Markets· ★★· bearish·

LSK plunges 56% after 600% weekend rally

  • LSK fell to about $0.45, losing nearly 56% in 24 hours and about 80% from its peak
  • Over the weekend the coin rose from $0.14 to nearly $2, a gain of more than 600%
  • The burn of 100 million LSK has begun: supply will fall from 400 million to 300 million
  • Lisk's own network will halt on October 31, and assets must be moved to Ethereum
Why it matters: The sharp pullback shows the rally was driven by a short squeeze and speculation rather than fundamentals; holders need to migrate assets before October 31.
Source: Crypto Insiders