Lisk surged over 30% on bitFlyer listing

Lisk (LSK) Surges Over 30% Following bitFlyer Listing

Lisk, a blockchain application platform that allows developers to build decentralized applications using JavaScript, recently surged over 30%. The cryptocurrency’s upward movement initially seems mysterious ,as the cryptocurrency market cap has seemingly been consolidating in the last few days and most top cryptos are down by 2% to 7%.

Behind Lisk’s rise is a new listing. The cryptocurrency recently got listed on Japan-based exchange bitFlyer, which has been expanding internationally. This gives Lisk exposure in new markets, effectively bringing in new investors.

After bitFLyer’s announcement, Lisk’s token saw its value surge from $22.5 to a $31.9 high, according to data from Cryptocompare. At press time, the cryptocurrency is still up by 11% in the last 24-hour period.

Soon after listing Lisk, the exchange experienced technical difficulties and became inaccessible. At press time bitFlyer is back up. It confirmed the outage on Twitter, pointed to “connection issues due to highly concentrated server load” as the cause.

Notably, the exchange has recently set up shop in Europe, after already expanding to the U.S. in 2017. Given its over $240 million daily trading volume and its international reach, cryptocurrencies listed on the exchange are bound to surge.

Lisk to rebrand in February

Lisk is set to rebrand on February 20, according to its team’s announcement. Antshare’s rebrand to NEO helped push the project’s value up, and investors believe Lisk’s rebranding may have the same effect.

According to reports, the rebrand will bring in a new interface, website, and platform. This will in turn enhance user experience, and further push Lisk’s Blockchain-as-a-Service offer. Lisk offers developers a platform to create, test, and manage blockchain-based decentralized applications (dApps), using JavaScript.

The cryptocurrency was set to rebrand last November, but failed to do so. At the time, its price dropped from about $10 to $7. Regarding its official relaunch on February 20, the team’s official statement states:

“As a company, we are striving to shape the future of blockchain application and it is our priority to make sure our brand reflects just that.”