
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
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