Loopring is an open protocol designed for creating decentralized crypto exchanges. As a zero-knowledge rollup over Ethereum mainnet, the platform aims to combine the best aspects of both centralized and decentralized exchanges.
LRC is the ERC20 token of the Loopring protocol. The token plays a crucial role in the ecosystem, facilitating both centralized order-matching exchanges and decentralized on-chain order settlement exchanges.
Loopring was founded by Daniel Wang, a Shanghai-based software engineer and entrepreneur, who now serves as the foundation’s CEO. This article will give you a comprehensive overview of the Loopring protocol and its native token LRC.
I will discuss the notable features of the platform, the economics of the token, the asset’s past performance, and estimated future prices. Before concluding the piece, I will add where and how you can buy the token. Let’s get started right away.
Loopring Key Features
| Hybrid Exchange | Loopring offers centralized order matching for efficiency and on-chain settlement for security. |
| LRC Token | LRC plays a pivotal role in incentivizing users to maintain the integrity of the platform and facilitating transactions within the ecosystem. |
| Zero Knowledge Rollup | Loopring is a zkRollup layer 2 scaling solution, which helps improve block speeds at lower gas fees. |
| Ethereum base | Loopring leverages the security and network effects of Ethereum, allowing users to interact with Loopring with their existing Ethereum wallets. |
| Ethereum based | The project aims to create a global network of liquidity providers and takers and hence improve overall market depth. |
| Non-Custodial Wallets | Users are in control of their funds throughout the trading process, eliminating the need for centralized custody. |
| Gas-efficient: | Aggregating multiple trades into a single transaction, Loopring reduces gas costs. |
| Transparent and Auditable | The platform’s on-chain settlement ensures transparency, allowing users to verify transactions and audit the protocol. |
Loopring (LRC) Tokenomics
LRC tokens were first offered to the public in an initial coin offering (ICO) held in August 2017. However, the Loopring protocol was only deployed on the Ethereum mainnet in December 2019.
The total supply of LRC is 1,373,873,397 and the maximum supply is capped at 1,374,513,896 LRC. At 1,366,649,056 LRC, more than 99% of the supply is already in circulation.
Loopring (LRC) Past Performance
$0.4648, roughly 8% down from yesterday. The token’s market cap stands at 635 million and the 24-hour trading volume is at $3k75 million, up 55% from yesterday.
Loopring (LRC) Price Prediction
Technical analysis of available data indicates that the market sentiment is currently Bullish while the Fear & Greed Index is at 83 signalling Extreme Greed.
Loopring recorded 21 out of the last 30 days in the green territory with price volatility of 20.48%. Our expert team thinks that now is a good time to buy the token.
2024: According to our analysts, the price of Loopring is likely to drop by 7.69% and reach $0.4475 by next week.
2025: Going forward to 2025 LRC price is expected to fall between $0.394058 on the lower end and $0.587106 on the high end. Comparing that with today’s price, that’s a neat gain of 26.92%.
2030: Fast forward to 2030, the Loopring token is expected to fall between $0.3512 and $3.35. Compared to today’s price, this will be a whopping 620.87% gain, if the token hits the upper price target.
Where to Buy Loopring (LRC)?
Thanks to its popularity, you have plenty of options to buy LRC from. Find a few of them below.
How to Buy Loopring (LRC)?
- Visit the Binance website or the Binance app sign up for a free account and complete the verification process.
- Log in to your account and top up your account with funds via credit/debit card or bank transfer.
- Go to the trading section and click ‘buy crypto’. Check payment details and confirm the order within 1 minute at the current price.
- Buy Loopring directly or purchase a stablecoin like USDT first and then use it to buy LRC.
- Once you’ve bought LRC, you can move them to your crypto wallet or hold them in your Binance account.
Conclusion
As a decentralized crypto exchange built over the Ethereum blockchain, LRC offers the best of both worlds of both CEXs and DEXs. Thanks to the recent crypto boom, the token is experiencing large investor interest, thereby unlocking its value. Our technical experts think that LRC has more upside potential.
With that being said, it is important to note that crypto instruments, owing to their still-novel nature, are extremely volatile in the public markets. The reader is cautioned to do their research before plunging into investing in such risky assets. Everyone must refrain from investing in such assets with borrowed money.
