This altcoin could explode in the next few months due to positive fundamentals, according to the KOL Coin Bureau
Popular analyst Coin Bureau names a hot altcoin that could soon see massive upside moves powered by key fundamental catalysts.
In a new video, Coin Bureau tells its one million YouTube subscribers that Polkadot’s cousin Kusama (KSM) could make big profits during the launch of Polkadot’s Parachain slot auctions.
Parachain slots are scarce pieces of the Polkadot network that allow other blockchains to interact with it. Polkadot aims to provide only 100 slots for crypto projects that want to use Parachain, and each slot is auctioned with KSM tokens.
Coin Bureau says some projects starting in the Kusama ecosystem are 100 times more likely to explode.
“The crazy thing about Parachain slot auctions is that they give you the option to pick the next x100 coin possible without having to spend a dime.”
With the launch of polkadot parachains based on Kusama, Coin Bureau also predicts an increase in KSM price.
“I suspect that most of the individuals and organizations planning to participate in the Kusama Parachain slot auctions have amassed KSM since last year. After all, it looks like it will take hundreds of millions of dollars in KSM to secure a Parachain slot. I think these early investors are smart enough to know that if they wait to buy until the parachain slot auctions begin, the surge in demand will drive KSM to a price they don’t want to pay.
Source: Messari / Mint Office
The analyst says that while much of the predictions may have been priced in behind the Parachain slot auctions, there are likely still some players out there who don’t need to take action just yet.
“This means that the demand generated by Parachain slot auctions on Kusama has been priced into KSM. However, something tells me that there are a lot of people who don’t pay attention to what Kusama did. Hi, even I didn’t know Tether would do it started USDT on Kusama ”.
Coin Bureau predicts that KSM will face a supply shortage at the start of the Parachain auctions and could trigger a new bull run.
“When the Kusama Parachain slot auctions start, I think that we will most likely see another big move up that will last for weeks, especially as some of these new tokens start trading. In addition, all KSMs included in these smart contracts for parachain slots are not immediately marketable. That means we could see a large amount of KSM being taken off the market for months. As you know, if you reduce the supply of something, but the amount in demand stays the same or increases, the price goes up.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Dailyhodl