Lucky Block LBLOCK Price to Surge on Bridge and Burn Program
Lucky Block is expected to surge in price in the coming days and weeks after two major announcements from the project.
The price is already up nearly 20% in the last 24hrs as investors take up positions for the market leading online competitions platform.
LBLOCK V2 is now priced at around $0.0008 having been priced at $0.0005 just three days ago - an increase of 60% - after key announcements from project CEO Scott Ryder filtered through the space.
As Ryder announced earlier this month, LBLOCK - one of the top cryptos on the market - will now become a deflationary asset, with 1% of the total supply set to be burned from the project on a monthly basis, starting on September 30.
In a post to holders on Telegram, Ryder said: "There has been a lot of uncertainty – and dare I say FUD – hanging over the project. As always, the best rebuttal is to deliver the product.
"To that end my team has been hard at work delivering and executing, so a special thanks to Terence and James on that and our Mods for their polite patience in dealing with an understandably at times frustrated community."
Ryder also made a number of other important announcements, including a promise of LBLOCK being listed on more exchanges, a daily jackpot, the NFT competitions platform having been launched and a move to become a DAO.
Becoming a deflationary asset means that a supply of an asset reduces over time rather than increases over time. Therefore, on a per token basis value should increase as scarcity increases.
LBLOCK currently has a max supply of 3.65 billion coins and September's burn will see 36.5 million erased instantly from the market.
There are numerous deflationary crypto assets, most notably Bitcoin, while Terra Classic (LUNC) pumped around 80% after
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