Key Takeaways

• KSM, the native token of the Kusama network, surged 13.5% Monday.
• 1.1 million KSM tokens locked up from the network’s first five parachain auctions have been returned to holders.
• Despite the unlock increasing the KSM token supply by approximately 12%, it appears demand has also swelled.

Despite more tokens entering circulation, the price of KSM has increased by over 13%.

Kusama Surges on Bullish Unlock

It appears that investors have taken the recent Kusama token unlock as an opportunity to buy more.

KSM, the native token of the Kusama network, jumped 13.5% Monday after 1.1 million tokens locked up from the network’s first five crowdloans were released back to participants. Kusama is currently trading for $83.11, one of only a handful of tokens to register gains today as the rest of the market fell.