Loopring Wobbles In Last 2 Months – Can LRC Stay In The Loop?
The Loopring (LRC) price has entered a symmetrical triangle pattern on the daily chart in the face of continuous bearish pressure. This indicates that the bulls are retreating, so LRC must attract buyers to achieve a successful breakout. However, a bearish breakthrough is anticipated, and the token price may fall below the important support at $0.30. Loopring is trading at $0.37 as of this writing, a decrease of 4% over the last seven days, according to statistics provided by Coingecko on Wednesday. The whole crypto market began the year on a positive note. However, by the end of January,....
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Loopring was trading by over 42% on Wednesday, overtaking QNT as the world’s 65th largest crypto in the process. This came as ethereum classic was trading 10.30% higher on the day, taking its one week gain to over 80%.
Loopring (LRC)
On Wednesday, loopring (LRC) rose to its highest level in three months, a move which saw it cement itself as the world’s 65th largest cryptocurrency.
Following a low of $0.8075 on Tuesday, LRC/USD rallied to an intraday high above $1.21 during hump-day.
Today’s move came as LRC has consolidated for the....
After the Celsius Network’s decision last month to freeze all transactions and withdrawals, the whole cryptocurrency market plummeted into a deep and gloomy sinkhole. This week there was some good news, when Celsius paid off its remaining $41.2 million debt to the DeFi protocol MakerDAO. This payment allowed Celsius to release $448 million in collateral. However, it appears that this will be the only positive development from the U.S. crypto lender in the coming days or months. After weeks of conjecture and hearsay, Celsius’s legal counsels have formally informed regulators....
Loopring’s increasing DEX volume and token price show the project is emerging as one of the leading layer-two solutions working to address the high gas fees on the Ethereum network. Cross-chain bridges and layer-two solutions have become an important topic of conversation in recent weeks as protocols compete to offer the best solution to skyrocketing transaction costs on the Ethereum network. While a lot of the focus in decentralized finance (DeFi) has been on the creation of a sprawling multichain ecosystem following the recent emergence of Binance Smart Chain and Avalanche, those who....
On Wednesday, the head of growth at Loopring, Adam Browman, announced that the recently teased Gamestop NFT marketplace has launched its beta version using Loopring’s layer two (L2) technology. Browman says that with Gamestop’s new NFT marketplace leveraging Loopring’s ZK-rollup technology, the platform “inherits Ethereum’s self-custodial security while abstracting away costly gas-fees, leaving no one priced out.”
Gamestop Reveals NFT Market Built With Loopring’s L2 Tech
During the last few months, the video game retail giant....
Steady ecosystem growth and GameStop’s announcement that Loopring will underpin its NFT marketplace resulted in a double-digit gain for LRC price. Filling multiple needs within the cryptocurrency community is one way a project can set itself apart from the competition and new attract users and liquidity to its ecosystem. Loopring aims to do exactly this by aiming to offer a EVM-based solution with low fees where DeFi and NFT developers and investors can transact. The layer-two (L2) scaling solution utilizes zk-Rollups to provide fast, low-cost transactions and the project has been gaining....