With 24 hours, the price of Loopring is surging well to $2.91 from $2.68. Although, the day’s highest price was at $3.17, resulting in an 18% growth on a trading volume of $611,869,401.76. For those new to the Loopring blockchain platform, this is an open-source protocol created on Ethereum to allow decentralized application developers (DApps) to create decentralized crypto exchanges. Moreover, during the month, the cryptocurrency is outperformed well by 612%, while the low value was $0.5374. It’s important to remember that the LRC coin is developed on Ethereum and might also be stored in most ETH-compatible wallets.
In addition, Loopring is a Layer 2 protocol for Ethereum. Loopring also plans to launch its own “dummy wallets” that will allow you to move funds between Layer 1 and Layer 2 with a minimum commission. Also, Loopring uses a scaling solution called “Zkrollups,” combining many transactions offline before sending them to the Ethereum network as a single transaction. Unlike most other cryptocurrency exchanges, if anything happens to Loopring, your funds are always safe and can be withdrawn back to Ethereum, even if Loopring does not exist. This is what makes Looping so valuable. Loopring (LRC) is one of the bullish cryptocurrencies out there right now.