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Lucky Block V2 Token Bridge Launching Today – Here’s Everything You Need to Know
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Lucky Block (LBLOCK) has been turning heads recently as a result of the launch of its highly anticipated burn program which eliminates 1% of the total LBLBLOCK supply monthly. However, things could heat up even further for LBLOCK thanks to the October 3rd release of the Lucky Block V1 to V2 token bridge.
What is Lucky Block
Lucky Block is a platform that utilizes NFT technology In order to provide investors and crypto enthusiasts with the ability to enter prize draws with life-changing prizes. Some of the most exciting jackpots on Lucky Block include a $1 million house, $1 million in Bitcoin, and a $300,000 Lamborghini.
Just prior to the beginning of August, the LBLOCK token transitioned from the Binance-helped BEP20 standard to Ethereum’s ERC20 standard. This move eliminated the tax on transactions and allowed the LBLOCK token to get listed on centralized exchanges including MEXC, Gate.io, and LBank.
Although this switch paved the way for exchange listings and was overall extremely beneficial for LBLOCK and its holders, it fragmented the token into V1 and V2 variants. As such, the team created the token bridge to ensure that the project’s investors didn’t remain divided.
The bridge, released today, October 3rd, will allow holders of the V1 token to near-effortlessly exchange their assets for the new, exchange-friendly V2 tokens via the LBLOCK bridge website. This could prove to be huge for Lucky Block as increased trading volumes and a whole community could stimulate the Lucky Block ecosystem in a big way.
The exchange rate for Lucky Block tokens is 0.88 V2 LBLOCK for each V1 token.
How will the Bridge Effect LBLOCK
As it stands today, the price of the V2 LBLOCK token is currently around $0.000458 with the V1 token trading for approximately $0.0003603. This marks around a 27% difference in price between each token, meaning that there’s a potential opportunity for investors to load up on V1 tokens to then exchange for V2.
Today is the day of the Lucky Block bridge release! 🚀
— Lucky Block Casino & Sportsbook (@luckyblockcoin) October 3, 2022
12pm BST! ⏰https://t.co/dghkvrluUF
While this could cause short-term fluctuations as speculators buy and sell the token, the bridge is likely to have long-lasting positive effects on the value of LBLOCK. It will likely increase the average daily trading volume of the V2 token massively, helping to promote positive price action.
The price of the V2 LBLOCK token will likely explode alongside the bridge. On October 2nd, the token briefly spiked to around $0.000595 as investors stocked up in anticipation of the launch of the program. This could just be the start for LBLOCK. As such, it’s worth checking out the project now before the token pumps any further.
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