New cryptocurrency projects continually aim to address the shortcomings of the blockchain generations as the technology evolves. Loopring is the third-gen token designed to improve scalability and interoperability without sacrificing security by combining elements of centralized and decentralized cryptocurrency exchanges. Let’s overview the Loopring technology and predict the LRC coin price.
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Loopring Price Prediction: Is Loopring a Good Investment?
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Table of Contents
Loopring Fundamental Analysis
Project name
Loopring
Stock Symbol
LRC
Current Price
0.252664310192261
Current Supply
1373873397.44246
Launch Date
2017
Official Website
Loopring project was released in June 2017 by Daniel Wang, a software engineer, former Google America tech lead and development director at JD.com. Since then the project has become a decentralized financial system that includes the Loopring protocol, relayer, exchange, an Ethereum mobile smart contract wallet, and the Loopring coin (LRC) itself. The company also plans to launch its own NFT platform in the near future.
Loopring payment protocol is an open source zkRollup protocol that runs on the Ethereum Layer-2 blockchain, which is powered by more advanced technologies that reduce the fees of the Ethereum network, speed up transfers, and increase the security of the crypto assets. The protocol doesn’t allow access, lose or freeze user funds.
Loopring relayer is the backend system, or operator, that interacts with the protocol to make a zkRollup run. It hosts and updates the off-chain Merkle tree, creates rollup blocks, generates zkSNARK proofs of their validity, and publishes data and proofs to Ethereum.
Loopring Layer2 is a non-custodial exchange and a gas-free, high-speed payment platform without intermediaries for trading, swapping, and liquidity providing. It is built on the Loopring protocol and runs by the Loopring relayer. Loopring exchange manages orders in a centralized manner but settles the trades on-chain and combines up to 16 orders into ring trades instead of allowing strictly one-on-one trading pairs. Remarkably, Loopring is the only company that has a patent for a decentralized crypto exchange in the United States.
Loopring coin (LRC) is an ERC-20 native token of the Loopring open protocol, created to build decentralized exchanges. LRC is controlled by the Loopring protocol’s smart contracts, which combine individual transactions into order rings (Loop Order) by organizing public order books and recording trading history, and in some cases also transferring the orders to the other relays. Thus, LRC can be earned via ring mining.
Currently, the LRC token can be used to pay the fees of the Loopring Layer-2 exchange. Commissions paid by Loopring Exchange are distributed on Layer-2 among LRC liquidity providers, insurers, and Loopring DAO, in an 80/10/10 proportion, respectively. The token model rewards LRC holders who use their assets productively for the good of the platform.
Loopring Live Price Chart
LRC started 2022 with a sharp price decline: from the highest point of $1.8429 it fell to $0.7363 by January 23. There was a slight price recovery the next week, and LRC leveled out at the point of around $1. On February 4 the token decreased again to the price of $0.8474, but in a few days it jumped to $1.16. However, since then the Loopring token price fell, and till the middle of March, the coin was trading for $0.7.
On March 20 the Loopring crypto price suddenly climbed to the point of $0.9397 and started a bullish ride of the LRC token. On March 24 the coin reached $1.1738, and on March 30 LRC price peaked at $1.2886.
In April LRC token price gently went down; till the end of the month, it varied between $0.8 and $1.
On May 1 the Loopring price declined to the point of $0.68, then it grew to $0.82, but on May 13 it dropped in price more than twice and reached $0.39. In the second part of May LRC started to show some signs of recovery: by May 26 it hit the price of $0.62 and was around that level till June 10.
By mid-June, the Loopring coin lost much of its value and was traded for approximately $0.4 till the beginning of August.
In the first half of August the LRC price was slightly rising, reaching the point of $0.5. But then it leveled off to $0.37 and was falling below this line for the next two months.
On November 6 LRC price went up to $0.37 again, and even surged for a short while, but later fell down. After that, the Loopring token was sustained at a price of $0.2 till the end of the year. In the first days of January, the price started to rise a little.
Analyzing the Loopring price chart, LRC is very likely to gradually increase in the near future.
Loopring Technical Analysis
Despite the fact that 100% accurate technical analysis for Loopring cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated LRC buy-and-sell rating for selected timeframe. The summary for LRC/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Loopring Price Prediction
Below we have collected the most reliable price projections for Loopring (LRC) from popular forecast platforms.
Loopring Price Prediction for 2023
As for Loopring price predictions for 2023, there are divergent opinions. WalletInvestor expects a downturn towards $0.1238, and PricePrediction.net echoes with ~$0.09349 by the year’s end. Other experts, for example, from TradingBeast, are more enthusiastic about Loopring’s future price, citing upwards of $0.3462 in December.
Potential ROI:
-26%
Sell
Loopring Price Prediction for 2024
In their Loopring price predictions for 2024, WalletInvestor forecasts the coin’s price to go down to $0.2377 by December. Forecasting Loopring future, TradingBeast expects further decrease of its price, too, saying the Loopring price will reach ~$0.01038 by that time. On the contrary, PricePrediction.net keeps predicting Loopring price growth, quoting prices around ~$0.3209 in 2024.
Potential ROI:
-25%
Sell
Loopring Price Prediction for 2025
Loopring price predictions for 2025 are still predominantly positive, with some analysts promising prices in the $0.2662–$0.288 range (WalletInvestor, PricePrediction.net), while TradingBeast takes a different view and cites the possibility of the price reaching $0.008308 in December 2025.
Potential ROI:
-26%
Sell
Loopring Price Prediction for 2026
Both WalletInvestor and TradingBeast doubt that the Loopring market will grow in 2026, predicting the price drop to $0.2503 and $0.0004154 by the end of the year respectively. Other Loopring price forecasts support the idea: PricePrediction.net forecasts Loopring to fall down to $0.005053 by December 2026.
Potential ROI:
-66%
Sell
Loopring Price Prediction for 2030
Most experts are expecting a bleak future for Loopring: long-term Loopring price predictions promise significant decline by 2030. PricePrediction.net predicts the price to reach $0.1112, while WalletInvestor goes down for $0.02252. TradingBeast also puts not so big hopes on Loopring in the long term: its Loopring prediction for 2030 is $0.0003697.
Potential ROI:
-82%
Sell
Summary
As it can be clear from the analysis cited above, Loopring (LRC) projections are rather contradictory. There is no universal consensus either about positive or negative future LRC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Loopring 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).
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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