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Kusama: Third-Batch for 24 Parachains Has Commenced

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Kusama auctions for the third batch of 24 parachains has commenced on Monday, October 25, after two days of delay.

Kusama’s official Twitter channel announced the news on Monday, October 25. In this third batch, 24 auctions will be held with a new auction beginning weekly after the previous auction ends, and the winner will be onboarded at once at the start of a lease period.

Kusama announced:

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“The next batch of 24 auctions has officially opened on yours truly. Each auction will last 7 days, with a new auction beginning weekly after the previous auction ends.”

As Crypto Economy reported, the third batch of Kusama parachain auctions was scheduled to commence on Saturday, October 23, 2021. But the schedule was changed due to some issues. The new schedule has also made some changes to the previously announced schedule.

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In the previous schedule announced the in motion 377, 48 continuous auctions were to be held. Motion 377 passed by the Kusama Council proposed that the next 48 Kusama parachain auctions would be conducted continuously on weekly basis for the next 48 weeks. The 12th auction was to start on Saturday, October 23rd, at a block height of 9,777,777.

However, on Friday, October 21, it was announced the Kusama Council had found some miscalculations on motion 377 and, therefore, it was canceled. The announcement said:

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“PSA: The @kusamanetwork Council found a miscalculation on motion 377 which would make auctions run for longer than what was originally planned on the proposal. Therefore, Council has canceled the schedule.”

The next motion 381 was failed to execute. So another motion 384 was proposed that was approved by the Kusama Council. This delayed the start of the third batch until Monday, October 25, at the block height of 9,806,873.

In the new schedule, 24 auctions will be held. Each will auction will last for a week, a new auction beginning weekly after the previous auction ends. Winning parachains will be connected to their slots at once at the start of a lease period. There will be 5 lease periods during the third batch.

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Since the lease 16 period has already started, the first 4 winning parachains will be onboarded at the start of lease period 17. In the next four periods, 5 parachains in each period will be connected to Kusama. This means after the first 4 four, the next five will be onboarded at the start of lease 18. This will go on as:

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Kusama

Kusama Parachain Auctions: DeFi Protocol Genshiro Wins the 15th Auction

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Kusama parachain auctions are running smoothly, and the team has announced the conclusion of the 15th auction with DeFi conglomerate Equilibrium’s sister network Genshiro as the winner.

The official Twitter account of Kusama made the announcement on Monday, November 22. With the conclusion of the 15th parachain auction, Genshiro will be onboarded as the 16th Kusama parachain at the start of lease period 17 on November 27.

The announcement reads:

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According to the data provided by auction tracker Polkadot.js, these more than 4.8K stakeholders locked 47,425.5262 KSM tokens in Genshiro crowdloan. The 16th has also begun on Monday in which 6 parachain projects are competing for the next parachain slot.

As Crypto Economy reported, these auctions are part of the third batch of parachain auctions, in which 24 auctions will be held on a weekly basis. Winning parachains will be connected to their slots at the beginning of the next lease period. Now the auctions for parachain slots 12 to 15 have ended, Picasso, Bit.Country, Quartz, and Genshiro will be onboarded at the beginning of lease 17 on November 27, for the period ending on November 7, 2022. The next 5 parachains will be connected at the start of lease 18.

Genshiro is a sister network of Polkadot-based DeFi conglomerate Equilibrium. The protocol is comprised of a money market and a cross-chain DEX and aims to be a cross-chain DeFi one-stop shop to allow users to lend, borrow, stake, swap, trade, and earn.

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On the other hand, parachain auctions for the main Polkadot chain have also begun. As reported, the first auction commenced on November 11 and ended on November 18 with Acala, the DeFi hub of Polkadot, reserving the first Polkadot parachain slot. In the auction, over 81K participants contributed more than $3.2 worth of DOT tokens to the Acala crowdloan.

The Polkadot and Kusama architecture will be composed of as many as 100 parachains that are connected to and secured by a central Relay Chain. Parachains are independent purpose-built blockchains connected to the Polkadot or Kusama Relay Chains via an open, permissionless auction. To win a place on Realy Chain, parachains must outbid each other in auctions to earn a lease, both for the initial launch and again for renewal once the lease period expires.

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Kusama price analysis: Bearish slope indicates downfall in price up to $418 low

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  • Price has declined up to $417.85.
  • Kusama price analysis shows bearish trend.
  • Support is still secured at $337.84.

The latest Kusama price analysis confirms that a bearish trend has been following for the past few days. The price has been devalued to a great extent, which has brought unfavorable consequences for the cryptocurrency. A drop in price was recorded in the last 24 hours as well, and the KSM/USD coin value has been lowered to $417.85. The bulls also made a failed attempt to regain their position, but the bearish trend proved overpowering.

KSM/USD 1-day price chart: Bears restrict price movement above $417.85

The one-day Kusama price analysis is showing a bearish trend for the day as the price has covered downward movement. The latest bearish attack has resulted in the price going below the $417 edge. This has cast quite a negative impact on the overall market value of KSM/USD. The price has been constantly declining since the past week, and today’s trend has been no different. The moving average (MA) in the one-day price chart is $452.44.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 1

The short-term trending line is also moving descendingly; a further indication of a downtrend. The upper and lower Bollinger band values have been altered due to the shift in trends as well, as now the upper value is $503 and the lower value is $338. The Relative Strength Index (RSI) score has moved down to 51 as well.

Kusama price analysis: Price takes bullish turn hinting at further recovery

The four hours Kusama price analysis is showing slightly positive results for the cryptocurrency. The price has increased in the last four hours and has returned to its former height i.e. $418.45. The bearish trend had been at its peak during the past few hours, but the last four hours have proved encouraging for the buyers. The moving average value is standing at $433 whereas the Bollinger bands average is at $442.3.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 2
KSM/USD 4-hours price chart. Source: TradingView

The SMA 50 curve is still traveling higher than the SMA 20 curve as the dominating trend has been bearish. The upper Bollinger band is now touching the $472.05 position whereas the lower Bollinger band is at $412.5. The improvement in price has increased the RSI score to 38.31.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 3
KSM/USD technical indicators chart. Source: TradingView

The overall indication regarding the price trends is towards the neutral side, as the number of indicators on the selling and buying sides are balancing each other out. We can see 10 indicators standing on the neutral position, while eight indicators each are present on the selling as well as buying position.

The moving averages indicator is displaying slightly encouraging results for the cryptocurrency. There is a buying signal with eight indicators at the buying level, six indicators at the selling level, and only one indicator at the neutral level. The Oscillators, on the other hand, are showing a negative trend as there are two indicators on selling position, nine indicators on neutral position, and zero indicators on buying position.

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Kusama price analysis conclusion

The one-day and four hours Kusama price analysis is confirming that a downtrend has been dominating the market since the past week. The same trend has continued for today as well, as the price has been devalued to $418. Although the four hours price chart is giving a positive hint, the overall market trends have been bearish.

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Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450

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  • The Kusama price analysis reveals the latest trend has been bearish.
  • Bears have drawn the KSM/USD price levels to $436.
  • Support for KSM is present at $418.

The Kusama price analysis shows that selling pressure has built from the bearish side. The market followed the bullish trend for the entire last week as the coin gained significant value during this time, and a correction was due for continuing further upside later on.

The Tides have turned today as the bears have halted further up move today, and the crypto pair has started a correction. However, support is present at $418 and may stop the price slippage below this point.

KSM/USD 1-day price chart: Kusama rejected at $450

The 1-day price chart for Kusama price analysis shows bears are defining the price curve today. The KSM/USD is correcting after the bullish recovery of yesterday. KSM/USD pair is trading hands at $436 at the time of writing. The past week overall proved successful for the crypto pair as it gained 17.25 percent value over this time, as the price elevated to the five-month high on 3rd November. But today, the trend has been different as the bears are defining the price function by dragging the price down. The moving average (MA) is standing at $416 below the price level.

Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450 1
KSM/USD 1-day price chart. Source: TradingView

The volatility for the given price chart of KSM/USD is on the increase as the Bollinger bands are expanding on to more and more area, with the Upper band at $459 and the lower band at $331, making an average at $395, representing support for the correcting price. The relative strength index (RSI) is also confirming the downtrend for today as it is on a steep downwards curve at index 62, indicating high selling activity in the market.

Kusama price analysis: Recent developments and further technical indications

The 4-hour price chart shows that bearish momentum has been gaining strength over the past few hours despite the price breakout being in the upwards direction today. No sign of bullish efforts has emerged as the last candlestick is red in color, indicating continuous bearish activity.

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Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450 2
KSM/USD 4-hours price chart. Source: TradingView

The Bollinger Bands on the 4-hour chart have been keeping their average at $442, which now indicates resistance for the KSM/USD pair, whilst the upper band is at $457, and the lower band is at the $427 mark, which represents support for the crypto pair. The RSI has fallen near the centerline of the neutral zone at index 51 and continues to move down with time.

As the overall environment is bullish for Kusama and the coin has been continuously marking higher highs since the altcoin season started, the technical indicators for Kusama price analysis are yet bullish, as around 15 technical indicators suggest buying of KSM assets, and only three indicators suggest selling off of KSM assets, however eighth technical indicators stand neutral and do not favor either buying or selling, out of a total of 26 technical indicators.

Kusama price analysis: Conclusion

The Kusama price analysis shows that the coin is correcting today and may continue to follow a downtrend for today as bears rule the market. The support present at $418 is strong enough to keep the crypto afloat above, we can assume safely for the Kusama to soon get some bullish help, and the price may not go below $430.

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