Loom Price Prediction: Will LOOM Coin Go Up?

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What Is the Loom Price Prediction Today

AT A GLANCE

  • In 2024, Loom price is expected to reach $0.1516600240354719, according to some experts
  • 2025 promises to be turbulent, with prices ranging from $0.115 to $0.2616237336671054, with PricePrediction.net predicting a breakthrough leading to a price rise to $0.2616237336671054
  • By 2030, LOOM price can hit $0.1516600240354719

Loom Fundamental Analysis

Project name
Loom
Stock Symbol
LOOM
Current Price
0.1019220591636236
Current Supply
1300000000
Official Website

The Loom Network is a blockchain platform designed to provide solutions for building decentralized applications (dApps) and games. It aims to address some of the scalability and performance issues associated with existing blockchains, particularly Ethereum. 

Loom aspires to be the comprehensive, all-in-one platform that empowers both smart contract developers and traditional developers to craft their applications seamlessly, without the need to switch programming languages or engage in manual server management. Additionally, it offers the significant advantage of effortless integration of their applications with the external world, akin to a Blockchain-aware and Blockchain-ready AWS (Amazon Web Services).

The Loom Network was co-founded by James Duffy, Matthew Campbell, and Luke Zhang. James Duffy primarily served as the company's Chief Technology Officer (CTO). He mainly participated in the technical development of the platform. Before co-founding Loom Network, he had a background in software development. Luke Zhang is another co-founder and the Chief Design Officer at Loom Network. He is responsible for the design and user experience aspects of the platform.

The founders recognized that the demand for blockchain-based decentralized applications (DApps) and games was growing, but the existing infrastructure couldn't efficiently support the high-speed, low-cost transactions needed for these applications. This led them to create a solution based on sidechains, allowing DApps to be built on scalable, high-performance chains connected to the Ethereum mainnet.

Loom Network offers a solution to the scalability problem that many blockchain platforms, including Ethereum. It introduced the concept of sidechains, which are separate chains linked to the Ethereum mainnet, designed to handle specific DApps or use cases. This allowed for faster and more cost-effective transactions and smart contract execution.

One of the main goals of the Loom Network is to make it easier for developers to create DApps. They provided tools and resources to simplify the development process, including their own software development kit (SDK) and a dedicated blockchain for DApps. Loom Network also offers tools for building smart contracts, connecting DApps to the Loom Network, and creating user-friendly interfaces.

Loom Network supports interoperability with other blockchains, enabling DApps to connect and interact with different blockchain ecosystems. The LOOM token is the native cryptocurrency of the Loom Network. It is used for various purposes within the network, including staking and paying transaction fees.

Loom Network primarily targets applications in the gaming and social networking spaces. The sidechains approach made it possible to create DApps with high-speed transactions, which was particularly important for gaming applications.

The project has its own implementation of a Plasma sidechain, which is a technique for achieving scalability while still benefiting from the security of a parent blockchain (in this case, Ethereum).

The Loom Network is secured through a protocol called zkLoom, which makes its blockchains work efficiently. Ethereum, one of the most popular open-source blockchain networks for smart contracts, supports this and is backed by the second-largest cryptocurrency. With zkLoom blockchains, users don't have to rely on validators because they're secured through Ethereum. By using Ethereum for security, zkLoom blockchains work securely with a small number of validators, making it easier and more cost-effective to start and maintain new networks.

The Loom Network introduced the concept of "crypto zombies," a gamified educational platform for learning blockchain development. It is a unique way to explain to the users the world of blockchain and smart contract development.

The LOOM token serves as a membership key, received by every member for access to all the applications operating on the Loom Network. The token operates across all DAppChains within the Loom Network, enabling the seamless transfer of digital assets and data between Ethereum and Loom DAppChains.

The total supply of the LOOM tokens is 1,300,000,000 LOOM and as of October 18, 2023, the circulating supply is 1,219,425,698 LOOM. 

Loom Live Price Chart

In the middle of June 2023, the LOOM price chart was at around 0.036 and then it was growing slightly reaching the point of $0.042 by June 23. The LOOM price chart stayed rather stable till the beginning of July, most of the time trading between $0.041 and $0.042. On July 15 the LOOM price chart jumped up to $0.062, but in just a few days the LOOM price chart returned to the level of 0.046-0.047 and stayed trading at this price till the middle of August. 

In 3 days between August 15 and August 18 the LOOM price dropped to the level of 0.038 and stayed bouncing around the same level till the beginning of September, fluctuating within 0.038-0.037 all this time. From September 10 the LOOM price chart started behaving differently and finally showed signs of an uptrend. By September 18 the value of LOOM reached $0.048 and started bullying. 

The new milestone the LOOM price achieved on September 22 when to swap LOOM traders paid already $0.106. A week later the LOOM price chart reached an even higher point of $0.132 and then went for a price correction. After going down to $0.122 on October 5 the price of LOOM boomed, skyrocketing to $0.34 by October 16. But just 2 days later the price of the LOOM Network native token dropped to $0.17.

Loom Technical Analysis

Loom is currently positioned at an RSI of 73, even in the face of a notable sell-off. This RSI reading falls within the overbought zone, potentially showing additional downward momentum when correlated with other technical signals.

At the same time, the price has dropped below its average weekly trading range, signifying a possibility for an upcoming downward trend. Considering the overall bearish mood in the market, a decreasing community of developers, and the fact that various technical indicators are all pointing towards a possible ongoing decline, Loom currently seems to be under a high level of risk of losing even more value in the near future.

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Loom Price Prediction

Below we have collected the most reliable price projections for Loom (LOOM) from popular forecast platforms.

Loom Price Predictions Summary

Year
Average Price
Avg. Price / Pot. ROI
Potential ROI
2024
$0.09538378
21%
21%
2025
$0.14909818
75%
75%
2026
$0.11675863
79%
79%
2027
$0.24726329
114%
114%
2030
$0.17336936
36%
36%

Loom Price Prediction for 2024

As for Loom price predictions for 2024, there are divergent opinions. PricePrediction.net expects an upturn towards $0.1264, and WalletInvestor echoes with ~$0.16 by the year’s end. Other experts, for example, from TradingBeast, are more pessimistic about Loom’s future price, citing numbers downwards of $0.08358 in December.
Potential ROI: 21% Buy

Loom Price Prediction for 2025

According to PricePrediction.net, in 2025 Loom investors should expect price growth to $0.1967, which seems a good reason to consider Loom as an investment option. TradingBeast, in turn, predicts the price increasing to $0.1468, and WalletInvestor agrees with a predicted growth to $0.191.
Potential ROI: 75% Buy

Loom Price Prediction for 2026

The experts are unanimous in their Loom price forecasts for 2026 — everybody expects Loom’s price to grow by the end of that year. TradingBeast predicts the price growth reaching $0.1407. According to WalletInvestor’s research, Loom’s price can go up to $0.253. PricePrediction.net’s forecast is also positive: its analysts hold the view that by 2024 Loom’s price will be about $0.1529.
Potential ROI: 79% Buy

Loom Price Prediction for 2027

Both TradingBeast and WalletInvestor predict the Loom market to grow in 2027, resulting in $0.1274 and $0.325 by the end of the year respectively. Other Loom price forecasts support the idea: PricePrediction.net forecasts Loom to reach $0.2028 by December 2027.
Potential ROI: 114% Buy

Loom Price Prediction for 2030

Speaking of long-term Loom price predictions for 2030, experts present two polar opinions. TradingBeast expresses the view that Loom price won’t grow further and, opposedly, will decline to $0.03363. PricePrediction.net’s price prediction for Loom echoes with the projection of a downtrend to $0.03058. Despite this, WalletInvestor’s vision remains positive, promising growth up to $0.351.
Potential ROI: 36% Buy

Author

June Katz
June Katz is a writer who is really interested in finance, trading, blockchain, and tech. As a SwapSpace author, she enjoys making content about crypto and other related topics.

Summary

As it can be clear from the analysis cited above, Loom (LOOM) projections are rather contradictory. There is no universal consensus either about positive or negative future LOOM price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Loom projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
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Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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