Lisk (LSK) was in the media a lot earlier in the year, then it went silent as the bear market began to bite. Its price has declined significantly since that time, falling from a high of over $30 to its current price of $5. While this drop can be attributed to the drop in the entire market, the big question is, can Lisk (LSK) attain its all-time highs?
From a look at its fundamentals, chances are that Lisk will struggle before getting back to early 2018 highs. That’s because the key defining features for this crypto are no longer that unique in the market. For instance, Lisk is mainly focused on sidechains as a technique to help it in scaling. While this was a big thing earlier in the year, it is no longer a unique value proposition. There are many bigger projects that are using the same method. Ethereum Classic (ETC), a crypto that is destined to Coinbase is working on side chains. Others like Zilliqa (ZIL), which has a huge media presence, as well as Cardano (ADA) have also solved the problem of scalability and the market is well aware of it. Ethereum (ETH), the most prominent Dapps platform in the market, is also working on solving the issue of scalability through Sharding. With such prominent projects working on scalability, it will be difficult for Lisk with its low media presence to have a huge impact in the market.
Lisk’s other key selling point is the academy for developers and blockchain enthusiasts. This is a great move on the part of Lisk (LSK), since it will help attract more developers into Lisk in the long-run. That’s because it will help grow the number of developers on the Lisk network organically in the long-run. But this is a very long-term project, and might not have a huge impact on the price of Lisk (LSK) in the short to medium term.
One thing is clear though, Lisk (LSK) is an amazing project. The only challenge is that the platforms blockchain market is increasingly saturated. Chances are that only the top few will thrive in the long-run. In this case, bigger platforms like Ethereum (ETH) and Cardano (ADA) have a huge advantage. It’s the same scenario all across the blockchain ecosystem. There are so many good projects out there, whose growth potential is curtailed by increased competition. It’s actually for this reason that Bitcoin’s dominance is beginning to rise again.