Here's my take on what might happen in the coming weeks/months

People will think its a great time to buy lisk and invest in DAO tokens, forgetting that there are others before them who bought ata much higher price despite the 1.5x bonus advantage, this will maintain the lisk volume but once DAO tokens begin trading in relation to ETH people will want to cash out their ETH but at that low price they will either hold on doing so or drive the price lower leading to a panic sell, which may funnel into Lisk that may happen in the coming 48-72 hours

Waves has gathered some funds but be it waves or rise (no comparison there), I do not see them offering anything as good as Lisk let alone better than it, Lisk has Azure, 12th highest crowd fund, advantages of ethereum coupled with java script, massive volume gain and public attention and good pr. This i think may cause slight disruption in the Lisk price as waves and rise are released (not sure when), but I strongly think they'll fall back eventually.

The bitcoin halving may also drive the Lisk price higher, coupled with the conferences which Max has planned to attend.

All in all I think Lisk can and may eventually take over a very large portion of Eth volume, although, the Eth DAO will always sustain a good foundation which can decrease eth volatility on the long run.

I'm thinking Eth may increase in volume to 150M USD in the coming weeks, 400M with more public attention and the halving, and up to 600M in a few months. Price may touch on 2USD in the coming weeks, 4 in the coming months and I think may stabilize at 5 or 6USd eventually if all goes well.

For now, what's happening is the market is trying to deal with all the ICO Lisk coming in and manipulating it for short gains, but it will eventually continue to rise.