Lucky Block Price Pump Incoming As 1% Token Burn Approaches
Disclaimer: The Industry Talk section features insights from crypto industry players and is not a part of the editorial content of Cryptonews.com.
Native token to the Lucky Block ecosystem, LBLOCK, could be primed for a pump as the next monthly token burn nears closer. Let’s take a look.
What is Lucky Block?
Lucky Block is a blockchain-based platform that allows people to enter exciting competitions using NFTs in place of an entry ticket. The platform hosts a variety of competitions with a huge array of prizes, including $1 million in Bitcoin and a $1 million luxury home.
Users wanting to participate in a Lucky Block competition can do so by purchasing an NFT from Launchpad.xyz and simply waiting for the drawing to commence. While many competition platforms make entry needlessly complicated, Lucky Block allows its users to sit back and earn daily rewards, even after a drawing has concluded.
The project has recently transitioned from the BEP-20 to the ERC-20 standard. This removed the tax on transactions and allowed the LBLOCK token to get listed on centralized exchanges like MEXC and Gate.io. As a result, the LBLOCK token can now be traded with ease, helping to bolster upward price movement.
How Does the LBLOCK Burn Effect Price?
The first official LBLOCK token burn took place on September 30th and caused quite a stir within the community. In conjunction with the release of the LBLOCK V1 to V2 token bridge, the project enjoyed quite a boost in demand.
Now, the second monthly LBLOCK burn is upon us, and investors are going wild with speculation. Right now, the LBLOCK token is hovering at around $0.0002169 following a surge that took the price of LBLOCK 12% higher.
Now, with the second LBLOCK burn on the horizon, we could see another upward move from LBLOCK. If the token can build up some positive momentum, we’ll likely see $0.0002268 hit before long. From current prices, this would mark a 4% increase. However, if LBLOCK can sustain this price, we could see the asset climb even higher toward the $0.0002464 region.
With Lucky Block turning heads at the moment as a result of its attractive prize draws, deflationary mechanism, and constant updates, it could be the perfect time to get involved with the project. Check out Lucky Block today before the next token burn sends prices soaring.