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KSM to USDT Converter
1 KSM = 3.7799 USDT · updated 06:23 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.Kusama Markets
Kusama Historical Data
About Kusama (KSM)
Kusama (KSM) is a permissionless blockchain network designed as Polkadot's canary network. The Polkadot Wiki describes it as a live environment where new code, governance systems and parachain technology can be tried under real economic conditions. KSM is the native token and is used for transaction fees, staking, governance and coretime. FMchart displays a composite USD market price from several exchanges.
Kusama as a canary network
Kusama is not a conventional testnet. It has its own token, economic activity and decentralized governance. The network was created to provide a faster-moving environment for changes that may later be used elsewhere in the Polkadot ecosystem. That role means upgrades and experiments can appear on Kusama before similar technology reaches Polkadot.
KSM and network utility
KSM is used for several native functions. The official wiki lists transaction fees, staking, governance and coretime purchases among its uses. Coretime provides access to relay-chain computation for parachains. KSM also supports deposits used by on-chain governance and other network operations, so its utility extends beyond simple transfers.
Staking and Nominated Proof of Stake
Kusama uses Nominated Proof of Stake. Validators produce blocks and maintain the network, while nominators back validators with bonded KSM. The current chain-state documentation lists nomination pools as another route for participating in staking. Staking parameters can change through network governance, so minimums and reward conditions should be checked against current chain state.
Inflation and OpenGov
The official Kusama inflation model describes 10% annual inflation under the published model, with distribution affected by the amount of KSM staked and the ideal staking rate. The same documentation notes that the inflation rate can be changed through on-chain governance. KSM holders also participate in OpenGov, where they can vote, delegate voting power and place deposits for referenda.
What can weigh on KSM
KSM's role as an experimental network creates both utility and uncertainty. Protocol changes can arrive faster than on a more conservative network, and governance can alter economic parameters. Token inflation also affects supply over time. The network competes for developers, parachains and users with Polkadot and other blockchain ecosystems. FMchart's composite history reflects market data rather than the full technical history of Kusama.
Kusama is built to move quickly. It is also a real network with real economic activity. KSM pays for core network functions. Holders can vote through OpenGov. They can also delegate voting power. Staking helps secure the relay chain. Inflation creates new KSM under the network model. These roles explain why KSM is closely tied to both network use and governance.
Last reviewed: Oct 8, 2026
Kusama (KSM) FAQ
What is Kusama (KSM)?
Kusama is Polkadot's canary network, a live blockchain used for testing and deploying new network technology under real economic conditions. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
What is KSM used for?
KSM is used for transaction fees, staking, governance, coretime purchases and other native functions on Kusama. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance. The exact staking rules can change with on-chain updates.
Is Kusama a testnet?
No. Kusama has its own token, economic value and decentralized governance, so it operates as a live network rather than a testnet. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
What is the price of KSM today?
KSM is priced at $3.7736 on FMchart's composite, with $353.4K traded over 24 hours across the exchanges in FMchart's composite. Individual venues can show different market quotes. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
How many KSM tokens are in circulation?
KSM is an inflationary token, and 19,049,264 KSM are shown as circulating in current market data. There is no fixed maximum supply under the published inflation model. Market capitalization is $71.89M, ranked 339. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
What is Kusama's all-time high?
Kusama's all-time high is $621.71, recorded on May 17, 2021. Price Statistics also reports the all-time low and distance from the current level. Historical records depend on the exchanges included by each data provider, so values can differ between services. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
How has KSM performed since FMchart started tracking it?
In FMchart's composite price history (since June 2022), November 2024 (+148.8%) was KSM's strongest month and April 2024 (-40.8%) its weakest. Monthly Returns (USD) shows the monthly series, while Annual Price (USD) Change gives calendar-year changes. The composite may not span the entire history of Kusama.
How does KSM staking work?
KSM can be bonded to validators through direct nomination or nomination pools, helping secure the Kusama relay chain while eligible participants receive staking rewards. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
What is Kusama inflation?
The published Kusama inflation model sets annual inflation at 10%, with its distribution between stakers and the treasury affected by the staking rate. That gives KSM several uses beyond simple transfers. Network rules and economic settings can change through Kusama’s on-chain governance.
Is KSM a good investment?
FMchart does not rate KSM as an investment. Its value depends on Kusama activity, governance, staking economics, developer adoption and competition within the Polkadot ecosystem. KSM also has ongoing inflation under the published model. This page is intended to explain the network and market data, not to recommend buying or selling the token.