lblock price chart

Lucky Block, the NFT competitions platform, is seeing its LBLOCK V2 token catch the attention of crypto buyers today.

LBLOCK V2 is the Ethereum-based version and it is trading 20% higher on centralised exchange LBank, at one point priced above $0.0030 and currently printing $0.002831.

Since 22 July LBLOCK has been trading above its 50-day moving average (green line in chart) in a major bullish signal.

LBLOCK bulls were given a further boost when the V2 token began trading on the MEXC exchange at the beginning of August. The price spiked to $0.0049 on that occasion but fell back on profit-taking. LBLOCK V2 is trading at 0.00279 on MEXC.

Lucky Block LBLOCK V2 price pumps on LBank and MEXC

LBank and MEXC are the 15th and 17th largest exchanges by daily trading volume, according to coinmarketcap.

However, as today’s action confirms, buying pressure is nevertheless building up for the LBLOCK V2 token, which can be traded without paying any taxes.

The V1 version of LBLOCK, available only on decentralised exchanges, attracts a tax of 12% on sales (which in LBank’s case was 6% on both sales and buys), but enables owners to accumulate rewards from the jackpot draws.

The V2 token was introduced as a trader- and centralised exchange-friendly version of the token.

It is aimed at opening up LBLOCK markets to the greater liquidity present on the Ethereum ecosystem and centralised exchanges more generally, as compared to decentralised exchanges such as Pancakeswap where V1 continues to trade.

LBLOCK v2 listed on Uniswap recently, further adding to bullish sentiment.

More CEX listings for LBLOCK in the works

Holders of the V1 version of the LBLOCK token are waiting for the software bridge to be introduced to facilitate moving seamlessly between the tow token types. When moving from V1 to V2 V1 exchanges at a rate of 0.88 to reflect the sales tax that pertain on DEXs.

More CEX listings are said to be in the works for the token, following on from LBank and MEXC, although details have not yet been released on the project’s Discord or Telegram channels.

It could be that the strong green candle today is in anticipation of imminent listings announcements by market participants with inside knowledge, or just a hunch.

Win $1 million worth of bitcoin, World Cup tickets, BAYC NFTs and more

lucky block nft competitions

Whatever the truth of the matter, the price moves come on the back of growing optimism about the project as a number of initiatives crucial to the platform have now been launched are functioning smoothly.

Lucky Block launched its NFT competitions platform a couple of weeks ago and the prizes available to be won has awakened renewed interest in the  project.

Among the prizes on offer is the chance to win $1 million worth of bitcoin, a house, a VIP trip to the FIFA World Cup and a Bored Ape Yacht Club NFT and, for owners of the special Platinum Rollers Club (PRC) NFT – a Lamborghini. The PRC NFT entitles the owner to a lifetime free entry tot the Platinum Rollers club designated competitions.

Each prize has its own associated NFT collection that those wishing to enter the draws must buy in order to take part.

Lucky Block has built an innovative NFT competitions platform

However, unlike a standard draw, with NFTs added utility can be added, which in this case are rewards accrued from the prize pool. NFT owners receive the rewards for as long as they own the NFT. In addition to being the entry ticket, each NFT also comes with a unique piece of art in jpeg format.

Alongside the NFT competitions platform, the jackpot draws are now taking place daily and anyone with $500 or more worth of LBLOCK V1 tokens in their wallet can claim a free ticket. Tickets can also be bought for $1 each, with a minimum purchase amount of $5.

The last daily jackpot winner pocketed $3,537.

Lucky Block continues to gain growing public profile for its products. Recently a survey on luck commissioned by Lucky Block featured in the UK national media, with articles in the The Mirror and the Daily Mail.

The project has a host of boxing ambassadors, including Dillian Whyte who recently fought Tyson Fury. Other ambassadors include Joe Joyce, Florian Marku and Savannah Marshall

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