New NFT $1M Giveaway Launching This Month – Time to Buy Lucky Block?
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- Chainlink’s VRF technology powers Lucky Block’s crypto giveaway scheme, which creates random numbers and provides cryptographic proof.
- A $10,000 daily prize fund will be divided among Lucky Block’s NFT holders.
- LBLOCK/USD coin is currently trading at $0.0011 after bouncing off the 0.00099 support level.
LBLOCK has extended its early-day gains and remained well bid at around USD 0.001035 with a 24-hour trading volume of $832,305, possibly due to the latest announcement regarding the $2 million prize pool for token holders. Lucky Block, a decentralized crypto prize draw and giveaway project, has announced a prize pool of over $2 million for its groundbreaking free-to-enter jackpot, with a percentage of the revenue purportedly going to charity. Lucky Block has created a “trustless” crypto game that employs smart contracts to collect and distribute rewards according to pre-defined parameters using blockchain technology.
Chainlink’s VRF technology powers Lucky Block’s crypto giveaway scheme, which creates random numbers and provides cryptographic proof. This improves the transparency of the project and the legitimacy of the draw in the eyes of potential players. For instance, the current Lucky Block price is $0.001035 with an $832,305 24-hour trading volume. In the previous 24 hours, Lucky Block’s increased by 28.09 percent.
$2 Million Prize Pool for Token Holders
Lucky Block, a decentralized crypto prize draw and giveaway project, has announced a prize pool of more than $2 million for its groundbreaking free-to-enter jackpot, with a percentage of the funds purportedly going to charity. This coming May giveaway, which will be the first of many for the project, will be open to all holders of LBLOCK, the project’s native token.
Lucky Block has attracted over 50,000 token holders due to its compelling tokenomics, which include a 12% transaction levy to deter speculative trading. Following this announcement, the price of LBLOCK has climbed by 21% in the previous 24 hours as investors race to buy the token to participate in the future giveaway. LBLOCK’s maximum supply has been set at 100 billion tokens, giving the digital asset a market valuation of $131.43 million at today’s price of $0.001365 per token.
All funds collected will be sent to the Lucky Block Main Draw Pool, which is currently valued at $2.37 million.
Daily NFT Prize Draw
In addition to the main jackpot, Lucky Block offers a daily NFT draw. This prize draw is for non-fungible token (NFT) holders who have purchased at least one of the 10,000 limited-edition Platinum Rollers Club NFTs manufactured by Lucky Block’s development team. According to the project’s official website, a $10,000 daily prize fund will be divided among Lucky Block’s NFT holders, with a one-time prize of a Lamborghini valued at £270,000 going to one lucky NFT holder once all 10,000 NFTs have been sold.
At the time of writing, the floor price for Lucky Block’s NFTs is set at 3.75 WBNB, or $1,222.73 per NFT. Another advantage of purchasing one of the project’s NFTs is that holders will have unlimited access to the daily draws for the rest of their lives. In addition, NFT holders may strike it rich and win one of the project’s 25 rare NFTs. These rare tokens will be more valuable than the 10,000 limited edition issues. Furthermore, according to the project’s smart contract parameters, if owners of the rare NFT win the jackpot, the award will be instantaneously doubled. Because of these announcements, investors bought tokens so they could take part in the future giveaway, which drove up the price of LBLOCK.
Crypto Market Dip – How It Impacts Lucky Block?
The recent sharp drops in the crypto market had little impact on LBLOCK prices. On Thursday, Bitcoin fell below $27,000 for the first time in nearly 16 months, as cryptocurrency markets lost ground amid concerns about rising inflation and the failure of a contentious stablecoin project. The price of bitcoin fell as low as $26,595.52 on Thursday morning, according to data.
Bitcoin has fallen below $27,000 for the first time since December 30, 2020. Despite the brief drops, BTC was trading at $30,502.4 on Friday, up 10.09 percent on the day. It was the most significant percentage increase in a single day since February 28. Bitcoin’s market capitalization has risen to $578.4 billion, accounting for 44.64 percent of the total cryptocurrency market capitalization. The market capitalization of Bitcoin peaked at $1,275.5 billion.
Lucky Block Price Prediction – $0.0013 Level to Support
The LBLOCK/USD coin is currently trading at $0.0011 after bouncing off the 0.00099 support level. LBLOCK/USD fell to $0.00070 after breaching a double bottom support level of $0.0010. The majority of the LBLOCK sell-off can also be attributed to a sharp drop in the crypto currency market. If you’re keeping an eye on the market, you should be aware of Terra LUNA and UST. It has had a negative impact on Bitcoin and altcoin trading sentiment, and has forced LBLOCK to wait.
Anyway, the traders are back in action, and LBLCOK technical analysis appears to offer some good trade setups. LBLOCK is currently trading with a bullish bias at $0.00111. It is gaining traction at the $0.001003 level. This support is extended by a 38.2 percent Fibonacci retracement level.
Since the LBLOCK has broken through the 38.2 percent Fibonacci retracement level, we could see it rocketing towards the 61.8 percent Fibonacci retracement level of $0.00117.
What to Expect from LBLOCK?
On the plus side, a surge in demand could propel the LBLOCK price to the next resistance level of $0.001735. A surge in demand could push the LBLOCK price up to $0.002025. Further on the higher side, a slice through the $0.002025 level can expose the token price towards the next resistance level of $0.002920 level. Further up, a slice through the $0.002025 level can expose the token price to the next resistance level of $0.002920.
On the downside, the immediate support level for the LBLOCK/USD coin remains at $0.0010. A significant increase in selling pressure could result in a bearish breakout below $0.0010. As a result, the LBLOCK price is likely to be exposed to the $0.00098 or $0.00078 level. Consider buying above $0.0010 with a $0.0014 or $0.0017 target. That’s all I’ve got for the time being. Best wishes!