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LRC

Loopring (LRC) Price Index

$ 0.259014 Ƀ 0.00000499
  • MarketCap
    $ 321,778,914
  • Volume
    $ 24,502,188
  • Change
    4.38%
loopringLoopring
$ 0.259014
$ 0.259014
4.38%
0,239511
LRC
Loopring (LRC)
$ 0.259014
LRC
Loopring (LRC)

Overview: What is Loopring (LRC)?

Loopring (LRC) is the native token of the Ethereum Layer-2 scaling protocol Loopring, which enables the creation of DeFi projects and decentralized non-custodial exchanges, processing transactions faster than Ethereum.

 

Loopring was founded by ex-Google software engineer Daniel Wang and launched via a 2017 initial coin offering (ICO) that raised the equivalent of $45 million.

 

What Makes Loopring (LRC) Token Unique?

Due to changes in China’s ICO regulations, Loopring returned around 80% of the ICO funding to investors; the rest went into developing the Loopring protocol.

 

Loopring is open-source and audited. It allows the decentralized exchanges built on its network to avoid the high costs and slow speeds of building directly on Ethereum, and it can complete over 2,000 trades per second.

 

The protocol uses layer-2 zero-knowledge rollups, or zkRollups, which allow exchanges to process a bundle of transactions off-chain before submitting them to Ethereum as a single transaction. Other exchanges require all their transactions to be confirmed by the Ethereum blockchain as they happen.

 

What Is Loopring  Used for?

Loopring (LRC) has multiple uses. Building an exchange on Loopring requires a lock-up of at least 250,000 LRC tokens if the exchange uses Loopring’s on-chain data proofs. A lock-up of 1 million LRC is needed to run an exchange that doesn’t use this feature. Poorly operated exchanges risk losing their lock-up investment.

 

Holders can also stake LRC in return for a portion of the trading fees that the protocol earns. 70% of trading fees go to staking rewards, and 20% go to the Loopring DAO, creating a pool of funds. The last 10% of fees are burned, decreasing LRC supply to maintain its value over time.

 

The Loopring (LRC) token is also bought and sold by investors and traders on cryptocurrency exchanges.

 

How Does Loopring (LRC) Work?

Using zkRollups, exchange transactions are made when users send funds to a smart contract on the protocol. Loopring processes the transaction off the Ethereum blockchain but finalizes trades on Ethereum in batches to reduce costs and increase speeds. The transactions are added to the Ethereum blockchain using the zero-knowledge proofs.

 

The Loopring exchange also uses “order rings” to mix and match multiple trade orders in a circular trading system that contains up to 16 orders. This means the exchange can fulfil orders without an opposing order for a trading pair. This contrasts with other exchanges where a buy order must be matched to a sell order in the same pair to complete the transaction.

 

Developers can build payment applications, NFT marketplaces, and decentralized exchanges.

 

How Is the Price of Loopring Determined?

The LRC price is influenced by its supply and demand and the performance of the protocol, as well as other market factors. A maximum supply of 1.375 billion LRC tokens is burned over time to reduce supply.

The following factors influence LRC price:

 

  • Supply, demand, liquidity, and scarcity
  • LRC deflation
  • Market sentiment
  • The use of the Loopring exchange and Layer-2 platform
  • Loopring competitors’ performance

 

What Is the Loopring (LRC) price prediction for 2030?

The future performance of cryptocurrencies is almost impossible to predict, but there are numerous LRC price predictions.

 

For 2030, CoinCodex expects the LRC price to trade between $0.09 and $0.25. Binance believes the token could achieve as high as $0.40 in 2030.

 

How Is the Loopring Network Secured?

Although Loopring processes transactions off-chain for faster and cheaper transactions using secure zkRollups, these transactions are eventually finalized and secured with the Ethereum blockchain in batches. The LRC token is an Ethereum ERC-20 token.

 

Where Can You Buy Loopring (LRC)?

LRC can be bought and sold on the Loopring exchange and other major cryptocurrency exchanges, including Coinbase, Binance, KuCoin, Kraken, OKX, and HTX. It’s also available on the Uniswap decentralized exchange.

 

How Can You Store Loopring (LRC)?

LRC coins can be stored in an exchange wallet, a compatible hot wallet such as a Trust Wallet, or a hardware wallet such as a Ledger device.

 

FAQ

Is Loopring token worth buying?

The Loopring (LRC) token can be bought for its utility on the platform and for staking or investing. Investors will decide if an LRC token is a good investment based on thorough research, their individual investment strategy, and risk tolerance. When buying any cryptocurrency, it is important to bear in mind that they are unregulated and incredibly volatile.

 

Can Loopring price go up?

The Loopring (LRC) price can go up or down depending on market sentiment and other factors like cryptocurrency adoption and regulation and how the Loopring protocol performs.

 

Is Loopring safe?

The Loopring protocol is designed to be secure and takes security from the Ethereum blockchain when finalizing transactions. Loopring has a reputation for being safe and reliable, but it hit the news in November 2023 when its X account was hacked.

 

Why use Loopring?

Cryptocurrency users and decentralized exchange builders may choose Loopring for its promised speed and low transaction costs.

 

How many people use Loopring?

The Loopring exchange sees around $350,000 in value traded every day, and the platform has several other applications, including a Layer-2 protocol that hosts decentralized exchanges, payment apps, and NFT marketplaces. It is impossible for anyone outside Loopring to make an informed estimate beyond this data.

 

What is the Loopring price prediction for 2025?

The future performance of cryptocurrencies is almost impossible to predict, but there are many LRC price predictions. For 2025, CoinCodex expects the LRC price to trade between $0.28 and $0.88. Binance believes the token could achieve as high as $0.36 in 2025.

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