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Who owns the most lucky block crypto? LBLOCK volatility makes tokens a tough HODL purchase

By Ankish Jain

Edited by Jekaterina Drozdovica

10:00, 30 October 2022

Lucky Block logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration
LBLOCK volatility makes tokens a tough HODL purchase Photo: NurPhoto / Getty Images

Lucky Block (LBLOCK), a cryptocurrency lottery system, hit an all-time low of $0.0001637 on 13 October, according to CoinMarketCap.

As of 28 October, LBLOCK was trading at $0.0002026, down around 98% from its all-time high of $0.009617, set on 17 February 2022.

Lucky Block V1 to USD, February - October 2022

Lucky Block has gained in popularity with the introduction of the Lucky Block V1 to V2 token bridge and the advent of the monthly LBLOCK token burn. In the long run, these events may significantly impact the price of the LBLOCK token.

Who owns the most lucky block tokens? Here we examine LBLOCK's biggest whales, its tokenomics and other aspects that may shape the outlook for the price.

What is Lucky Block and how does it work?

Lucky Block is an Ethereum-based lottery platform that offers to generate passive income via play-to-earn (P2E) games, dividends on non-fungible token (NFT) holdings, and unique incentives and prizes. It eliminates a number of the obstacles of conventional lottery schemes.

Lucky Block V1 debuted on the Binance smart chain (BSC) Chain network in January 2022, followed by the V2 launch on Ethereum (ETH) in July 2022.

According to its whitepaper, Lucky Block intends to expedite the lottery process and permit numerous daily draws. The strategy boosts players' odds of winning while reducing lottery costs.

In addition, low-margin transactions enable users to participate in lotteries that correspond to their risk tolerance levels. Lucky Block believes that lotteries should never be constrained geographically or tied to regional financial systems.

By boosting security, transparency and resiliency, the platform aims to decrease lottery games' financial and operational risks.

For instance, it employs sophisticated blockchain technology to expedite and increase the transparency of rewards. Validating players and tickets help avoid data losses and manipulation concerns.

To use the Lucky Block platform, users must first purchase an NFT. Available on Launchpad.xyz, Lucky Block NFTs are digital lottery ticket equivalents. 

First, it is essential to understand that 4% of each LBLOCK transaction goes to the lottery fund. By locking their tokens, holders would have the option of participating in the daily jackpot. This prize comprises both the lottery cash and the sum of the LBLOCK that has been locked.

When a lottery is performed, 70% of the jackpot is awarded to a single winner, 10% is donated to charity, 10% is spent on marketing and 10% is divided to all LBLOCK token owners in proportion to their holdings.

While the price of the tokens swings with significant volatility, a burn program is presently in place, as of October 2022. Every month, 1% of the token supply is burnt, which is aimed at increasing the token’s value.

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Lucky Block tokenomics

Lucky Block issues two distinct token kinds; V1 and V2.

  • V1: The Lucky Block native token that enables quick payments to players, prizes from gaming pools and no transaction costs when used to buy in-game tickets. The developers released a software update to impose the 12% tax on LBLOCK token sales. The tax is meant to incentivise long-term investments, discourage day trading, and finance the lottery prize pool. According to CoinMarketCap, the total quantity of LBLOCK V1 tokens is capped at 100 billion. There are currently 40.77 billion tokens in circulation. LBLOCK V1 was trading at $0.0002026 on 28 October and had a market capitalisation of $8.26m.

  • V2: an ERC-20 token designed for users who want to hold LBLOCK only on centralised exchanges (CEX). As V2 is based on the ERC-20 standard, transactions are tax-free, making it a superior alternative for trading. In addition, V2 holders do not earn game pool awards and cannot be used to buy game tickets. Similarly, LBLOCK V2's total quantity is capped at 3.65 billion tokens. However, there is no information about the circulating supply.

A hard cap is a restriction established by a blockchain's code on the absolute maximum supply of a specific cryptocurrency. A hard cap prohibits the production and circulation of more cryptocurrency units. It is often seen as beneficial as it increases scarcity, boosting individual token's value.

DOGE/USD

0.12 Price
-5.900% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.61 Price
-2.850% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BTC/USD

64,649.30 Price
-1.750% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

ETH/USD

3,116.46 Price
-7.110% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Who owns the most lucky block tokens?

According to CoinCarp data, there were 56,312 V1 lucky block holders, as of 28 October, down from 57,004 wallet holders on 27 September.

The top 10 and top 100 holders dominated 67.77% and 69.83% of the LBLOCK supply respectively, making the coin somewhat susceptible to pump-and-dump operations.

Who has the most lucky block tokens? An anonymous wallet held more than 20 billion V1 LBLOCK tokens, equal to 20% of the supply, making it the biggest LBLOCK holder.

Meanwhile, three other anonymous wallets held 19.34%, 13.08%, and 6.66% tokens, making them the second, third, and fourth biggest lucky block holders, taking their combined count to 39.08 billion coins.

The identities of these LBLOCK whales were not available to the public as crypto wallets are anonymous. Depending on the original allocation criteria, these could be LBLOCK investors, employees or developers.

Among other top holders of lucky blocks, PancakeSwap (CAKE), a prominent decentralised exchange (DEX), ranked fifth, with a total supply of over 5.10 billion tokens, amounting to 5.13%.

Moreover, as of 28 October, there were 1,642 V2 lucky block holders, up more than 81% from 904 on 27 September, indicating a significant rise in V2 holders within a month.

The top 10 holders held 74.29% of the LBLOCK supply, while the top 100 holders controlled 87.83% of the tokens.

An anonymous wallet was the largest V2 LBLOCK token holder, with almost 2.45 billion tokens or 36.75% of the total supply.

Meanwhile, cryptocurrency exchanges, including MEXC (MX), Gate.io (GT) and Uniswap (UNI), were the second, third and fourth largest holders, respectively. The exchanges held 1.59 billion tokens in total, or 23.96% of the supply.

The bottom line

Remember, buying Lucky Block is risky. The coin was created so lottery enthusiasts could participate in the decentralised future of gambling. Furthermore, LBLOCK is a novice in the high-risk cryptocurrency world, making it difficult  to evaluate.

While Lucky Block aspires to develop a more sustainable sweepstakes model, the project is in the development phase, as of October 2022. Interested investors and traders should stay up-to-date, reviewing the organisation's whitepaper and road roadmap.

While knowing who owns the most lucky block tokens is important for accessing the project’s tokenonomics and ownership concentration, you should always conduct your own due diligence. Look at the latest news, technical analysis, and a wide range of analysts’ opinions before making any trading decision. 

Keep in mind that past performance is no guarantee of future returns. And never trade money that you cannot afford to lose.

FAQs

How many lucky block holders are there?

According to CoinCarp data, there were 56,312 LBLOCK (V1) holders and 1,642 LBLOCK (V2) holders, as of 28 October.

Who created Lucky Block?

Lucky Block was created by Scott Ryder, the firm's CEO and former head of sales at Investoo Group.

Is Lucky Block secure?

Lucky Block uses distributed ledger technology (DLT) to increase transparency and security. As there is no "centralised" data repository, blockchains like BSC protect projects against cyberattacks. Therefore, Lucky Block may be considered a secure network.

What makes Lucky Block unique?

Lucky Block delivers a novel spin on conventional lottery and offers incentives for gamers to utilise the play-to-earn platform.

 

Markets in this article

ETH/USD
Ethereum / USD
3116.46 USD
-239.83 -7.110%
CAKE/USD
CAKE/USD
1.9365 USD
-0.0824 -4.160%
UNI/USD
Uniswap / USD
7.19164 USD
-0.3381 -4.490%

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