Lucky Block Surges by 300% on PancakeSwap, FTX listing up Next?

Lucky Block the hot crypto lottery token, has risen more than 300% since its presale price, following its listing on PancakeSwap yesterday – and within 24 hours of that, it has now also listed on premier crypto data site CoinGecko.

The price of the new cryptocurrency has seen many presale buyers make sizeable profits of more than 200%.

Aside from a belief in the strength of the project, many are holding in order to benefit from the dividend that will be paid to all token holders when the lottery platform launches in late March.

The platform, which is built on the Binance Smart Chain, also includes a transaction fee that is incurred by sellers but not buyers.

CoinGecko at the time of writing shows a price of $0.000603 (see chart below), far above the presale price points.

Those who bought at the first presale price of $0.00015 will have seen a gain of 302%, while those who bought at the second presale price of $0.00019 have made raked in gains of 217%.

Lucky Block’s listing price on PancakeSwap was $0.00021, representing a gain of 187% for buyers on the exchange who were able to grab that price.

Perhaps even more impressive is the fact that the presale and the exchange debut took place against the background of heightened bearish price volatility across the crypto complex.

Yesterday the project also released an update on its product development and marketing plans, which it dubbed The Road to Binance.

App launches 21 March, first draw expected on 25 March

The app for the lottery platform is due to land on 21 March and many holders of the coin see this as a key milestone for the project. If the execution of the launch is anything to go by, the first version of the app should be a slam dunk. The first draw is set to take place on 25 March.

Lucky Block is the first lottery to pay a dividend and its blockchain advantages mean it is totally transparent compared to legacy lotteries, regarding payout liquidity, for example. Also, because it is blockchain-based, those payouts will be instant.

And in a side-swipe at the crypto lottery and gaming world, Lucky Block is one-of-a-kind in that 10% of ticket revenues goes to charities. Token holders will even be able to vote on which charities they want to support, among other things. The project has already donated $5,000 to the British red Cross, with more donations to come.

Darnell McWilliams, Lucky Block head of marketing, speaking about the CoinGecko listing, said: “We got on there within 24 hours, which suggests that CoinGecko very much liked what they could see, standing us in good stead for an expedited listing on coinmarketcap – we sent in the application for that last week.

Asked when the LBlock token was likely to make an appearance on a centralised exchange (CEX), McWilliams added: “FTX will probably be the first CEX we list on and, again, our smooth launch means that could be happening very soon, especially now that we are on CoinGecko.”

Lucky Block market cap jumps 10x to $53 million

There are now 9,945 holders of the LBlock token which compares to 8,611 amassed in the presale.

Lucky Block currently has a market cap north of $53 million, a 10-fold jump from its presale valuation (although number of coins in supply needs to be taken into account)

With more exchange listing upcoming and the coinmarketcap listing, more near-term price momentum is to be expected, even with the headwind of selling in the rest of the market.

The project expects to list on Binance sometime in February as its global marketing campaign ramps up.

The Lottery industry is valued at around $333 billion worldwide and just a fraction of that pie could see Lucky Block’s valuation surge.

If you are new to the crypto word and want to find out more about buying cryptocurrency, then hop over to our guide on how to get started.

 

 

For more information on Lucky Block and to keep up with news, check out the website, which has just had a makeover, and the Telegram channel which is growing fast, now with 21,287 members.