CV Market Watch™: Lisk Breaks Out, Heads for $20
Lisk stalled around $10 and caused some disappointment, but now the wave of altcoins has lifted the asset above $17.
Lisk (LSK) was one of the assets that peaked recently, adding another 35% in the past 24 hours to a price of $17.15, and the price has doubled in the past seven days. Trading volumes are at an absolute record above $170 million in the past 24 hours.
Coins in the Spotlight:
LSK enjoys popularity on Bittrex and Poloniex, but Binance also boosts the price.
The Lisk project would rely on Java Script developers to provide apps on the blockchain, and will rely on the popularity of the blockchain. The Lisk community is also growing, with potential benefits to the market price:
Our Twitter just hit 100,000 followers! To celebrate the #Lisk community growing, we've decided to share some interesting stats about our journey so far. Check out the infographic on our subreddit and get involved: https://t.co/4eZ30SIehO #blockchain 🚀 pic.twitter.com/LvnzCTBV9t— Lisk (@LiskHQ) December 16, 2017
Curiously, the current price rise of LSK does not come with any dramatic news from the Berlin-based blockchain startup. The meet-up and rebranding shot LSK up to $10 before it fell down to $8 and caused disappointment. But for now, the Lisk project is just chugging along, while the LSK market price experiences a boom that has taken up many altcoins.
At the same time, the price of LSK has risen only slightly against Bitcoin, signaling a weaker interest from traders and just a nominal peak in the dollar price.
The Future of Lisk
There are many projections for the LSK market price going into triple-digit territory. The project is gaining prominence, but has yet to gather up enough developers. But with 2018 coming up with completed products for many crypto projects, LSK may enjoy a rise in prices.
The top 20 of cryptocurrencies by market capitalization are seeing a lot of competition, as projects are suddenly coming into the spotlight. The positioning of Lisk would allow for more visibility and more investment. In the shorter term, the very fast rise in prices may cause jitters and backtracking, but if the mood around cryptocurrencies remains positive in 2018, LSK may enjoy a higher price range.