Lucky Block Price Pump Incoming With Burn Program Starting Soon
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Lucky Block (LBLOCK) has already proven itself to be one of the hottest new cryptocurrencies this year, thanks to a stream of listings on high-profile exchanges like Gate.io, MEXC, and LBank. However, with the launch of its upcoming burn program, we could see an even larger move for LBLOCK coming in the near future.
Lucky Block Burn Program
Controlled token burns can yield excellent results in terms of upward price movement by reducing the circulating supply of an asset, and increasing scarcity and demand for the remaining tokens. The strategy has been employed by a large number of widely successful projects, including Shiba Inu (SHIB), PancakeSwap (CAKE), and Luna Classic (LUNC).
Scott Ryder, the Lucky Block CEO, recently announced in the project’s Telegram group that a monthly 1% burn would be implemented for the LBLOCK token. The program is expected to begin on September 30th, with an additional 1% of tokens getting burned each month.
🔥 $LBLOCK #tokenburn is coming! 🔥— Lucky Block Casino & Sportsbook (@luckyblockcoin) September 7, 2022
Starting September 30th 2022, #LuckyBlock will implement monthly 1% token burn of the LBLOCK supply in order to support LBLOCK price 😎
Don't miss it, grab some $LBLOCK before at https://t.co/NCzeQkbC90 🤞 pic.twitter.com/fjBVJfM2zf
With LBLOCK currently boasting a max supply of 3.65 billion tokens, we’ll see 36.5 million tokens destroyed during the first month. Becoming a deflationary asset will help to promote upward price action for the LBLOCK token, which is likely to boost demand even further.
LBLOCK Ethereum Bridge
In addition to the monthly token burn, the release of the Lucky Block Ethereum bridge is also drawing closer. It will allow holders of the Binance Smart Chain (BSC) based V1 token to near-effortlessly swap exchange their assets for the newer ERC-based V2 LBLOCK token.
This is big news for LBLOCK holders as it will streamline the trading experience massively, helping to bolster demand for both the V1 and V2. The bridge will go live on October 3rd, shortly after the first token burn on September 30th. Combined, these two events promise to cause a sharp uptick in demand for Lucky Block and could help push the token’s value to new heights.
The LBLOCK token has already been showing huge promise thanks to its centralized exchange (CEX) listing campaign and with the new monthly burn and the V2 bridge, the project has cemented itself as one of the 9 cryptos with the most upside potential.