Matt Williams
The market reacted well to the news of Lucky Block’s ETH bridge nearing completion, making the Lucky Block V1 token an undervalued crypto – once the bridge is complete it’s expected that the project’s V1 and V2 token will be equal in value, minus transaction taxes.
Today the Lucky Block V1 price rallied over 30% from approximately $0.00038 to $0.00051.
Is Lucky Block V1 Now an Undervalued Crypto
Learn more about the Lucky Block project and its upcoming ETH bridge which is close to completing its CertiK audit on the official Discord or Telegram support group (admins will not DM you first).
We also covered the background to that bullish fundamental news in our news section:
That news potentially makes LBLOCK V1 considerably undervalued as it has retraced deeper than the V2 token, now likely oversold and due for a corrective move to the upside.
The Lucky Block V1 live market cap is also now low at just under $20.5 million, with a fully diluted valuation (FDV) of $50.5 million.
On the official Telegram an investor commented:
‘Just hypothetically, you buy V1 now, for $0.0005, switch it via bridge once available and get V2 which is actually traded at $0.0012… and then you could sell… with profit.’
Admins also posted an explanation here of why there are two tokens – in short, the V2 token has no sales tax allowing it to be listed on more crypto exchanges.
A moderator also posted his Lucky Block V1 price prediction relative to the V2 price:
‘When the bridge is on they will have the same value.’
The launch of a second ERC-20 token may have caused some holders to sell their V1 token holdings for V2 earlier this year, leading to the V1 token becoming one of the most undervalued cryptos right now – and potentially a good buy now that the ETH bridge is expected to be completed on October 3rd.
In theory, the only difference in price between V1 and V2 once the bridge is active would be the 12% sales tax – yet currently the V1 price is under half the price of V2 ($0.0012).
There will be a 12% tax when swapping LBLOCK V1 for V2, but no tax when swapping V2 to V1.
The Lucky Block V1 token is listed on PancakeSwap, and the V2 token is listed on LBank, Gate.io and MEXC.
Update – Lucky Block CEO Scott Ryder also announced on Telegram that a monthly 1% token burn would be implemented from September 30th onwards, to support the LBLOCK price.
Related
Lucky Block - Undervalued Crypto
- Listed on Gate.io, LBank, MEXC, PancakeSwap
- NFT Competitions, Jackpot Draws
- Powers Casino & Sportsbook Platform - luckyblock.com
- 10,000 NFTs Minted
- $2M+ in Prizes Awarded
This article was written for Business 2 Community by Matt Williams.
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