Lucky Block Surges to $500 Million Market Cap as FOMO Kicks in
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Lucky Block (LBLOCK), set to list on LBank exchange on Friday, is seeing its price surge, with FOMO starting to build as its valuation accelerates past $500 million.
That’s a remarkable achievement for the lottery platform. The LBLOCK token is barely two weeks old on public markets. It starts trading on its first centralised exchange tomorrow (Friday 11 February, 10am GMT)
LBLOCK token has increased in value by more than 100% in the past 24 hours, pricing the token at 0.005070 at the time of writing.
The price since soft launch has increased 4,536% (45x), landing many early investors with life-changing returns.
“We expect to reach a Lucky Block valuation of $1 billion,” says CEO Ryder
Lucky Block CEO Scott Ryder only last week was saying that the project was targeting a market cap of $1 billion, but he would surely be surprised to see it coming into view so soon.
“We expect to reach a $1 billion valuation in the next few weeks,” says Ryder, which could be something of an understatement.
“We are very pleased with the progress the project has made in its short life. With more CEX listings in the pipeline, NFTs to be launched and then the app dropping on 21 March and the first draw a few days after, the team is working flat out at this point.
“Also, can’t say too much right now, but we are very excited about what we’ll be offering the community with our first NFTs, so watch this space.”
Lucky Block lottery draws will be held every day starting on 25 March. The lottery pool from which the prize funds come, is growing at an astronomic pace as trading volume of the token mushrooms. According to coinmarketcap daily volume is now $4.7 million.
Lottery pool tops $3 million
The Lottery pool is now valued at over $3 million. You can see the lottery pool address and its balance via the Bscscan explorer.
The pool is topped up every time a sell transaction takes place – 4% of the value of all sales of the token goes into the lottery pool.
Last night as the price approached $0.004 one large holder decided to sell, triggering a sharp drop in the price, from which the token quickly recovered. That $100,000 sale transaction alone added $4,000 to the lottery pool.
Lucky Block is currently gaining more than 1,000 new holders of the token daily and the Telegram group now numbers 31,243 members.
Lucky Block enters Coinmarketcap top gainers table
Although the token has been trending at No. 1 on DexTools for Binance Smart Chain coins, this morning in the European session it broke into the top 10 gainers on Coinmarketcap.
Lucky Block also boasts the highest trading volume of the top gainers by some margin.
