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Lisk, which jumped 65% after listing on bitFlyer on Wednesday, posted a 20% boost yesterday after Huobi.pro also listed the altcoin. Lisk has clearly benefited after securing two exchange listings in one week.
While Wednesday, Jan. 31, was brutal for the cryptocurrency markets, as bitcoin’s price fell below $10,000 and the cryptocurrency market cap entered sub-$500 million territory for the first time since Jan. 17, Lisk soared. Shortly before 6:00 UTC Wednesday, the Lisk price was trading at roughly $21.50 on Bittrex. Within the span of 25 minutes, the Lisk price was valued at $36.27, which represented an increase of more than 65%.
The price soon dropped back below $30, but it continued to trade well above its previous level.
Huobi Listing Gives Second Lift
Yesterday, Feb. 2, Lisk announced its listing on the Huobi.pro exchange, allowing LSK token holders to trade against BTC and ETH. Shortly after the Huobi listing was announced, the price shot back up from $16.08 to $23.42, according to coinmarketcap.com.
“Today’s announcement caps a very successful week for Lisk, following Wednesday’s debut of our LSK token on the bitFlyer exchange,” said Max Kordek, Lisk founder and CEO, in a prepared statement. “The addition of LSK to the Huobi.pro exchange elevates the status of our platform as we approach our relaunch event on Feb. 20 in Berlin, and strengthens our ambition to be the enablers of innovation, making blockchain technology more accessible to everyone.”
“This move underscores the strong confidence and belief in our platform and we are excited to extend our reach to millions of global traders through the Huobi.pro exchange,” Kordek added. “We look forward to growing our community, allowing developers and entrepreneurs to tap into the tremendous power of blockchain technology, ushering in a new era of innovation.”
The listing on bitFlyer was notable — and unexpected — since the exchange previously only supported five altcoins: Ethereum, Ethereum Classic, Bitcoin Cash, Litecoin, and Monacoin.
Also read: Lisk price spikes 65% on bitFlyer listing
Lisk’s Long-Term Progress
Lisk’s price first emerged from the low single-digit range in August and has been progressing into the high teens and $20-plus range.
Lisk is a blockchain application platform that stores decentralized applications in sidechains, as opposed to a main blockchain like Ethereum, allowing users to develop applications from scratch using the mainstream language of JavaScript.
The decentralized platform allows for the deployment, distribution, and monetization of sidechains on the Lisk blockchain. The Lisk network is operated using a delegated Proof-of-Stake consensus model, secured by democratically-elected delegates.
Featured image from Shutterstock.
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