The Polkadot Network
Polkadot has been performing so well over the past week and is currently enjoying some sun in the Top 10! Polkadot is now seated in the number 7 spot after dethroning Litecoin, Cardano and BSV!
A few weeks ago I went into some detail regarding the Polkadot ecosystem and some of the Polkadot plays I was accumulating and Kusama was one of them! These are some of my fairly recent posts regarding the Polkadot Ecosystem.
Kusama, EDG and Akropolis have all been performing really well lately but Kusama is outshining everyone today! As the Crypto market slumps and alts begin to bleed, Polkadot projects are pumping and leading the way is Kusama.
On the 27th of July I introduced Kusama as one of my new hot picks for 2020 and beyond. At the time, it was only trading at $10 and is currently trading at $35 as I write this article.
EDG and Akropolis have also been performing really well and I expect stronger moves for both in the coming weeks as they have been consolidating a bit over the past weeks. Kusama is almost like a testnet for Polkadot and it is quite difficult to place a value on it but it seems like the market has decided it has significant value.
Kusama is now ranked 56 on Coingecko and has a market cap of $310 million, which is decent but by no means large. Currently up over 62% for the day and 177% over the past 30 days, KSM is definitely gaining strength.
I will be looking to buy more KSM during the consolidation after this pump. Getting in early on a good project before the bull market really takes off is probably the most powerful move to make money in Crypto.
Regardless of whether alts go down further from here, quality projects will pump hard in the bull market and now is the moment to survey and seize! As I am writing, KSM has now surged past 70% for the day!
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This is not investment advice, please do your own research.
