Lisk Becomes Second Most Popular Cryptocurrency Traded Against Bitcoin

Looking at the overall cryptocurrency landscape, it is becoming clear Lisk is gaining a lot of momentum in the Bitcoin trading markets. So much even that this new currency has claimed the second spot in the overall rankings. However, The DAO and MaidSafe are on its heels.

Lisk Trading Volume Is Picking Up

TheMerkle_Trading Volume Lisk

It comes as no surprise to find out all of the LSK trading volume is done through Bitcoin, as there are no other trading markets for this currency just yet. That situation may change at some point in the future, though, but for now, it looks like there are plenty of Bitcoin traders interesting in Lisk.

It is also no surprise to find out Poloniex is the driving force behind this trading volume, with over 80% of the total Bitcoin volume in the past 24 hours. Yobit is in second place, though, which is not something most people had anticipated at this point in time. However, it is good to see new players emerge in the field of cryptocurrency exchanges.

BitTrex, often referred to as one of the most robust cryptocurrency exchanges, is taking up the third spot for Lisk trading so far. However, with just 3.24% of all volume, the platform still has a lot of catching up to do compared to its major competitors. In comparison, Yobit holds over 15% of the 24-hour trading volume.

Despite these positive numbers, the overall Bitcoin trading volume seems to be dropping by a significant margin. On May 26, there was over 35 million LSK being traded, which was quite a lot. But over the past few days, things have gone downhill, and yesterday, under 6 million Lisk was traded. Today is not looking much better, with just over 1.5m LSK in volume so far.

That being said, Lisk seems to be holding its value across the exchanges, despite this decline in trading volume. The value has dropped from its opening price point of over 94,000 Satoshi to 61,830 Satoshi. But there still seems to be a very strong interest in LSK, which bodes well for the future.

Source; CryptoCompare

Images credit 1,2

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