LSK Soars 20% to $0.37 as Upbit Listing and Binance Futures Fuel Rally
LSK makes power moves—Upbit's new spot trading pair and surging Binance derivatives volume send the token skyrocketing past key resistance levels.
Market watchers note textbook exchange effect: Korean retail FOMO meets institutional derivatives plays. Classic crypto liquidity dance.
Just don't ask about the last time this alt pumped 100%...before dumping harder than a VC's bagholder portfolio.
LSK broke out, boosted by Upbit trading against the South Korean won. | Source: Coingecko
The Lisk project is also trying to make a comeback with expanded Web3 apps. As of November 2025, the sluggish altcoin market left LSK with minimal mindshare, based on Messari data. The dinosaur chain, which existed for a long time with hardly any apps, also failed to draw attention to itself during meme season.
Lisk attempted to break out as an L1 with side chains and a JavaScript SDK to attract app teams. Currently, Lisk has migrated to an OP stack chain, joining the Superchain along with Base and Optimism. The chain secures just $9.1M in value locked, with a version of Morpho and Velodrome DEX.
LSK open interest reaches all-time peak
The LSK breakout provided enough direction for the derivative market. Open interest ROSE to an all-time high of over $22M.
During previous bull markets, LSK mostly relied on spot trading and lost its position to other hotter assets.
The LSK asset also underwent a full transformation. During its ICO stage, LSK was an Ethereum-based token. Later, LSK migrated to its native chain, powered by 100 validators. That chain saw relatively low usage during two bear markets, leading the Lisk team to come back to Ethereum.
LSK now trades in its tokenized form, with Binance as one of its main markets. For now, LSK has not seen any Hyperliquid activity.
LSK trading rises on Upbit activity
Trading volumes for LSK shifted to Upbit, one of the leading South Korean markets. The token is an anomaly, with over 81% of its volumes against the South Korean won.
Despite the recent slowdown of South Korean markets, LSK benefited from its legacy market. The token lined up among the top 5 most traded assets on Upbit, even surpassing solana trading activity.
The LSK spot market is further supported by Binance’s derivative trading. Around $13.7M in LSK open interest has accumulated on Binance, with the rest on Bybit. Based on the liquidation heatmap, the hike to $0.37 liquidated all short positions available and was followed by an almost immediate downturn to $0.35.
In the past day, the rally was also due to a short squeeze, with $1.4M in short liquidations and only around $370K in long liquidations. LSK positions are roughly balanced after the liquidations.
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