The LBLOCK price chain ups and downs. Analysts are hoping that with the upcoming developments, the price could go up. Is it really possible and will he be able to retest his level at the highest?
A price far from its historic highs
Last October 13, the price of LBLOCK V1 recorded a slight increase and stood at $0.000. Even so, this is still below the price during the presale which was $0.000. The most optimistic saw a price that would be closer to that of the private sale which was $0.000. The same day, the LBLOCK V2 also saw its price drop to $0.000. Currently, both tokens are trading above $0.0002 namely the quotation price of the project last January. For many analysts, it is continuing its downward cycle, but a rise cannot be ruled out in the coming months, especially with all the developments to come.
Chart of LBLOCK | Source: Trading View
let’s remember that Lucky Block traded as low as $0.01 on PancakeSwap and as low as $0.0096 on the LBank exchange in the month since launch. On February 17, it had reached its first all-time high. This represented an increase of almost 65 times its price during the private sale and 50 times its price since the start of trading. Its quotation on the CEX did not allow it to recover, nor even those on MEXC, Gate.io, and the DEX, Uniswap, in particular for its ERC-20 V2 token. Everyone was hoping that this would be the trigger that would trigger a new bull cycle.
Crypto-assets are a risky investment.
A rise to hope for the LBLOCK?
The LBLOCK token just retested its price during the pre-sale, but that was not enough to boost its value. The fact that his market cap has fallen below $9 million should help shake things up. Obviously, there is almost no more selling pressure and the price of LBLOCK managed to record an increase of more than 25% the last days. This, compared to its lowest levels spotted this week.
The rebound in the price of LBLOCK is highly anticipated and several events could contribute to this. Already there is contest which is currently organized on Gleam.io and which allows you to win up to $500. So far, the game has 2,536 entries and what is certain is that it will free publicity for LBLOCK which could gain value. There is also the deployment of the Ethereum gateway which has been effective since October 3rd. Recall that the Bridge makes it easier to convert LBLOCK V1 tokens to V2 and thus switch from the Binance Smart Chain to the network Ethereummany were indeed waiting for the good news.
Take a few minutes, complete all tasks and get a chance to win $5,000 🤩⬇️https://t.co/wnket6t0Gp #gleam #giveaway #cryptogiveaway #gleamgiveaway
— Lucky Block (@luckyblockcoin) October 9, 2022
Factors that could boost the price
Finally, there is the system of monthly burn 1% of LBLOCK tokens. Note that this system was put in place to reduce the total supply in circulation. In the long term, the number of LBLOCK tokens will thus be reduced, they will gain in rarity and automatically in value. The first took place on September 30 and the second is scheduled for the end of the month. Let’s bet thatas the next burn approaches, the price of LBLOCK tokens should increase. Indeed, the LBLOCK thus becomes a deflationary asset.
If we look back on the price history of LBLOCK since its launch at the beginning of the year, we can say that it has gone through both highs and lows. After having recorded several historic peaks, it settled at a relatively low price and the most daring will have chosen to invest during this period. Currently, the Lucky Block can be considered as one of the projects of cryptocurrency the most undervalued in the market. For analysts, the $0.000 level could potentially be strong support in the fourth quarter of 2022. Many are indeed hoping for this to start a bullish trend. Lucky Block’s next price target could be the $0.000 level. In the short term, this is still possible. Above all, this will compensate for the downward price movement that was noticed at the beginning of the month.
It should be remembered that LBLOCK tokens are now available on several CEX and DEX. To buy on LBank, you just have to follow the following steps:
- First of all, you must register on the platform LBank. The tokens are indeed available for purchase on the exchange.
- You must then make a transfer to fund your account. This can be done via a transfer, a P2P transaction or even via a purchase by credit card with fiat currency.
- Once your account is credited with fiat currency, you can purchase stablecoins like USDT with which you can then buy LBLOCK tokens.
- In the menu of available assets, choose the LBLOCK then specify the desired amount.
- Then place your order and then confirm the transaction by validating the operation.
- Then simply transfer your tokens to your portefeuille crypto. For this purpose, it is recommended Trust Wallet.
- Be sure to choose the corresponding blockchain or risk losing your tokens. Once done, validate the operation.
Crypto-assets are a risky investment.
On the same subject : Thanks to this announcement, the price of LBLOCK could explode!
