Loopring
Current price
$0.00895
−5.89%24h
LiveUpdated 33s ago
TodayLoopring drops 5.9%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour+0.34%
- 24 hours−5.89%
- 7 days−8.77%
- 30 days−1.10%
- 1 year−87.48%
Loopring's move in context
Lagging the market today
−5.89% today against −3.26% for the market as a whole, a gap of 2.6 points. Small gaps like this are common, so they don't point to anything specific.
Part of a slide
−8.8% over 7 days and −1.1% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Loopring
Overview
Loopring is a decentralized exchange (DEX) protocol designed to facilitate the trading of cryptocurrencies in a secure and efficient manner. Its primary purpose is to provide a platform that enables users to trade assets without giving up control over their private keys. By utilizing zkRollups, a layer-2 scaling solution, Loopring aims to improve the speed and reduce the costs associated with transactions. The core mission of Loopring is to create a truly decentralized financial system where users can trade and manage their digital assets in a trustless and transparent environment. Among its distinguishing features is the ability to execute trades off-chain while maintaining the security of on-chain transactions, combining the best aspects of both approaches.
Technical Features
Loopring operates on the Ethereum blockchain and utilizes a unique zero-knowledge proof protocol known as zkRollups, which allows multiple transactions to be bundled together and processed efficiently. This consensus mechanism helps achieve significantly higher throughput and lower fees compared to traditional on-chain transactions. The security model of Loopring is robust, integrating cryptographic proofs that ensure that trades are valid without revealing the underlying data. The network architecture of Loopring includes a combination of off-chain order management and on-chain settlement, creating a hybrid approach that maximizes efficiency while minimizing costs. Additionally, Loopring utilizes a native utility token, LRC, which is integral to its ecosystem, providing liquidity, enabling governance, and rewarding participants.
Use Cases
Loopring serves various functions within the decentralized finance (DeFi) space. Primarily, it allows users to trade tokens in a secure, decentralized manner, offering an alternative to centralized exchanges. Users engage in liquidity provision through the Loopring protocol, earning rewards for their contributions. Loopring also supports the creation and management of non-fungible tokens (NFTs), allowing creators to mint, trade, and manage their digital assets seamlessly. Furthermore, Loopring's technology facilitates cross-border payments, enabling users to send and receive funds globally with lower fees and faster transaction times. The protocol's smart contract functionality allows for the development of complex financial products and services, thereby expanding its applicability across the DeFi landscape.
Development Background
Loopring was founded in 2017 by Daniel Wang and his team, who envisioned a protocol that could facilitate secure and efficient trading in the burgeoning crypto market. The project has gained notable traction in the blockchain community, supported by significant contributors and organizations, including various venture capital firms specializing in blockchain technology. Since its inception, several key milestones have marked Loopring's journey, including successful protocol upgrades and the launch of its layer-2 solution that has amplified its trade volume. The ongoing development focuses on enhancing user experience and scaling the protocol for even greater transaction capacity.
Community and Ecosystem
The Loopring ecosystem encompasses a vibrant community of developers, users, and advocates. The project fosters active participation through its governance model, allowing LRC token holders to influence decisions related to protocol upgrades and initiatives. Partnerships with various DeFi projects and liquidity providers have strengthened its standing in the ecosystem, enabling greater interoperability. Numerous decentralized applications (dApps) have been built on top of the Loopring protocol, leveraging its unique capabilities to offer innovative trading solutions and services to users.
Future Potential
The future potential of Loopring appears promising, given its innovative technology, diverse use cases, and strong community support. As the demand for decentralized trading solutions continues to rise, Loopring is well-positioned to capture a significant portion of that market. Upcoming developments on its roadmap include enhancements to the user interface, further integration of DeFi services, and partnerships that could expand its ecosystem. With a commitment to continuous improvement and adaptation, Loopring aims to solidify its role as a leading player in the decentralized exchange landscape.
Loopring market
- Position by market cap among the coins we track.
- #350
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $12.25M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.00861High $0.009776
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $3.75
- Now 0% of itReached 10 Nov 2021 · Needs +41,799% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 1.37B LRC
- 100% of max
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- 1.37B LRC
- The most coins that can ever exist. Some coins have no limit.
Loopring converter
1 Loopring = $0.00895