Lucky block expected to surge following gate listing
Lucky Block has listed on Gate.io as of September 1 and prices are now expected to surge following its launch on the leading exchange.
The project has already enjoyed a great 2022 and its previous listing on a centralized exchange - MEXC in early August - saw the coin reach profits of more than 700%, indicating that another similar rise could be imminent.
What is Lucky Block?
Lucky Block is the market leading NFT competitions platform, where players earn prizes by holding NFTs and entering into prize draws.
As well as smaller daily draws, Lucky Block has unrivalled prizes and competition draws that currently include the chance to win a $300,000 Lamborghini, a $1 million house, $1 million of Bitcoin or a Bored Ape Yacht Club NFT.
To enter competitions, investors must purchase an NFT from the collection specially minted for each prize - while holders of the NFTs also get additional rewards from the transaction fee pool as long as they own the NFT.
What is LBLOCK V2?
Lucky Block initially launched its $LBLOCK V1 coin at the start of the year to massive fanfare and hype on the BNB Smart Chain, offering peak returns of around 6,000% for early investors.
However, because it was built on BSC it was difficult to list on centralized exchanges and instead potential investors had to spend a 12% tax on any transaction, whether buying or selling.
The project has since launched LBLOCK V2, one of the best new crypto coins around that has eliminated transaction fees completely, allowing listings on centralized exchanges.
LBLOCK V2 saw price pumps of more than 200% on centralized exchanges MEXC and LBank after listing and another pump is expected following its release on Gate.io.
Gate is the fifth-largest crypto exchange on the market and the listing on the platform will see increased awareness, volume and price action.
What is the Lucky Block Bridge?
Some early LBLOCK investors opted not to exchange their V1 tokens on LBANK once the V2 coins became available, missing the initial opportunity to switch their assets.
However, the project has since announced that a BEP-ETH bridge will be launched on October 3 to allow those who still hold LBLOCK V1 to convert to V2 - holders who opt for the switch will receive 0.88 V2 tokens for every V1 token they currently hold.
The bridge is not yet ready as it is currently being audited and verified by blockchain security company Certik, the firm of choice for Binance.
The audit must be completed thoroughly given the frequency and severe damage of cyber attacks on blockchain bridges in 2022. Forbes revealed that nearly $2 billion has already been stolen in a series of exploits on bridges this year.
High profile hacks include the theft of more than $600 million from Axie Infinity’s Ronin bridge, $100 million from Harmony, $326 million from Wormhole and the recent $200 million hack of Nomad.
Reasons to be bullish on LBLOCK V2
The LBLOCK V2 coin has seen steady growth since launching as well as big price hikes ahead of and with each new listing - as mentioned above, LBLOCK V2 is up 13% in the last 24hrs.
The coin will continue to pump following the launch on Gate and should earn investors good returns in the future. With 0% fees, the V2 coin is much more tradable than the V1 coin and that will likely see increased volume over the coming months.
Furthermore, LBLOCK could yet feature on other big exchanges, not only increasing exposure and awareness but opening it up to greater levels of liquidity and volume.
The LBLOCK V2 is the in-game currency for the Lucky Block ecosystem, which is a market leader in blockchain-based prizes and competitions. Lucky Block is a growing part of the trillion dollar crypto gaming industry, which sees no signs of slowing down and will only see more growth and revenue as players ditch traditional gaming for the blockchain.
One of Lucky Block’s fundamental features is to offer greater transparency and security for players, avoiding some of the pitfalls of more traditional platforms.