News

Lisk is a DPoS-based decentralized application platform that support the Javascript programming language. After the initial release of the Lisk Core 1.0 to the MainNet in August, and several additional milestones such as Lisk Elements or the Lisk Hub, the project managed to continue the progress achieved previously.

October 4 marked the release date for the Lisk mobile application available for iOS and Android, which aims to serve as a basic entry point into the LSK ecosystem. The App offers basic wallet functionality and network overview.

Lisk offers tokenization and application features similar to what Ethereum, Cardano and EOS has to offer. Lisk offers easy sidechain creation in order to run decentralized applications on the network.

Charts

The LSK/BTC chart on Binance is one of the seemingly textbook-style examples for a bottom formation. The market cap of LSK has corrected from a high over 4 billion USD to the current cap of 310 million USD, which is an over 92% correction.

Currently the price has formed a first and possibly second bottom, with the first being a more violent one and the second forming a more rounded version. This means that the price is potentially forming an Adam & Eve bottom pattern.

On both occasions growing volumes were present. Before the second bottom formation a falling wedge pattern emerged, from which the price broke out and re-tested the top of the wedge afterwards.

The second chart is the historical LSK/BTC chart that is available on Bittrex. Here we can conclude that LSK is in a strong historical accumulation zone that also acts like a heavy support. This zone held so far every single time since the first break above it. The rise on the RSI indicator, while we formed the double bottom is also a positive sign that there is demand for the coin.