Loopring price has seen a clear breakout, with the native token (LRC) registering enormous gains of 45% in 24 hours
Loopring (LRC) has risen by 45% in price in the past 24 hours and is currently trading at $0.51 at the time of writing. Tokens that seek to provide innovative solutions for decentralised exchanges (DEX) have seen a fresh burst of activity with many new tokens being launched in this space. Mango markets (MNGO) token was the latest addition in this sector that was launched recently.
Loopring falls in the same category and it is not surprising to see it bounce back sharply and the LRC price rally doesn’t seem to be ending anytime soon.
How & where to buy Loopring in the UK and elsewhere
In order to buy the token, you will need to open an account on an exchange/broker site. Once the account is verified, you can easily deposit funds in the form of fiat or crypto and start your investment journey.
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What is Loopring and why is it on a bull run?
Cryptocurrency trades are carried out largely on centralised platforms. While DEX exchanges excel at guaranteeing anonymity, they also sacrifice security and are difficult to use for an amateur user. Loopring was invented to provide the best of both worlds. Think of it as a hybrid protocol providing the low fees and fast transactions of decentralised exchanges but maintaining the liquidity and order book matching from centralised platforms.
As the cryptocurrency market matures, such systems will be in high demand as it is easier to list new tokens on such DEX sites. This explains why the token has rediscovered fresh highs and this rally may continue till the token stabilises near the region of $1.
Should I buy LRC today?
Loopring has had a clear breakout and the price is rallying strongly. It provides a good opportunity to hitch a ride on the LRC juggernaut and surf the crypto boom. Below is the weekly chart for LRC that shows healthy consolidation before the price rally.
Loopring weekly chart. Source: CoinMarketCap
The all-time high of LRC is at $2.40. A revisit to such high levels could be on the cards and the price could establish higher highs if the rally continues and early investors could gain handsome returns.
This article is informational only—none of the contents should be construed as financial or investment advice.