In the last 30 days Kusama (KSM) is, once again, nearly +100%. But this is not big news, since it's almost 10x in the last 3 months!
The important thing here it's that KSM is currently overperforming Bitcoin.
The yellow line indicates that in last 3 months KSM passed from being worth 0.002 BTC to 0.008 currently, while also increasing its USD value from 52$ to current price of 472$.
Last 30 days chart show an even more evident signal: KSM price is increasing versus BTC (yellow line) more than it's increasing versus USD (green line).
If we want to understand why this is happening, we probably have to make an on-chain analysis through Polkascan.
The first question we could ask ourselves is: how many people are using the Kusama Network today?
Well, this chart answers that question:
There are over 42 thousands active accounts today, and the trend seems very bullish.
Another way to measure the network usage is looking at the number of the transactions on the network:
Leaving out the initial period in which there were few active users and lot of transactions (which doesn't make a lot of sense), and a few spikes along the way, this trend seems to go upwards too.
This increasing usage of the network could cause, of course, slower processing time. But the scalability of the network can be measured through this other chart:
Once again, let's exclude pre-february 2020 period.
The average block time is pretty much constant at 6!
If you want to know more about Kusama and how it works, you can read my previous post here.
Thanks for reading, let me know what do you think about it in the comments and feel free to share your experiences!
