Why Polkadot and Kusama Tokens Soared on Tuesday
Polkadot (CRYPTO: DOT) tokens gained 7.3% at the end of the market day on Tuesday, having posted 24-hour gains as high as 11.2% earlier in the day. The token, which plays several important roles in the cross-blockchain communications network also named Polkadot, is preparing to launch its first so-called parachain auctions next week. Cryptocurrency traders are bidding up the price of the Polkadot token as the auction date approaches without any sign of trouble with the technology or the auction process.
At the same time, the Kusama (CRYPTO: KSM) token rose more than 15% on Tuesday. Kusama is an experimental version of the Polkadot technology, playing an active role in the development of parachains and future Polkadot features.
Polkadot is still a work in progress, albeit at an advanced stage with a real-world market cap of $51.6 billion today. Kusama's market value is a much lower $3.7 billion, which makes sense for a testing version of a product with business-grade ambitions.
Source Fool.com
