Lucky Block (LBLOCK) has made good on its promise to solve the persistent issue of defunct support for taxation when depositing funds from decentralized exchanges to centralized ones.
The cryptocurrency lottery platform announced that it now can reveal the exact outline of the changes, representing a significant level of improvement to the platform’s design.
To achieve its taxation solution, Lucky Block will have two kinds of tokens merged by a bridge, which should sustain price parity between both versions of the tokens without altering the circulating supply.
That said, both tokens are:
V1 LBLOCK token, which is a decentralized exchange token that allows holders to participate in the network lottery, get rewards, and is subject to tax on sales.
This token class is the original Bianace Smart Chain-Based (BEP20) version and remains unchanged. As mentioned earlier, the 12% mandatory tax on sales remains for this LBLOCK version.
V2 LBLOCK token, which is a centralized exchange token that allows for day trading without taxation but excludes holders from the lottery.
This token class is an Ethereum-based (ERC20) version of the token and will be issued to investors or traders looking to hold LBLOCK on centralized exchanges. This token version is optimized specifically for day trading.
In summary, those interested in earning rewards and partaking in the lottery should hold V1, while those only interested in asset speculation should go for V2.
Key Lucky Block Levels to Watch — March 18
LBLOCK has recorded a goodish bounce from its recent drop to the $0.0035 support, creating a fine bullish trendline. This means that a moving floor has been developed for the cryptocurrency with, $0.0035 serving as the immediate support.
Interestingly, other bullish indicators have emerged on my hourly chart, as the MACD shows an imminent near-term bullish spike and my moving averages show a cross, indicating a change in market trend. That said, we should see a bullish continuation to the $0.0040 – $0.0042 area over the weekend when volatility is usually higher.
Meanwhile, my resistance levels are at $0.0040, $0.0045, and $0.0050, and my support levels are at $0.0035, $0.0030, and $0.0025.
Total Market Capitalization: $1.83 trillion
Lucky Block Market Capitalization: $385 million
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