Lisk

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/lsk-price-rises-after-supply-reduction" data-wpel-link="internal" rel="noopener noreferrer nofollow">LSK Price Rises After Supply Reduction</a><br></p>
<p style="text-align: justify">The cryptocurrency market experienced a significant development as Lisk (LSK) announced a potential reduction in its total supply through a burn mechanism. Recently, a proposal was put forth to the LSK DAO to either burn 25% of the existing LSK supply or transfer it to the DAO. This announcement led to a noticeable increase in the LSK price, which saw considerable gains within minutes of <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the news</a> release.</p>
<h2 id="will-lsk-conduct-a-burn">Will LSK Conduct a Burn?</h2>
<p style="text-align: justify">According to the latest updates, LSK, which is available on major exchanges like <a href="https://en.bitcoinhaber.net/binance-expands-watchlist-flags-10-more-altcoins-for-potential-delisting" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, might significantly reduce its total supply. The proposal, currently under vote, suggests a 25% reduction which could potentially decrease the existing 400 million LSK. The exact outcome of the vote remains pending, but the market has reacted positively, anticipating the potential supply reduction.</p>
<h2 id="how-has-lsk-s-price-reacted">How Has LSK’s Price Reacted?</h2>
<p style="text-align: justify">Following the announcement, LSK’s price surged past the 1-dollar mark, reaching 1.049 dollars, marking a 9% increase. The cryptocurrency broke out from its previously consolidated price range, exhibiting strong upward momentum. This price movement reflects investor optimism regarding the proposed supply reduction.</p>
<p style="text-align: justify">LSK also witnessed a substantial increase in market cap and trading volume. Its market cap rose above 151 million dollars, and trading volume surged by 120%, driven by intense investor activity. Despite this increase, the trading volume remains relatively low compared to other cryptocurrencies, ranking 573rd on Coinmarketcap’s trading volume list.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">– The proposed LSK burn could reduce the supply by 25%, affecting 400 million LSK.<br> – LSK’s price surged by 9%, settling at 1.049 dollars post-announcement.<br> – Market cap increased to 151 million dollars, with trading volume rising by 120%.<br> – The trading volume’s ranking is 573rd on Coinmarketcap, indicating potential growth opportunities.</p>
<p style="text-align: justify">The impending decision on the LSK supply reduction has injected a fresh wave of optimism among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, driving up the cryptocurrency’s market metrics. Observers are keenly awaiting the final outcome of the vote, which could further influence LSK’s market dynamics.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/lsk-price-rises-after-supply-reduction" data-wpel-link="internal" rel="noopener noreferrer nofollow">LSK Price Rises After Supply Reduction</a></h5>

LSK Price Rises After Supply Reduction

Spis treści

BH NEWS

Inne artykuły opublikowane 26 lip 2024

Is Bitcoin Still the Most Commonly Exploited Cryptocurrency by Criminals?

CRV Dumps 50% In 1 Year: Founder’s Forced Liquidations A Pain For Holders

Weekly Article Recap: 7/15-7/19

BlockDAG Rocks With $60.9M Presale And Big Team Reveal Updates; Arbitrum Price Surge And DADDY Pa...

Palau Pioneers Blockchain-Based Digital Residency with Solana

Next Cryptocurrency to Explode Friday, July 26 — Azuro Protocol, UMA, Aerodrome Finance, ORDI

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!