While Bitcoin and other crypto currencies fell by up to 15%, an altcoin listed in Huobi rose by 60%
The market is experiencing a big drop on Tuesday (25) that hits all the crypto currencies, including the price of Bitcoin. However, the Kusama Altcoin (KSM) had a different trajectory as it triggered a significant wave of appreciation.
Thus, the Altcoin (KSM) faced an appreciation wave as the crypt coin market collapsed. In total, the price of Kusama has risen more than 60% in the last 24 hours.
In contrast, during the same period the price of Bitcoin plummeted 3.42%, in what appears to be a market correction. However, there are crypto currencies that have fallen more than 15% recently, while KSM has appreciated by almost 70%.
Altcoin up 60% in one day
The crypto market is undergoing a correction that has lowered the price of some projects. In addition to Bitcoin, other digital assets have shown losses in the last few hours.
With the recent devaluation of the market in general, the price of Bitcoin is trading around $11,400 at this Tuesday’s close (25). On the other hand, Ethereum (ETH) had a 5.31% drop in the same period.
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Unlike the main cryptosystems, the Altcoin Kusama faced a wave of appreciation that almost reached a 70% increase throughout the day. This growth currently stands at 60%, according to data from CoinMarketCap.
„Kusama is an initial, unaudited 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 governance, deployment, naming and validation functionality of Polkadot in a real environment“.