Loopring (LRC) Suddenly Jumps 25%, What's Stirring Growth?

In what appears to be stiff competition among Ethereum-based Layer 2 protocols, Loopring (LRC) has inked sudden sharp growth of 25% to join one of the top-performing altcoins in today's market revival. For Loopring, the 24-hour high of $0.4525 has repositioned it on a very bullish path that it is now looking to sustain.

Timeline of Loopring

Loopring's LRC/USD was trading at $0.3677 at press time (5 April 2023), after hiking by 4.5% in the last 24 hours. The crypto-market seemed to be exhibiting bullish sentiment as Ethereum broke past the $1,840-resistance to reach $1,900 and as Bitcoin attempts to climb above $29,200 again.

The crypto verse has seen dramatic publicity over the past two years with a swift move. The perpetual evolution of the space had roused the launch of Loopring. The platform intends to resolve the glitches with regard to centralized and decentralized exchanges.

The last 24 hours saw a surging performance by leading layer 2 zkRollup protocol's native token, Loopring [LRC]. Data from cryptocurrency social analytics platform LunarCrush revealed that the asset's price rallied astronomically by 52%.

SPONSORED POST* The crypto market has been experiencing a large influx of new tokens. Most of these tokens are experiencing a significant rise in value over time. Those looking to invest for the long term may wish to take advantage of this increase in pricing, as they appear to provide significant profits, particularly for altcoins.

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The price of LoopRing (LRC) has shown no sign of relief bounce against Tether as it continues to range in its low region. Despite relief bounces shown by other cryptocurrencies across the market, some producing double-digit gains, LoopRing price continued to look dormant.

Whether you're a casual investor or a Wall Street hotshot, you've probably heard the phrase “don't feed the bear.” The basic idea is that when the market is struggling and down on its luck, it's best not to give it any more money. Just let it starve until it figures things out. But what if …

Loopring [LRC], the zkRollup layer2 on Ethereum [ETH], which intends on making the blockchain more accessible, continues to push its development. However, on the investor front, this network doesn't seem to be making any strides.

Loopring LRC/USD has collapsed from $0.60 to $0.33 since the beginning of this month, and the current price stands at $0.37. The risk of another decline still persists, but the current price could be a good entry point for long-term investors. Payment protocol Loopring is an open-sourced non-custodial exchange and payment protocol that allows low-cost The post Is Loopring (LRC) buy opportunity after the recent sell-off? appeared first on Invezz.

Loopring, the poster boy of scalable Ethereum-based solutions is having a tough time of late. Back towards the end of ‘Uptober‘ 2021, LRC had rallied just shy of 1000% in a matter of two weeks.