Closing Day Has Arrived for the Network, and This Altcoin Has Risen 23 Percent: What Will Happen to the Token?
Today is the official closing day for Lisk Chain, and the LSK price has attracted attention with its strong rise. According to CoinGecko data, the token is trading at approximately $0.2475, with a daily gain of 23 percent.
LSK’s trading volume in the last 24 hours reached approximately $88.5 million. The weekly increase was recorded at 34.8%. The intraday price range was between $0.1993 and $0.2516.
Lisk’s previously released official statement indicated that Lisk Chain would be shutting down today. However, the network shutdown does not mean the complete end of the LSK token.
According to the project, LSKs held on Ethereum or exchanges continue with the same token and contract. In the new business model, LSK is planned to be used as a loyalty token for a financial platform aimed at companies.
The risky part concerns assets left directly on Lisk Chain. Official guidelines require that LSK, ETH, stablecoins, and other assets on this network be withdrawn before the closing.
The team previously explained that the normal bridging process takes approximately eight days, while the total time for staked LSK can be at least 11 days. Therefore, initiating a new transaction on the closing day does not guarantee that the transfer will be completed on time.
This story was originally published by Bitcoinsistemi. Read the original article.
