Since Wednesday, July 27, the Lucky Block V2 token has been traded on LBank. Following the announcement, the price jumped 250%. This version 2 of the token will be listed on many exchanges. Which makes it a token to watch closely.
The launch of Lucky Block’s V2 token on Ethereum was supported by LBank. After the completion of the contract transfer, the token began trading on the platform. The LBLOCK token exists in two versions, V1 and V2, in the Lucky Block ecosystem. V1 is a BEP-20 token backed by decentralized exchanges that operate on the BNB Chain like PancakeSwap.
The second and new version is an ERC-20 token, it is the one that will be traded in the centralized exchanges (CEX). The switch to V2 was necessary to be listed at the CEX level, because the latter do not allow the levy of tax on the sale of the LBLOCK token, as is done with V1.
This month, the V2 update came into effect with no tax levy and it will no longer be eligible for Lucky Block’s prize pool rewards. On centralized exchanges like LBank, LBLOCK V2 is better suited for short-term trading.
V2 is essential, as it simplifies the listing of the token by centralized exchanges, increases its liquidity and makes it accessible to a wide audience. DEXs are sometimes sparsely made up of newbie investors.
A system of struck and of burning will ensure price parity between versions 1 and 2.
As the V1 token will be maintained, long-term investors in Lucky Block will be able to continue to participate in the rewards program through decentralized exchanges. After LBank and MEXC on August 1, further CEX listings are expected in the coming weeks.
Ethereum Liquidity Boosts LBLOCK Token
Token quotes on major CEXs often result in substantial upsides. After being listed on LBank and MEXC, the Lucky Block is expected to experience significant gains over the next few weeks.
In addition, Ethereum’s huge liquidity is expected to increase its market capitalization as well.
What is the Lucky Block (LBLOCK)?
Launched initially on BNB Chain and available now on Ethereum, Lucky Block envisions a global lottery based on blockchain and cryptocurrencies. The developers of Lucky Block maintain that they believe the lottery should not be geographically limited or tied to local institutions. All you have to do is buy NFTs issued by Lucky Block to participate in its competitions. His concept was first presented in 2015.