Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

This Red-Hot Crypto Could See Massive Upside Action, According to Coin Bureau

by Daily Hodl Staff
May 31, 2021
in Altcoins

Popular crypto analyst Coin Bureau says one red-hot altcoin could see giant upward action soon fueled by key fundamental catalysts.

In a new video, Coin Bureau tells his one million YouTube subscribers that Polkadot-cousin Kusama (KSM) could witness big gains amid 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 only have 100 slots available for crypto projects who wish to utilize the parachains, and each slot will be bid on using KSM tokens.

Coin Bureau says that some of the projects that launch on Kusama’s ecosystem are likely to explode by 100x.

“The crazy thing about parachain slot auctions is that they will give you a chance to pick up that next 100x coin or token without having to give up a single penny of your hard-earned cash.”

With the launch of Polkadot’s parachains being reliant on Kusama, Coin Bureau also anticipates a big price spike in KSM.

“I suspect that most individuals and institutions that are planning on participating in Kusama’s parachain slot auctions have been accumulating KSM since last year. After all, it looks like they’re going to need hundreds of millions of dollars in KSM to secure a parachain slot. I reckon these early investors are smart enough to know that if they waited to buy until the parachain slot auctions began, the sudden surge in demand would send KSM to prices they are unwilling to pay.”

The analyst says that while much of the anticipation behind the parachain slot auctions have probably been priced in, there are still likely a few players who haven’t gotten a piece of the action yet.

“What this means is that the demand that will be created by parachain slot auctions on Kusama has already been priced into KSM. However, something tells me that there are more than a few people who haven’t been paying attention to what Kusama’s been up to. Heck, even I didn’t know that Tether will be launching USDT on Kusama.”

Coin Bureau predicts that when the parachain auctions kick off, KSM could experience a supply shortage that may ignite a new bull run.

“When Kusama’s parachain slot auctions begin, I think it is extremely likely that we will see another massive move to the upside that will last for weeks, especially when some of those new tokens start trading. Moreover, all the KSM that is locked in those parachain slot smart contracts won’t be immediately sellable. This means that we could see a massive amount of KSM taken off the market for months. As you know, when you lower the supply of something but the demand stays the same or increases, the price will rise.” 

I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ DanieleGay

Submit a Press Release

Industry Announcements

  • DeFi Yield Protocol (DYP) Anticipates Metaverse Platform Launch With Listings on Coinbase, Huobi and MEXC
    August 17, 2022
  • Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release on the ReserveBlock RBX Network, Proceeds To Benefit the Boot Campaign
    August 16, 2022
  • Oraichain Introduces Accelerator Program for DApps Building on Its AI Layer One Ecosystem
    August 15, 2022
  • DAM Finance Receives Strategic Investment From Arrington Capital Moonbeam Growth Fund
    August 11, 2022
  • Metaverse, Web 3.0 Disruption and Blockchain Advancement To Be Discussed at MetaWeek in Dubai
    August 11, 2022
  • DeFiChain Community Brings Attractive Rewards for DFI ERC-20 Pairs on Uniswap
    August 8, 2022
  • Bware Labs Announces the Blast Incentivized Testnet, Code-Named Houston
    August 8, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,536.31
$23,536.31
1.14%
Ethereum
$1,854.43
$1,854.43
1.37%
Cardano
$0.542365
$0.542365
2.2%
XRP
$0.377987
$0.377987
0%
Dogecoin
$0.081046
$0.081046
3.57%

Spotlight

  • Here’s What’s Next for Bitcoin, Fantom and One Under-the-Radar Altcoin, According to Top Crypto Trader
    August 11, 2022
  • Four Low-Cap Altcoins Explode Nearly 90% or More in Just One Week As Crypto Markets Ignite
    August 15, 2022
  • Altcoin Built on Cosmos Quietly Rallies 327% This Month As Project Launches New Stablecoin
    August 17, 2022
  • Shark Tank Investor Mark Cuban Hit With Class Action Lawsuit for Promoting Voyager to NBA Fans
    August 12, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl