Lisk’s LSK token surged from about $0.20 to $2.37 on Sept. 13, briefly rising nearly 11-fold from its low, before reversing sharply. Market snapshots recorded gains ranging from 344.5% to 512.7%, with LSK later trading near $0.9428 or lower. Approximately $36 million in short positions were liquidated during the rally, while CoinGlass readings showed different 24-hour liquidation totals of $38.37 million, $41.13 million and $35.26 million. About five hours after the surge, an address suspected through on-chain links to Lisk co-founder and CEO Max Kordek transferred 3.3 million LSK, worth about $3.79 million, to Binance; neither Lisk nor Kordek confirmed the attribution. Lisk Chain, upgraded to an Ethereum Layer 2 mainnet in 2024, will shut down on Oct. 31, 2026, ending its DAO governance, staking and related programs. Holders of LSK on Lisk Chain must unstake tokens, wait three days and bridge them to Ethereum, a process that may take at least seven additional days because of the optimistic rollup challenge period. The LSK token will continue to exist, while Lisk pursues a 100 million LSK burn that would reduce supply from 400 million to 300 million tokens and continues restructuring around treasury and stablecoin-payment services for business finance teams.