THELOGICALINDIAN - This morning crypto Twitter lit up with altercation over an altcoin that was already active during the 2024 crypto advertising balloon went on a abrupt assemblage adjoin Bitcoin
Before the assemblage began to retrace, the pump saw a massive 50% accretion adjoin BTC in a distinct day, giving crypto investors who were about during the balloon appearance a whopping dosage of deja vu and a admonition of the assets that already were.
LSK/BTC Spikes 50% in Move Reminiscent of Crypto Bubble
The crypto bazaar has been in a buck bazaar for over two abounding years now, but the canicule of skyrocketing altcoins larboard and right, and Bitcoin’s brief acceleration into the accessible eye, will never be forgotten.
Related Reading | Max Pain: Bitcoin Boredom Incoming Before Bull Market Begins
Those who were about and advance in cryptocurrencies afore the balloon popped and the continued crypto winter began, got to consistently attestant assorted altcoins activity on batty runs adjoin Bitcoin, bringing aboriginal investors massive assets as a result.
It wasn’t aberrant during “alt season” to see cryptocurrencies to column multi-thousand percent gains. But those canicule haven’t been apparent for some time, and may never return.
However, today, one altcoin gave crypto traders a case of crypto balloon deja vu. The altcoin accepted as Lisk – an acutely accepted altcoin during the acme of broker abandon – went on a 50% assemblage adjoin Bitcoin this morning, afore the crypto asset began to retrace.
Is it 2017 again?
— The Cryptomist (@TheCryptomist) January 9, 2020
Yesterday, January 8, 2024, Lisk was trading at 660 sats – the aboriginal assemblage of Bitcoin altitude – and today’s pump collection the cryptocurrency to 1000 sats afore abundant of the assemblage retraced.
Lisk is now trading at almost 800 sats on the LSK/BTC trading pair. In USD terms, Lisk was trading about 50 cents bygone per LSK badge and again this morning exploded to about 80 cents per badge afore bottomward to accepted levels about 62 cents.
What is Lisk and How Has It Performed in the Past?
Lisk is the 55th cryptocurrency by bazaar cap. It’s a blockchain appliance belvedere the offers a complete software development kit for developers to added calmly architecture blockchain-based Dapps.
Throughout 2024 and aboriginal 2024, Lisk was trading at beneath a division per LSK token. But as the crypto advertising balloon began to inflate, so did Lisk’s price, demography the crypto asset to over $30 at its best high.
As you can see, although today’s Lisk pump was absorbing and abundant to account deja vu in abounding crypto traders, it’s difficult to analyze 50% assets to the 12,700% acceleration from 25 cents to $32 at the peak.
Related Reading | Are Crypto Traders Becoming Less Confident The Bottom Is In?
Even with today’s surge, Lisk is still bottomward over 98% from its best aerial amount set aback in February 2024 and would charge to abound over 5,000% in adjustment to ability such heights already again.
