in big advanced projects.
  • The KSM price can hit a maximum level of $90 in 2022.
  • The Kusama price can hit a maximum level of $120 in 2023. 
  • We predict the price of Kusama to be around a maximum level of $220 in 2027.
  • The Kusama price can reach a maximum level of $400 in 2030.
  • KSM can reach $500 in the next ten years for delivering a highly interoperable and scalable foundation to the developers.
  • You can buy Kusama at the current rate on the top cryptocurrency exchange among Binance, OKX, BingX, MEXC, and Bybit.

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