What Kusama is
Kusama (KSM) is a proof-of-stake Layer-1 blockchain, currently ranked 251st by market capitalization among the assets we track. Kusama is its own settlement layer. Smart contracts run on top of it, fees are paid in KSM, and the security model rests on validators bonding the token rather than burning energy to mine it.
Kusama (KSM) is a scalable multichain network that serves as a testing ground for projects intending to launch on the Polkadot network, offering developers a space to experiment and innovate. It features adaptable governance and a unique architecture aimed at facilitating rapid deployment and development.
How consensus and the token economy connect
Staking ties the token's value to network security: more KSM bonded means a costlier attack, and stakers are paid for taking that role. Unstaking queues and slashing parameters shape how liquid that capital really is.
Kusama reaches agreement on transaction order through Proof of Stake.
Background & fundamentals
Kusama first went live in 2019, giving it roughly 7 years of on-chain price history to draw on. Governance is structured as Decentralized, so no single company controls issuance or protocol changes. Its codebase is open-source, meaning the implementation can be audited rather than taken on trust.
CoinPaprika classifies the project's development status as "Working product". In sector terms it is most often filed under Made in USA.
Where Kusama sits in the market
At $2.97, Kusama carries a market capitalization of $50.80M. Around $4.19M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 8.24% of the float — elevated, often a sign of narrative-driven trading.
Kusama carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. KSM remains -100% beneath its all-time high of $621.75, the kind of gap that historically takes a full cycle or a fresh catalyst to close.
What the price history shows
Across timeframes, KSM shows 24-hour -2.82%, 7-day -9.52%, 30-day -7.66%, 1-year -72.84%. Within its stored 365-day daily history, KSM mounted a low-to-high run of roughly 49% at its strongest stretch.
Volatility profile
Recent action puts Kusama in the Moderate-volatility band — it shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual. Over the last 30 days the move totals -7.66%, a useful input for stop placement and position sizing.
How to evaluate Kusama
The honest checklist for KSM is short:
- Real usage — active addresses, fees paid, and total value locked — does on-chain demand justify the valuation?
- Staking economics — the share of KSM staked, the yield, and unlock/queue dynamics that govern liquid supply.
- Ecosystem depth — how many applications and how much liquidity have chosen Kusama over competing Layer-1s.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
