Loopring Crypto, Protocol Building Decentralized Crypto Exchanges

What is Loopring Crypto?

Loopring is a platform for decentralized finance that offers protocols, infrastructure, and products for the next generation of finance. It aims to provide a fast, cheap, and secure platform for exchanging, swapping, providing liquidity, and making payments while protecting user assets. Loopring uses the first zkRollup protocol on Ethereum, which ensures that exchange and payment applications cannot touch or lose user assets.

Who is Behind the Launch? 

Loopring was created by Daniel Wang, a software engineer from China who worked at internet companies like Google and JD(dot)om. It is a project based on Ethereum that began in June 2017 and has grown into a comprehensive effort across the stack, from protocol to product.

How to Use LRC? 

Users can use Loopring’s decentralized exchange and payment platform by using the Loopring Layer2 App, which is powered by the Loopring protocol and operated by the Loopring relayer. The app offers a fast, free, and safe trading and transfer experience. Users can also use the Loopring Wallet, a smart contract wallet that users control and that has Loopring zkRollup integrated. The wallet lets users swap on the AMM, trade on the books, invest and earn in DeFi, and send payments to anyone, anywhere.

Loopring Crypto Price Overview

As per CoinGecko, Loopring crypto was trading at $0.267043 today and a 24-hour trading volume of $34,034,431.06. This shows a 1.63% price rise in the last 24 hours and a 10.00% price rise in the past 7 days. With 1.2 Billion LRC in circulation, Loopring has a market cap of $332,882,774.

The 24-hour trading volume of Loopring crypto is $34,134,803, which is a 46.80% drop from one day ago and indicates a recent decline in market activity.

The highest price for Loopring crypto is $3.75, which was reached on November 10, 2021 (about 2 years ago). Compared to the current price, this is 92.90% lower.

The lowest price for Loopring crypto is $0.01963893, which was seen on December 18, 2019 (about 4 years ago). Compared to the current price, this is 1,248.70% higher.

The fully diluted valuation (FDV) of Loopring crypto is $366,631,194. This is a theoretical representation of the maximum market cap, assuming the maximum number of 1.4 Billion LRC tokens are in circulation today. It might take several years before FDV is achieved, depending on how the LRC tokens are distributed.

With a price rise of 10.80% in the last 7 days, Loopring crypto is doing better than the global cryptocurrency market which is up 1.70%, but worse than similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

Conclusion

Loopring is a decentralized finance platform that uses zkRollup technology to provide fast, cheap, and secure trading and payment services. Loopring was founded by Daniel Wang, a former Google and JD(dot)com engineer, and is based on Ethereum. Loopring has its own token, LRC, which has multiple use cases and a fixed supply. Loopring’s price has increased recently, but it is still far from its all-time high. Loopring has a large market cap and a high fully diluted valuation, which reflect its potential for growth.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.