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OKEx lists Lisk [LSK], price goes up by 8% in a few hours

Anirudh VK



OKEx lists Lisk [LSK], price goes up by 8% in a few hours
Source: Unsplash

Prominent exchange OKEx added support for the Lisk [LSK] token earlier today. The Lisk token is the token used as a currency on the Lisk blockchain.

The Lisk project also enables developers to build blockchain applications using JavaScript. It offers developers custom sidechains to build decentralized apps on the Lisk mainchain. The mainchain will later become the future hub for all the sidechains. The Lisk platform is not live as of yet.

The developers quote the reason for using JavaScript as it is the language of the Internet, saying it is the most commonly used programming language in the world. It uses the Delegated Proof of Stake [DPoS] protocol for consensus, removing it from the risk of 51% attacks.

The token has a maximum circulating supply of 106 million Lisk tokens. The block reward for blockchain will be 5 for the first year, 4 tokens for the second year, 3 Lisk for the third year, 2 for the fourth year, and will finally reduce to 1 token, resulting in an inflation rate of about 1% after the last decrease.

The price of the Lisk token was trading around the $8 mark over the week, with a spike seen on May 29th. The price quickly rose from $8.08 to $8.62 within a few hours. While it did see a small drop on May 31st from $8.69 to $8.35, it gained back its losses over the next day.

There is a potential for a rally forming as the price shot up from $8.63 to a high of $9.33 earlier today. It broke the $9 resistance with abandon, as it demonstrated a growth rate of 8.1% in just a few hours!

Twitter user Jurgen Houtepen said:

“nice job. can you pls add @ZebidataIndia dear Okex team?”

Lois Cabali said:

“Still waiting for credits. When r u gonna list it?”

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.



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