Lisk's current price fluctuates around $2. Over the past few days, the LSK rate has increased by almost 25%. Are there specific reasons for such a big price change?
A huge demand for LSK?
At the moment, this cryptocurrency, with the market cap of 267 947 889 USD. is on the 34th position in the CoinMarketCap ranking. And even though current increases are nothing compared to ATH on the 7th of January 2018, Lisk has not seen such price levels for a long time.
Yesterday's session on LSK was opened at 1.70 USD, and closed at 2.24 USD and it seems that token's rate is still growing. When looking at the monthly chart, it can be seen that the gradual increases began at the end of January. What is interesting is the fact that it was in July, 2019, that this particular cryptocurrency was for the last time at the level of USD 1.8. In the 7-day range, the LSK rate gained 72.35%. And at over January the increase equaled 89%.
Potential causes of increases
Although a great number of people is looking for reasons why this cryptocurrency experiences such strong increases, it is not as easy to enumerate them as it may seem. It is possible, though, that one of them is the progress towards the Lisk 3.0. During this update, improvements will be made to the altcoin's ecosystem.
Some time ago, LSK was also listed on a popular Japanese cryptocurrency exchange, Coincheck, which launched a stakeout service for it. And although it is part of the test phase, the platform has promised LSK owners that it will share the profits with them. The size of the profits depends on the amount of assets held on the particualr account. There is a possibility that all this translated into the price of this cryptocurrency.