The overall rise in the crypto market can often lead to gains in cryptocurrencies but more often than not there are certain fundamental factors that determine the price action.
One of the most important factors behind the price appreciation of a cryptocurrency is that of protocol upgrades and that has been the major reason behind the rise in the price of Kusama (KSM) in recent days. The project is meant for providing developers with a framework that is both scalable and interoperable.
Over the course of the past week, the KSM token has soared considerably primarily due to protocol upgrades. A look at the price action can give an idea about the sort of gains in this period. Last Monday, the KSM token had been trading at a low of $378 per token. However, the token soon rallied strongly following the rise in interest among investors and soared 55% to hit $591.55 per token on Friday.