Lucky Block, the popular NFT gaming rewards platform, has launched its Ethereum bridge. The price of its native token, LBLOCK, stabilized following the announcement. Despite a poor run last week, LBLOCK’s technical indicators and recent fundamental performances indicate a possible bull run in the coming days.
Lucky Block Ethereum Bridge Goes Live
According to a recent tweet from the NFT rewards platform, the much-awaited Lucky Block Ethereum Bridge is now live.
Dear #LuckyBlockArmy!
Lucky Block Bridge Is Now LIVE!
1/ The Bridge has a 12% tax for the Binance Network to Ethereum network transaction. The tax covers our gas costs to execute the internal bridge functions.
The Bridge: https://t.co/dghkvrluUF pic.twitter.com/Xz5VCXnOt5
— Lucky Block Casino & Sportsbook (@luckyblockcoin) October 3, 2022
As a result of the bridge network, users can now convert their Lucky Block (V1) token from the Binance Smart Chain (BSC) to a V2 copy on the Ethereum network. The idea is for traders to have a speculative instrument on regular centralized exchanges (CEXs), given that the LBLOCK V1 is targeted at decentralized alternatives.
The conversion framework comes with a 12% tax to cover the gas fee required to execute transactions on the Ethereum network. Also, there is a stipulated minimum amount of the LBLOCK V1 tokens that can be converted. According to the development team, users can only convert a minimum of 28,000 LBLOCK V1 tokens using the Ethereum Bridge.
The bridge will be operational for a maximum period of five days.
2/ Launch date: 3rd Oct 2022 at 12 PM British Summer Time (Live NOW) ✅
Bridge close date: 7th Oct 2022 at 12 PM British Summer Time ❌
The bridge will be available only for 5 days until the next date which will be communicated.
— Lucky Block Casino & Sportsbook (@luckyblockcoin) October 3, 2022
LBLOCK V2 Stabilises
Following the announcement of the new bridge, LBLOCK’s price found support after struggling in a strong bearish market. The digital asset lost 15% of its value 48 hours prior, dipping from Monday’s high of $0.00053. Now, it is consolidating at the $0.00030 price peg with an anticipated bullish run.
Currently, the LBLOCK V2 token is trading below its major indicators. The asset’s 10-day simple moving average (SMA) value of $0.00048 points to its struggling form. The crypto asset’s relative strength index (RSI) is also average, signaling an oversold position at 20.97. Despite this, its moving average convergence and divergence (MACD) indicates signals of a possible breakout before the end of the week, demonstrating a buy signal.
The broader crypto market has been posting gains in the last few days, so LBLOCK V2 could be set for a bull run.
Fundamentals Are Key
Although the technical assessment of an asset plays a key role in making an investment decision, fundamental performances across the board often serve as a pointer to the asset’s potential future appeal.
Lucky Block continues expanding its crypto gaming service and non-fungible token (NFT) rewards scheme. According to a recent tweet, the BSC-based protocol recently launched a Bored Ape Yacht Club NFT competition, where users can win a BAYC NFT or the monetary equivalent.
BAYC is one of the legends in the digital collectible ecosystem. The least valued Bored Ape costs about $200,000. Lucky Block would allow users to potentially own the highly coveted digital artwork once they participate in the competitions. Users can easily do this by heading to the ‘Competitions’ section on the Lucky Block website and purchasing one of the 10,000 pieces to stand a chance.
Did you know that you can win a #BAYC #NFT thanks to the #LuckyBlock NFT Competitions and Rewards platform?
Yes, that's really simple, follow the link below and enter the competition ⬇️https://t.co/lU8fV3dasf#NFTs #NFTcompetiton #NFTdrop #NFTcollection #BAYCNFT pic.twitter.com/EBpV5Xdfso
— Lucky Block Casino & Sportsbook (@luckyblockcoin) October 2, 2022
IMPT for ESG-Minded Investors
The energy demand of cryptocurrencies has become a widely debated topic. Popular proof-of-work coins like Bitcoin have consumed more energy than in some small countries. This has led to the rise of more energy-conscious protocols. One such is IMPT, which enables users to obtain carbon credits as NFTs when they shop.
The project automatically connects users to carbon credit service providers, who enable users to participate in the crypto economy without harming the environment. Given its strong leanings to a green crypto economy, IMPT is an ideal project for environmentally-conscious investors and could be the next 50x crypto gem in the future.
The project is currently available on presale, where investors can buy IMPT tokens for as little as $0.0180. Early-bird investors could easily tap into this to profit from one of the greenest cryptos on earth.
Related Lucky Block News
- Lucky Block Ethereum Bridge Opened Today – LBLOCK Price Starts to Rise
- Here’s How to Buy Lucky Block with a Card and Access NFTs
- Lucky Block Crypto Price Pump Soon When Burn Starts on 30th September
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This article was written for Business 2 Community by Jimmy Aki.
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