Loopring is an automated exchange platform that can make the activity of trading much simpler for investors. This is because the platform trades across cryptocurrency exchanges while making transactions more secure and cheaper. You will read here our take on the Loopring Price Prediction.
Loopring can support public blockchains that utilize Ethereum tokens. The uniqueness of Loopring lies in the ability of the platform to pool the liquidity of multiple cryptocurrency platforms. This means that future Loopring news could be about a complete restructuring of our financial system.
Loopring had a successful ICO in August 2017 with a Loopring ICO price of 0.0600 USD for LRC tokens. The Loopring ICO price proved reasonable and raised $45 million; enough to jump start the coin.
Loopring is uniquely placed to transform the trading world.Let’s use a practical example for this. Suppose you are an investor wishing to buy some Apple stock. This activity would be a simple and efficient task if you could check every exchange simultaneously and find the best exchange for the same.
This is exactly the utility Loopring brings the crypto sphere. How come? Loopring can automatically check multiple exchanges for varying prices when you wish to trade. This means that you can get the most competitive prices anywhere and Loopring will execute the purchase for you. Similarly, you can split up a trade and have a multi-exchange purchase simultaneously.
This functionality is yet to be fully appreciated. What it means is that Loopring will significantly improve liquidity over existing exchanges. Loopring is also very secure since tokens don’t leave the blockchain unless the order is submitted. This is in contrast with normal exchanges where you toss your tokens in potentially dangerous transactions when making exchanges. Hackers and scammers are real threats who make the conventional open orders risky as the can take a few hours to be processed.
Loopring is different. Smart contracts execute these orders. This means that Loopring works with all ERC 20 token. The Loopring team has indicated plans to expand to all blockchains eventually.
Loopring Price Prediction
It goes without saying that in general, making pinpoint cryptocurrency price predictions is an arduous task and Loopring price prediction is no exception. At the time of writing, the price of Loopring was about $ 0.096. This is based on a circulating supply of $574 million LRC out of a total of 1.3 Billion. Unsurprisingly, Loopring took a toll from the bear market through much of crypto-sphere losing value gradually since the beginning of 2018. The prices in January peaked close to $2 when the coin markets were roaring generally. Since than Loopring news on price has almost been consistently negative.
Going forward, it is highly unlikely that Loopring will cross the $0.5 USD mark, let alone one dollar. As a matter of fact, the short-term realistic projections don’t look too far in the North. However, Loopring news to the contrary can give the coin price a much-needed boost.
Moreover, the high amount of tokens in circulation dampens prices even further. As such, the Loopring price prediction is moderately optimistic at best with the bearish conditions still looming large.
From the aforementioned, the likelihood of meaningful profitability, in the short-term, from Loopring is unlikely. Unless you have informed conviction to the contrary, it is best to sit-out for now until the market adopts the stated advantages.