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Binance News

Binance is gradually reopening withdrawals for a new batch of assets, starting Nov. 3, focusing on BSC, Ethereum, and Solana networks. Deposits remain unaffected, and Binance will cover losses from stolen funds.

TokenPost

Bitcoin has fallen below $77,000, with major altcoins like Ethereum and Solana also showing slight declines. Zcash, in particular, has dropped 6.3% in the last 24 hours, along with significant drops in Near Protocol, LSK, Ethena, and BEAM. Conversely, HOT, HAEDAL, Tron, and Monero have seen gains.

TokenPost

Lisk is shutting down its Ethereum Layer 2 network, Lisk Chain, including its portal and bridge services. Approximately 5.2 million LSK remaining from staking rewards will be burned. Future business will focus on an enterprise financial services platform, and LSK will continue to be used as an Ethereum royalty token.

TokenPost

The Rethink chain, which has been in operation for 10 years, has been terminated on the 2nd. Approximately 5.23 million LSK are scheduled to be burned, and LSK will be maintained as a royalty token on Ethereum. Rethink plans to focus on a financial operations platform for businesses in the future.

TokenPost

According to CoinMarketCap's page views, LIT ranked first globally, and NIL ranked first in Korea. Seven out of the top 10 global cryptocurrencies saw an increase, while the top 10 in Korea showed a different trend compared to the global market. LIT, POWR, and G garnered attention globally, while NIL, RLC, and ZAMA were frequently viewed in Korea.

Coindar

Lisk Announces Token Swap on October 24th

Lisk is closing its bridge to Ethereum on October 24th. Users holding ETH, stablecoins, or LSK on the Lisk Chain must initiate their bridging process by this date, with all withdrawals needing to be claimed by November 2nd.

리스크 LSK 블록체인 서비스 종료 — 10년 만의 피봇, 왜? — View post

KITTO@kitto

Crypto Signal

Translated from Korean

Lisk, a first-generation blockchain project that once drew significant attention with a market cap of $4 billion, is shutting down its mainnet service completely after 10 years.

According to a report by BeInCrypto, Lisk is closing its legacy Layer 1 blockchain and preparing for a full pivot to a business financial platform. To achieve this, a radical proposal has been put to a governance vote to burn 100 million LSK tokens and dissolve the associated DAO.

Looking at the current crypto scene, there is a clear trend toward operational de-risking, involving the clearing of legacy infrastructure or the simplification of complex structures. As the regulatory environment becomes more stringent and market fundamentals shift, projects stuck in legacy models are shedding dead weight to ensure their survival.

While the exit of a chain that defined an era is bittersweet, it will be worth watching what precedent their pivot—prioritizing realistic survival and efficiency—sets for the market. It remains to be seen whether other long-standing projects will join this wave of major restructuring.