• Kusama has plummeted from the latest peaks.
  • $100 represents massive support.
  • The crypto market sees lucrative price actions.

Kusama (KSM/USD) dropped from $277 highs to $101 since this year started. While publishing this content, the KSM price stood at $123.

For now, Kusama traded over 80% lower from its ATH. Moreover, technical analysis shows the token in a bearish market.

Build to Enhance Innovation

Kusama is a platform of specialized blockchains offering top-notch scalability and interoperability for developers looking to push beyond limits. Kusama has a somehow similar codebase as Polkadot.

Moreover, it is an ideal network for startups targeting swift moves through the upgrade and governance process. Kusama allows developers to personalize their specific needs, create blockchain apps and connect them to Kusama.

The network boasts transparency, using the community to vote and control the platform’s evolution. That ensures the transparency market players need. Kusama continuously works on upgraded options and features, crucial elements in expanding its network.

Kusama has collaborated with many projects, and the platform recently introduced a framework to allow geographically concentrated groups to build, distribute and use their digital community coins.

Kusama team reported that besides allowing investors to control and validate proof-of-personhood, Encointer might enable a more democratic approach based on a vote per person when completing decision-making methods such as coin voting.

Anyone can join the platform and use it, but KSM token holders own the Kusama ecosystem. The altcoin saw its price skyrocketing since 2021 January, touching a record peak past $600 on May 18. For now, the token trades roughly 80% down from its ATH. However, the current price provides a lucrative entry-level for traders more vulnerable to risk.

KSM Stays in Bear Market

Technical analysis shows Kusama in a bearish market. However, the current KSM price provides the token at discounted prices. It might be time you purchase the coin if you are more vulnerable to risks. Nevertheless, be careful whenever trading any token due to high volatility with these tokens.

Meanwhile, the crypto market sees an impressive performance, welcoming March with leg-ups. Bitcoin rallied over 15% within the past 24Hr, changing hands at $44.5K. Maintaining such positive bias might push Kusama past $200 again.

Editorial credit: Ira Lichi / shutterstock.com