The Loopring (LRC) token has been gaining traction in recent days.
What is Loopring (LRC) token?
Loopring is an open protocol designed to create decentralized crypto tokens. Loopring or LRC is an Ethereum-based token.
In 2020, the average daily trading volume vacillated in the range of US$50 million to US$200 million. Most of the transactions were done on centralized crypto exchanges.
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But the centralized exchanges had drawbacks compared with decentralized platforms, which may still have certain limitations.
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Loopring aims to make a hybrid product, combining the best features of both the blockchain platforms for order settlement. Interested buyers can purchase the token on exchanges like Coinbase Pro, Binance, OKEx, etc.
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Data provided by: coinmarketcap.com
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Who founded Loopring?
Shanghai-based software engineer and entrepreneur, Daniel Wang, founded the Loopring Foundation that manages the Loopring protocol.
In August 2017, the LRC token went public in an initial coin offering (ICO). However, the Loopring Protocol was first deployed in Dec 2019.
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LRC token Price
The LRC token was priced at US$2.27 at 9:43 am ET on Dec 23, down 1.22%.
It has a market cap of US$3.01 billion, and its fully diluted market cap is US$3.11 billion. Its trading volume in the last 24 hours was US$315.78 million.
The token’s 52-week highest and lowest prices were US$3.83 and US$0.132, respectively.
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The current global crypto market is about US$2.28 trillion, according to CoinMarketCap. The LRC token gave a return of 1195.08% YTD. Investors, however, should evaluate the market carefully before investing in digital assets.