{"id":345989,"date":"2022-09-14T09:31:40","date_gmt":"2022-09-14T13:31:40","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=345989"},"modified":"2022-09-14T09:31:40","modified_gmt":"2022-09-14T13:31:40","slug":"lblocks-bridge-and-burn-program-drives-price-up","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lblocks-bridge-and-burn-program-drives-price-up","title":{"rendered":"LBLOCK\u2019s Bridge and Burn Program Drives Price Up"},"content":{"rendered":"

In the past few days, there has been a consistent increase in the price of Lucky Block as investors take up positions for the biggest online contests platform on the market. After a number of important announcements made by CEO Scott Ryder have made their way across the space, the price of LBLOCK V2 has surged to around $0.0008, having been priced at $0.0005 just a few days before. This is a gain of approximately 60%.<\/p>\n

LBLOCK Is Going To Add 1% More To the Monthly Burn<\/h2>\n

One of the most successful cryptocurrencies currently available, LBLOCK, will soon transform into a deflationary asset, as Ryder announced earlier this month. Beginning on September 30, 1% of the total supply of LBLOCK will be destroyed as part of the project on a monthly basis. This practice will begin.<\/p>\n

Ryder acknowledged that there has been a great deal of doubt around the project in a statement that he made available to holders on Telegram. However, he refrained from using the term “FUD.” Delivering the goods is the most effective kind of rebuttal at all times.<\/p>\n

To that end, his team has been diligently working on delivering and executing, so a particular thanks goes out to Terence and James on that, as well as their Mods, for their kind tolerance in dealing with a community that may be understandably upset at times.<\/p>\n

Ryder also made a number of other significant announcements, including a guarantee that LBLOCK will be listed on other exchanges, a daily jackpot, the introduction of the NFT contests platform, and a move toward becoming a DAO.<\/p>\n

How Does The Burn Affect The Price?<\/h2>\n

In order for an asset to be considered deflationary, the supply of that asset must decrease over time rather than continue to grow over time. When a result, the value of each token ought to go up as the number of tokens available goes down.<\/p>\n

LBLOCK has a maximum supply of 3.65 billion coins at the moment, and the burn in September will cause 36.5 million of those coins to disappear instantaneously from the market.<\/p>\n

There are a number of deflationary crypto assets, the most prominent of which being Bitcoin<\/a>; nonetheless, Terra Classic (LUNC)<\/a> rocketed approximately 80% with the introduction of staking and a burn.<\/p>\n

1.2% of LUNC tokens will be burnt during each transaction; however, a monthly 1% burn of LBLOCK’s maximum supply is likely to result in a significantly greater total. This is despite the fact that 1.2% seems like a bigger number.<\/p>\n

LBLOCK Bridge Date Announced<\/h2>\n

Additionally, Ryder disclosed that a connection between the V1 and V2 LBLOCK coins will be made operational on October 3.<\/p>\n

The V2 currency was introduced in August so that the coin could be listed on centralized exchanges more rapidly and the 12% transaction charge associated with the V1 coin could be removed.<\/p>\n

The V2 currency is now available on the exchanges Lbank, MEXC Gate.io, and Ryder has stated that listings on major platforms are currently in the pipeline.<\/p>\n

Once the bridge receives certification from the crypto security firm CertiK, holders will be able to trade one V1 token for 0.88 V2 tokens.<\/p>\n

At the moment, users have the opportunity to win a Lamborghini for $300,000, a mansion worth $1 million, and $1 million in Bitcoin through the usage of the Lucky Block platform, which is the industry leader when it comes to NFT tournaments and prizes.<\/p>\n

Read More<\/h2>\n