Kusama (KSM) price hits new highs as parachain auctions begin to take shape

Major protocol upgrades are one of the most potent sources of price movement for cryptocurrency projects as community members and investors get excited about new features and traders rush in to “buy the rumor and sell the news.”

One protocol that has seen its price rise to new heights this week, despite the overall bearish conditions affecting the market, is Kusama (KSM), an experimental blockchain platform and a sister chain to Polkadot’s platform. Kusama is designed to provide an interoperable and scalable framework for developers.

KSM/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. KSM price. Source: Cointelegraph Markets Pro