LSK Soars 344% Amid Lisk Chain Shutdown Announcement

Lisk Chain has announced its plans to shut down on October 31, 2026. This includes the DAO governance system, staking, and all governance-related programs running on the chain.

However, the LSK token itself is not being discontinued.

The shutdown presents a problem for existing holders, as tokens sitting on the Lisk Chain need to be migrated before the deadline. This involves unstaking the tokens, which takes three days, followed by a seven-day bridge process to Ethereum due to the optimistic rollup challenge period.

The token price has surged 344.5% in the past 24 hours, leading to an 'exit pump' scenario. Traders are buying LSK with hopes of earning profits before the shutdown, but this may be short-lived as the Relative Strength Index (RSI) is in the overbought zone and candles are crossing the upper band of the Bollinger Bands.