Under-the-Radar Blockchain Project Defies Crypto Downtrend, Surges 22% This Week As It Nears Mainnet Launch

Under-the-Radar Blockchain Project Defies Crypto Downtrend, Surges 22% This Week As It Nears Mainnet Launch

Altcoins

An under-the-radar blockchain project has surged more than 22% this week, defying the crypto market doldrums.

LUSKO (LYXE) is an Ethereum (ETH) virtual machine blockchain that aims to revolutionize the way brands, creators and users interact in Web3.

LYXE is used to secure the decentralized infrastructure, pay for transaction fees, staking and in-block production.

The project’s native token, LYXE, surged to a weekly high of $7.16 from a seven-day low of $5.85, representing an upswing of over 22%.

The token’s market-thwarting gains come as LUSKO nears its mainnet launch in 2023.

Explains the project,

“We are working on the last milestones to launch LUKSO mainnet. Currently, we are in the process of testing the Mainnet Start Procedure with internal networks and building out all of the tools that are required for the mainnet launch including the Validator Deposit Launchpad, Node Starting & Management tools, and the LYXe migration…

We are currently finalizing the Validator Deposit Launchpad. This will be the tool for users to become a staking validator on LUKSO. The Node Starting and Management tools we are building will allow a user, developer, or staking service to run LUKSO nodes in an easy way.”

LUSKO teased another mainnet update on January 22nd.

At time of writing, LYXE is changing hands for $6.48. Despite its gains this week, LYXE remains more than 84% down from its all-time high of $41.18.

Generated Image: Midjourney

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