· 2 min read

Lucky Block 1% Supply Burn Starts Today - Here’s Why LBLOCK Price Can Surge

LBLOCK token burn
LBLOCK token burn (https://twitter.com/luckyblockcoin)

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. 

Over the past couple of weeks, hype has been building but now, the launch of the highly anticipated Lucky Block (LBLOCK) burn program is upon us and the LBLOCK token seems primed to surge. 

What is Lucky Block

Lucky Block is the world's number one NFT competitions platform. Through its use of blockchain technology and NFTs, the team has created a highly efficient and provably fair competition platform that crypto enthusiasts cannot seem to get enough of. 

lucky block website
Lucky Block Website (luckyblock.com)

Lucky Block allows people to enter huge giveaways with prizes ranging from $1 million in Bitcoin to a top-of-the-line luxury home. Each prize draw can be entered by purchasing a numbered NFT that acts similar to an entry ticket. The price for each NFT is proportionate to the potential jackpot, ensuring that there's something for everyone. 

How Could the Burn Program Affect the Price of LBLOCK?

With the Lucky Block burn program launching today, September 30th, many investors have been stocking up on the token over the past few days as a result of speculation that LBLOCK could soar after the supply begins to drop.

The Lucky Block burn program will see 1% of the total LBLOCK supply eliminated monthly. This will equate to approximately 36.5 million coins in the first month alone or around 11.5% of the total LBLOCK supply over the course of a year. 

This could be huge for Lucky Block. The price of an asset is driven in a large part by supply and demand. Therefore, after the supply of LBLOCK begins to decrease, as long as demand continues steady, the price will inevitably climb. However, with the release of the LBLOCK V1 to V2 token bridge slated for release on October 3rd, 2022, we could see even more upward momentum. 

LBLOCK burn program
Lucky Block Burn Program (https://twitter.com/luckyblockcoin)

With both of these high-profile events taking place alongside a campaign to get LBLOCK listed on well-known centralized exchanges (CEXs) like MEXC and Gate.io, we could see some impressive moves for LBLOCK over the coming weeks and months. As such, it could be worth stocking up on tokens ahead of schedule in order to prepare for the token's potential rise. 

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