Lisk Price Prediction 2024: Will Move to Ethereum Boost LSK Price?

Key Takeaways

• A Lisk perpetual contract on Binance generated interest in the LSK coin.
• LSK has been around for nearly eight years. 
• Can LSK rise?
• One Lisk price prediction says LSK can trade at $3.15 next year. 

Lisk generated some interest from investors in January 2024 after a perpetual contract listing  on Binance Futures. The veteran blockchain, which supports decentralized applications (DApps) and its LSK coin enjoyed a small revival in late 2023 as the market shot up due to anticipation about spot Bitcoin exchange-traded funds (ETFs).

Lisk is embarking on a significant transition into the Ethereum ecosystem, adopting a Layer 2 solution.

This new iteration of the Lisk network will leverage OP Stack, an open-source framework by Optimism designed for developing Layer 2 chains, and will be constructed using Gelato’s rollup-as-a-service platform. With a strategic emphasis on real-world assets and decentralized physical infrastructure networks (DePINs), Lisk’s Layer 2 is poised to make a notable impact, as stated in an official announcement.

On April 23, 2024, Lisk was worth about $1.84. 

Lisk did not immediately respond to a request for comment.

But what is Lisk (LSK)? How does Lisk work? Let’s see what we can find out, and also take a look at some of the Lisk Price Predictions that were being made as of April 23, 2024.

Lisk Coin Price Prediction

Let’s examine some of the Lisk price predictions being made on April 23, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term Lisk price prediction which said the coin would reach $1.93 on April 28 and $2.35 by May 22. The site’s technical analysis was bullish, with 27 indicators sending positive signals and two making bearish ones. 

Lisk Price Prediction for 2024

DigitalCoinPrice  said Lisk could reach $4.02 this year. CaptainAltcoin  thought LSK would fall to $2.44 by December. PricePrediction.net  said it would trade at $2.65 in 2024. 

Lisk Price Prediction for 2025

DigitalCoinPrice’s Lisk price forecast said the coin would be worth $4.73 next year. CaptainAltcoin suggested it would reach $2.91 then. PricePrediction.net said LSK would stand at $4.04 next year.

Lisk Price Prediction for 2030

Moving on to a more long-term Lisk price prediction, DigitalCoinPrice said it would reach $13.57 in 2030. CaptainAltcoin said it would stand at $6.26 then. PricePrediction.net’s LSK price prediction said it would be worth $28.85 at the start of the next decade. 

Google BardAI Price Prediction for Lisk (as of April 23)

Google’s BardAI platform gave the following price prediction for Lisk on April 23. Please remember that price predictions are very often wrong, and that artificial intelligence should not be trusted. 

Short-term (Next three months):

• Expected Price: $2.47
• Factors to Consider:
  • Market sentiment: Overall crypto market trends will play a significant role. A bull run could push LSK towards $4, while a correction might bring it down to $2.
  • Development progress of Lisk Core 4.0: Successful implementation of planned upgrades like cross-chain interoperability and improved scalability could enhance Lisk’s appeal and attract developers.
  • Adoption of the Lisk SDK and growth of dApps: Increased usage of the Lisk SDK for building dApps and growing popularity of existing dApps on the network could boost demand for LSK.

Medium-term (Next six months):

• Expected Price: $3.18
• Factors to Consider:
  • Success of the Lisk dApp store and DeFi ecosystem: Growth in the number and quality of dApps on the Lisk platform, particularly in DeFi, could increase demand for LSK as the platform’s native token.
  • Strategic partnerships and integrations: Collaborations with other blockchain projects or established businesses could bring more users and developers to the Lisk ecosystem, impacting LSK’s value.
  • Increased awareness and marketing: Successful initiatives to raise awareness and attract developers and users to Lisk could drive demand for the platform and, consequently, LSK.

Long-term (Next five years):

• Expected Price: $4.38
• Factors to Consider:
  • Widespread adoption of Lisk as a platform for building dApps: If Lisk establishes itself as a user-friendly and efficient platform for developers, it could attract a significant number of dApps and lead to substantial growth for LSK.
  • Mass adoption of blockchain technology: If blockchain becomes widely used for various applications, platforms like Lisk with its focus on interoperability and ease of use could see significant growth and token appreciation.
  • Unforeseen events: Technological breakthroughs, regulatory changes, or major partnerships could dramatically impact Lisk’s price, potentially pushing it much higher.

Additional factors to consider:

• Team and development activity: Consistent development, successful project launches, and a strong team can inspire confidence and attract investors.
• Community engagement and ecosystem growth: A vibrant and engaged community with a growing ecosystem of dApps and projects can contribute to long-term success and LSK’s value.
• Competition from other dApp platforms: Performance of competitors like Ethereum, Solana, and Polygon could influence Lisk’s relative adoption and LSK’s value.

It added: “Remember, these are just speculative scenarios based on available information. The cryptocurrency market is highly volatile, and unexpected events can significantly impact price movements. Always conduct your own research and understand the risks before making any investment decisions.”

LSK Price History

Now, let’s examine some of the highlights and lowlights of the Lisk price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Lisk price prediction.

Lisk started trading in the spring of 2016, when it was worth about $3.90. It went down, but it enjoyed success as the market went into a bubble in late 2017 and early 2018. LSK reached its all-time high on January 7 2018 when it was worth $39.31. After that, it fell down somewhat, spending much of the next three years under $1. It recovered in the boom of early 2021 and traded above $9 in May before falling back down to close the year at $2.35. 

In 2022, the markets crashed and Lisk suffered. When the Terra (LUNA) blockchain collapsed in May, LSK dropped below $1. Any hopes of a recovery were snuffed out when the FTX (FTT) exchange declared bankruptcy in November, and it closed 2022 at $0.7183, an annual loss of nearly 70%.

Lisk in 2023 and 2024

2023 was a better year for Lisk. There was some upward movement early on, but the news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase exchanges saw it crumple in the middle of the year. There was some recovery later on and it traded at $1.30 at close of play on December 31. This meant Lisk rose more than 80% over the course of 2023.

So far, 2024 has been up and down for LSK. It shot up to $2.17 on January 2 but, by January 22, it was back below $1. There was some excitement about the Binance futures, though, and, on January 26, 2024, it was worth about $1.25. On April 23, 2024, it increased to $1.84.

At that time, there were 128.9 million LSK in circulation out of a total supply of 144.8 million. This gave Lisk a market cap of around $236.7 million, making it the 257th largest crypto by that metric. 

Lisk Price Analysis

Lisk is still within the horizontal zone where the last bull market started from in January 2021. Its lower level of $0.66 was retested in January, June and September 2023. Since then, a new upward advance started, with LSK hitting $3.20 on March 5, 2024. This was followed by a sharp downturn, leading the price back to $1.20 on April 13. 

This low could have been the completion of the first bull phase correction as it came down in a three-wave manner after a five-wave upward move. 

The daily chart Relative Strength Index came down to the oversold zone of 30%, which also suggested that the low could be in. As we saw a 55% recovery from there, there are two possibilities ahead. 

In the bullish scenario, Lisk’s recent low was the completion of an ABC correction was wave two of a five-wave move. In that case wave three started and will now bring the price of Lisk to a higher high above $4. 

However, seeing another downturn could mean that LSK hasn’t finished its corrective stage with another retest of the $0.66 support to come before it can start a new bull cycle.

Is Lisk a Good Investment?

It is hard to say. The futures news has helped Lisk rise over recent days, but it is still down since the start of the year. Perhaps more concerningly for potential investors, Lisk has been around for nearly eight years and is still a long way from the top 100. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in LSK.

Will Lisk go up or down?

No one can really tell right now. While the Lisk crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Lisk?

Before you decide whether or not to invest in Lisk, you will have to do your own research, not only on LSK, but on other, related, coins and tokens such as Ethereum (ETH). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Lisk?

Max Kordek and Oliver Beddows are the founders of Lisk.

Fact Box

In its technical documentation, or whitepaper , Lisk says it is a next generation platform that allows for the development and distribution of JavaScript based decentralized applications using an easy to use, fully featured ecosystem. Through Lisk, developers can build, publish, distribute, and monetize their applications within a custom built cryptocurrency powered system that utilizes custom blockchains, smart contracts, cloud storage, and computing nodes; all from within one industry solution..

Lisk (LSK) Explained

Crypto entrepreneur Max Kordek and developer Oliver Beddows founded Lisk  in 2016. The platform uses a JavaScript-based software development kit (SDK) to help people create DApps quickly and easily. The platform aims to bring 100 million people into the world of web3. 

The LSK crypto supports the Lisk blockchain.

How Lisk Works

Lisk uses a Proof-of-Stake (PoS) consensus mechanism. This means people are chosen to add blocks to the blockchain, verify transactions and secure the network based on how many LSK they hold. 

LSK holders can also vote on changes to the Lisk network. People can also buy, sell, and trade it on exchanges. 

Lisk Attention Tracker

A chart for the lISK Google search volume for the past 90 days is unavailable as Google says there’s insufficient data to have one. 

FAQs 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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