Lucky Block LBLOCK Price Starts Consolidating At Support – Preparing For a 20% Surge?

cryptonews.com:

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 consolidating at key support following the release of the Lucky Block V1 to V2 bridge and the launch of the monthly 1% burn program. Could LBLOCK be repeating a huge 20% surge in the price? We reveal where the price of LBLOCK could head over the coming days. 

Lucky Block is a competition platform that utilizes NFT technology in order to make each drawing and entry ticket unique and verifiable. The Lucky Block platform hosts a wide range of different prize draws with prizes ranging from a Bored Ape Yacht Club NFT to $1 million in Bitcoin. 

While the NFT-based entry tickets grant access to each prize draw, that's not all. Even after the conclusion of the competitions, an NFT is linked to, its holder can still earn rewards from a portion of the rewards pool each day. This means that each NFT is worth holding onto for the long term. 

It's been an interesting couple of weeks for the price of LBLOCK. The September 30th launch of the Lucky Block burn program which eliminates 1% of the total LBLOCK supply monthly caused quite a stir, leading to increased volume in the days running up to the start of the burn. 

However, the launch of the Lucky Block bridge is what really caused excitement among investors. It allowed investors to swap their V1 LBLOCK tokens for the new V2 LBLOCK which has eliminated the tax on transactions and transited to the ERC-20 standard in order to facilitate listings on centralized exchanges like Gate.io, MEXC, and LBANK. 

Just prior to the launch of the Lucky Block bridge, the price of LBLOCK surged by a huge 55% within a matter of hours.