The market saw a sharp decline on Tuesday (25) affecting all cryptocurrencies including the price of bitcoin. However, The altcoin Kusama (KSM) took a different trajectory and sparked a significant wave of appreciation.
The Altcoin (KSM) saw a surge in appreciation when the cryptocurrency market collapsed. Total, Kusama’s price has increased more than 60% in the past 24 hours.
Vice versa, During the same period, the price of Bitcoin fell 3.42%, which appears to be a market correction. However, There are cryptocurrencies that have fallen more than 15% lately while KSM has appreciated by almost 70%.
Altcoin rose 60% in one day
The cryptocurrency market is currently being corrected, which has lowered the price of some projects. In addition to Bitcoin, other digital assets have seen losses in the past few hours.
With the recent devaluation of the market in general, the price of Bitcoin is trading around $ 11,400 by the end of this Tuesday (25). On the flip side, Ethereum (ETH) saw a 5.31% decline over the same period.
In contrast to the main cryptocurrencies The altcoin Kusama faced a surge in appreciation that rose nearly 70% over the course of the day. According to CoinMarketCap, that growth is currently 60%.
“Kusama is an early, untested, and unrefined version of Polkadot. Kusama is intended to serve as a testing ground, allowing teams and developers to build and deploy a parachute or experiment with the functionality of governing, deploying, naming and validating polkadot in a real-life polkadot Surroundings “.
The graph shows that the altcoin price has increased by 60% (Reproduction / CoinMarketCap)
The cryptocurrency is listed on Huobi
On the Huobi and Kucoin list, The altcoin, which is up 60%, faces an opposite path to the other falling cryptocurrencies.
With a 60% increase, KSM’s performance was seen as the best growth of the day to date relative to the ranking of the hundred largest cryptocurrencies by capitalization.
Second, Reserve Rights (RSR) has received a rating of around 22% in the market over the past 24 hours. Eventually, Aragon (ANT) appears in the top three best on the market while the price of Bitcoin continues to drop.
While Kusama, Reserve Rights (RSR) and Aragon are the best performers of the day, the altcoins Ampleforth (AMPL), HedgeTrade (HEDG) and Basic Attention Token (BAT) recorded the worst devaluations of the day.
AMPL lost 15.23% as the market fell, followed by HEDG which recently fell 12.23%. BVT also lost 10.85% over the same period.
On the other hand, Kusama, which was founded on December 12, 2019 in the last 24 hours, had a trading volume of about $ 105 million. At $ 34.51, the KSM listing represents a return of 1,916% since its inception.
Kusama started at around USD 1.80 and was already trading at USD 0.914346 at the time the cryptocurrency was devalued. However, on Tuesday (25), the altcoin broke the price record with a value of $ 38.56 in the market.