Lisk Price Approaches $10 as Market cap Surpasses $1bn for the First Time

While most people are keeping a very close eye on the top cryptocurrencies, interesting things are happening outside of the top 10 as well. The Lisk price has seen a pretty solid run over the past few months and it’s now inching closer toward that $10 target. Its market cap has also surpassed $1bn for the very first time, which is pretty interesting. Cryptocurrencies as a whole continue to grow, that much is rather evident.

Lisk Price Trend Should not be Ignored

There are quite a few cryptocurrencies a lot of people tend to overlook these days. In most cases, that is only normal, although some of these altcoins can sometimes come back in a major way. The Lisk price is an interesting example of how quickly things can evolve in the price department. Especially the past three months have been pretty spectacular, as the Lisk price went from under $2.5 all the way to the current value of $9.83.

It is always remarkable how altcoin prices evolve over time in the past few years. In the case of the Lisk price, the price growth is certainly visible for everyone to see. While most people aren’t necessarily paying attention to this currency, it is evident there are some good things happening for this altcoin. Considering there doesn’t appear to be a specific Lisk supply cap, very few people ever expected this currency to be worth more than $1, let alone achieving almost ten times that value.

The growth from under $2.5 to nearly $10 has materialized over just three months. A 400% increase in value is pretty spectacular for any cryptocurrency, especially one that seems to fly under most people’s radar. There have been some interesting developments in regards to Lisk, even though it remains to be seen how this market growth will be sustained in the long run. The rise from $5 to $9.83 has materialized in just a week, which seems to indicate there may be a pump factor involved as well, though.

With $124m worth of 24-hour trading volume, Lisk is certainly in higher demand than some of the top 10 altcoins by market cap. That in itself is always a very strange development to keep an eye on, as it may hint as unnatural growth. We have seen similar trends affect other altcoins in the past few weeks, and it is very likely the Lisk price will come down toward the $6 level in the coming weeks. At the same time, cryptocurrency is not a rational market, and much stranger things have happened as well.

For once, we don’t see Bithumb dominating the trading volume for a currency which is surging in value. The Lisk price is driven by volume from Bittrex, Poloniex, and BitBay in that order. These first two exchanges related to a Bitcoin-based trading pair, whereas BitBay uses PLN as the main currency for LSK. There are only three exchanges which generate over $5bn in volume, though, as the top three represents 90% of all Lisk trades right now.  A somewhat dubious trend, but it is too early to tell where things will head next.

One thing to keep in mind is how Lisk is now an attacking with a market cap of over $1bn. A few months ago, we had a handful of currencies worth that much money. Right now, there are 12 currencies in this “elite club”, with at least one more on the cusp of breaking this barrier later this week. The growth of cryptocurrency, in general, has been pretty spectacular, that much is evident. How things will play out for the Lisk price, remains to be determined. A lot of strange things are happening in the world of cryptocurrency right now, that much is certain.