- What is Loopring (LRC)?
- History of Loopring (LRC)
- How are new LRC tokens created?
- Loopring (LRC) Technical Analysis
- Loopring Price Predictions: 2022-2026
- Loopring Price Prediction 2022
- LRC Price Prediction 2023
- Loopring Price Prediction 2024
- Loopring Price Prediction 2025
- Loopring Price Prediction 2026
- Buy Loopring
The Loopring price today is near to all-time highs. The historical data of Loopring show that the expected maximum price rise of this magnitude was not expected. The Loopring price today confirms that standing at $1.84. But is it a good time to buy or sell Loopring? Will Loopring be a good investment?
Let’s find out by looking at the market analysis, future LRC price predictions, resistance and support level, and other forecasts.
|Price Change 24H||-8.67%|
|Price Change 7D||-20.58%|
|Market Cap||$ 1,335,262,459|
|Circulating Supply||1,245,991,469 LRC|
|Trading Volume||$ 210,599,370|
|All Time High||$3.83|
|All Time Low||$0.01986|
What is Loopring (LRC)?
For the beginning, Loopring (LRC) is an open protocol developed to focus on building decentralized crypto exchanges. Besides, the protocol allows users to create a non-custodial, order book-based exchange on the Ethereum network using zero-knowledge proofs (ZKPs). With the non-custodial exchange, users have control over the private keys in order to keep the crypto and funds secured.
Loopring is said to be an emerging protocol of DeFi that uses multiple virtual currencies, including LRC, its own native utility token. The protocol aims to encourage a global network of users to operate a platform that is known to facilitate the development and production of new forms of crypto-asset exchanges.
With the use of Zero-knowledge rollups or zk-rollups, Loopring claims its exchanges can provide faster settlement for traders. Zk-rollups is a Layer 2 scalability solution that facilitates blockchains to validate transactions faster while keeping gas prices low.
Using cryptography (zk-rollups), the Loopring platform allows exchanges to build on top of it to avoid the poor speeds and high costs associated with decentralized exchanges on Ethereum.
Thus, zero-knowledge rollups enable Loopring exchanges to execute crucial computations elsewhere instead of directly completing them on the Ethereum blockchain. The idea is that by lowering the number of transactions that a Loopring exchange must submit to the Ethereum network, traders will benefit from increased speed and lower costs.
On the other hand, other decentralized exchanges require transactions to be confirmed on the Ethereum network in minutes rather than seconds or milliseconds. Hence, this is a significant advantage offered by Loopring over other decentralized exchanges.
Hence, Loopring’s main value proposition is the leading-edge cryptography it incorporates on its platform. Some advocates believe zk-rollups to be promising enough as they utilize a well-known form of cryptography called zero-knowledge proofs (ZKP). ZKP allows a computer program to make a claim about data instead of actually revealing the data. For example, a zero-knowledge proof could allow a government entity to verify that the user is of a legal age to access a particular website without disclosing the actual birthdate.
History of Loopring (LRC)
Loopring foundation that manages the development of Loopring protocol was founded by a software engineer and entrepreneur named Daniel Wang. Wang is from Shanghai (China), and he is the founder and current CEO of the foundation.
Wang completed his bachelor’s in computer science from the University of Science and Technology of China. Besides, he completed his master’s degree in computer science from Arizona State University.
Wang has worked at various managerial and senior positions in big tech businesses before joining Loopring. Wang was a lead software engineer at Boston Scientific, a medical device manufacturer. Moreover, he has also remained senior director of engineering, search, recommendation, and ad system at JD.com, a Chinese e-commerce giant. All the more, Wang worked as a senior software engineer and a tech lead at Google.
Wang is also the co-founder of several organizations, including Yunrang (Beijing) Information Technology Ltd and Coinport Technology Ltd., a cryptocurrency services firm.
Currently, as of December 2, 2021, the price of LRC is marked above $2.65. Also, the all-time high LRC price was recorded at $3.83 on November 10, 2021. On the contrary, the all-time low/minimum price of LRC was recorded at $0.01986 on December 18, 2019.
How are new LRC tokens created?
LRC can be staked in the following possible ways:
- Anybody can stake LRC to get a share of protocol fees. Around 70% of the fee is divided among users who stake LRC. Further, 20% is assigned to the Loopring DAO (Decentralized Autonomous Organization), and the remaining 10% fees are burned.
- Anyone willing to run a decentralized exchange on Loopring needs to lock up at least 250,000 LRC tokens. This will allow the operator to run an exchange using on-chain data proofs. Without this feature, an operator may have to stake 1 million tokens to run an exchange.
Loopring (LRC) Technical Analysis
The analysis is unbiased Loopring price rally observations, and the indicators used can be modified to change the investing needs of the trader’s own trading style. The analysis used here uses volatility and trend style. Although this is not a trading style, this method is usually used for swing trading. The time frame used for this analysis is one year. The simple moving average of 50 days was used, in combination with Bollinger bands, the accumulation/distribution indicator, which can find the accumulation of the general market in the asset over a long period, the RSI indicator, or the relative strength indicator. Other than this, traders can incorporate resistance and support levels to supplement their trading needs.
The LRC price spike observed a few days ago shot the price multi-folds, sending the price valuations to the sky. For most of the year, the price stayed relatively near the 50-day simple moving average. Although the Accumulation/Distribution indicator signals 3 major volume actions signaling huge accumulation throughout the year, none of them were significant, such as the current price rise. The first accumulation occurred in January 2021. The second time huge volume price action was seen in August end, and the third accumulation happened at the beginning of November. The current prices are way above the 50-day simple moving average, and no proper resistance level is established.
As seen in the above chart, the Bollinger bands created huge volatility bands at the beginning of this year and now. Both times, the huge volatility resulted in the RSI indicator exploding up with the overbought condition. In January, the first Loopring price spike sent the price up on high volatility, and the price up trended for the next 2 months till March. The cryptocurrency market continued to trend sideways, and from May, the price began to downtrend. The next uptrend started in the latter half of July, and with a consolidation base of almost 2 months, the price shot upwards to the new highs, forging new all-time highs and raising the price of Loopring token LRC.
Loopring Price Predictions: 2022-2026
We have used predictive data modeling algorithms to forecast the future price-specific predictions for the LRC coins over the period of the next five years. However, using historical values to predict the future value of a coin is not the correct indication of where the prices will be; the results are more of an opinion and should be used as a tool to help you make better investment decisions.
Investors must know their risk tolerance and how they want to enter the financial markets to invest. As cryptocurrencies are subject to market risks and highly volatile, there is no guarantee of the future.
These are the Loopring price predictions that we have come up with. This is not financial advice in any manner.
Loopring Price Prediction 2022
As per the price predictions, the LRC price forecast is predicted to reach a minimum price level of $4.23. The LRC price can reach a maximum price level of $5.66. The average Loopring price throughout the year will be around $4.76 as per the Loopring price prediction.
LRC Price Prediction 2023
The price of Loopring cryptocurrency forecast today is predicted to reach a minimum price of $5.2, with an expected maximum price of $7 in the year 2023. The average Loopring price throughout the year is expected to be near $6.5 as per our Loopring price forecast.
Loopring Price Prediction 2024
As per the Loopring price forecast system and technical analysis, the minimum price level of Loopring will be around $7. The maximum price Loopring forecast will be $9, with an average Loopring price of around $8.2 throughout 2024 based on the Loopring forecast.
Loopring Price Prediction 2025
According to the technical analysis and Loopring price forecasts, the minimum price of Loopring LRC will be $7.9, and the maximum price level will be $9.6. The average Loopring price of the coins will be $9 in 2025 as per our Loopring price forecast.
Loopring Price Prediction 2026
The data forecast models show that the minimum price of LRC is expected to be $9.5. The maximum price will be $10.5 while maintaining the average price of $9.8 in the year 2026 as per our Loopring price forecast.
Frequently Asked Questions (FAQs)
Where can I buy Loopring (LRC)?
Loopring LRC is available on many crypto exchanges. Based on the liquidity and reputation, you can buy LRC from Binance, OKEx, Bilaxy, and Coinbase Pro. These purchases can be made with fiat currencies or other cryptocurrencies. However, before you buy Loopring, research well about the Loopring forecast and its future minimum price, maximum price as well as average price.
Is Loopring a good investment?
The prospect of Loopring being a good long-term investment is fine, but the current support levels have not been established. That said, the current price development has shot up the price of LRC by huge margins. The possible price development can go in either direction since the RSI indicator has signaled the overbought condition, so it would be wise to use swing strategies for traders. From an investment standpoint, it will be a profitable investment for years to come as per our Loopring price prediction. However, only believe in investment advice or trading advice from reputed sources.
How many LRC tokens are there?
Loopring has a maximum supply of 1,374,513,896 LRC coins. The circulating supply is 1,373,873,440 digital coins, with the market cap being $3,569,626,648.
How secure is Loopring?
Loopring is operable on Ethereum and Neo blockchains. The tokens are secured with hash functions of the underlying blockchain technologies such as SHA256 and RIPEMD160. From a technical point of view, Loopring is very safe without sacrificing reliability.
What is Loopring price prediction 2030?
The Loopring price prediction and technical analysis suggest that the Loopring price will reach an average trading price of $50. The LRC coin’s expected maximum price and minimum price levels will be $65.71 and $45.8, respectively as per our Loopring price prediction.