Loopring, or LRC, is an ERC-20-based token that facilitates ERC-20 tokens trading through the Ethereum network. It aligns with the Ethereum blockchain to offer essential tools developers use to create decentralized exchanges.
The LRC token ICO emerged publicly in August 2017. Following its launch were several positive and negative price actions. It currently trades at $0.2427, a -93.58% decline from its all-time high of $3.83.
Unfortunately, the 2022 bearish trend has nullified the initial Lrc price predictions. But according to the future price forecasts, investors can remain hopeful.
Find out what some crypto experts think about the future price of LRC in this Loopring price prediction guide.
What Is Loopring (LRC)?
Loopring (LRC) is the Ethereum-based native token of the Loopring foundation. It's an open-source protocol for developing decentralized digital currency exchanges. It also simplifies payments and trading on the Ethereum blockchain.
Loopring connects the right buyer to the right seller to arrive at a mutual price. Since Loopring is a decentralized protocol, it executes this operation without requiring deposit funds from traders, as opposed to centralized exchanges.
Furthermore, Loopring is established on the Ethereum layer 2 mainchain. This fact differentiates Loopring from other DEX developments, like SushiSwap or Uniswap, on the Ethereum layer 1 mainchain.
A brief history of Loopring blockchain
Daniel Wang (an entrepreneur and software engineer) was also the founder and CEO of the Loopring foundation in July 2017. According to Wang, the team had evaluated common cloud services to arrive at one with adequate efficiency for the company’s facilities.
So, it ventured into running Google Cloud transaction computation, which was successful as per performance enhancement but had high costs.
Loopring is now committed to dampening the two adverse effects associated with decentralized digital currency exchanges. These include higher costs and lower efficiency.
In March 2020, the company launched a digital currency exchange platform called Loopring.io. The platform was zkRollup-based, which allows it to perform 1,000 times more transaction throughput than other decentralized exchanges.
Six months after its launch, the company had over 7,000 active cryptocurrency traders and users. The Google Cloud implementation in 2020 has also been very helpful regarding transaction fees and time.
What protocol does Loopring use?
The protocol token of Loopring operates with the Proof-of-Stake (PoS) mechanism to generate new tokens. Users earn rewards here by staking their holdings.
There are three forms of staking the Lrc token: Loopring DAO, exchange owner – Traders – market makers, and exchange owner staking.
Loopring DAO staking
Staking the Lrc token is possible for anyone on the network. Users get a share from the protocol’s 70% fees, belonging to Loopring exchanges.
20% of the funds go to Loopring DAO (users), while 10% goes to the unusable wallet (the burning process). Additionally, the Loopring DAO determines the expenses on these funds.
Exchange owners, traders, and Market Makers staking
A higher staking level is required to dampen protocol charges on a particular exchange. Such stakes only come from market makers, exchange owners, and high-frequency traders.
Exchange owner staking
An exchange owner may stake in a case where the reputation and security of the economy matter.
What makes Loopring different from other cryptocurrencies?
Lrc token has some unique factors, including incorporating centralized and decentralized elements and order book-based functions.
Integration of centralized and decentralized elements
The Loopring token combines decentralized and centralized exchange elements. The purpose is to eliminate inefficiencies and promote special advantages of the protocol for users.
It does this by allowing a direct connection between buy and sell orders. This new development replaces the holding and processing of users' funds internally – a system with no transparency.
Users' experience with trading on Loopring decentralized exchanges is somewhat akin to that of centralized exchanges. Both exchanges are exclusively based on the order book.
Moreover, Loopring doesn’t depend on user-generated liquidity due to the order book function. So, while other DEXes implement the constant AMM (automated market maker) technology, Loopring focuses more on transparency between traders.
Loopring at a glance
Factors Influencing Loopring (LRC) Price
Certain factors can influence Loopring price both on a short-term and long-term basis. Find them below.
Demand and supply
Loopring price can fluctuate depending on the demand for LRC. An increase will cause a rise in its price if other conditions are constant, and vice-versa.
Also, Loopring has a fixed maximum supply of 1.37 billion tokens. This helps to control the LRC from being over-saturated in the market. Moreover, LRC is a deflationary token that can be staked, reducing the circulating amount.
When a crypto project offers the right packages by creating a solution to some of the challenges in the crypto space, it will become a point of interest and investment for many.
Loopring emerged to create a hybrid by combining some features of both centralized and decentralized platforms. This could boost its price if users get satisfaction through the project’s details and functionalities.
The market sentiment on a particular digital asset could either be appealing to investors or create doubts and fear. Prices in the crypto market are susceptible to fluctuation.
Loopring price could go bullish when the market sentiment on the token is positive. However, the token would plummet once the market sentiment turns negative.
Usually, developers always release news to help investors and other participants assess what’s happening on a project. Hence, project news could bring either a positive or negative impact on Lrc price.
News of technological improvement and upgrades on Loopring would spike the interest of users and investors, surging its price. Collaborations with giant companies can also create a positive effect on the token’s price.
However, Loopring price would plummet if some negative news emerges about it.
Macroeconomic conditions now influence the potential trend of asset prices in the crypto markets. Some of them include inflation, employment levels, international trade, national incomes, and others.
For instance, the coronavirus pandemic affected global economies. However, it marked positive growth for the crypto space. But the inflation rates of 2022 have negatively affected crypto prices instead.
Loopring (LRC) Past Price Performance
There are many price actions to recall regarding this token. Find the movements below.
Loopring ICO price
The initial sale of the Loopring token started on August 1, 2017, at the price of $0.06. There was hardly significant volatility to recall from the token following its launch. LRC kept hovering around prices less than the $0.1 price mark until 2018.
Initial bull rally
In the initial month of 2018, the LRC coin spiked to $2.59, marking its initial bull rally. However, the token failed to sustain such price growth and dropped to about $0.72.
It soon stabilized at $0.1 for the next two years, after ranging between $1.17 and $1.03 from January to May 2018. Though, at some point in December 2019, LRC reached $0.01986.
The introduction of a new economic structure
2021 was a very good year for Loopring, just as it was for many other cryptocurrencies. In January, the Foundation released a new economic structure for the Loopring coin. After this event was a gradual appreciation in price.
Later on November 10, 2021, the token recorded its all-time high of $3.83 – a push from the positive sentiments of the crypto market.
The coin has lost some value from then to now, given the present bear run of the crypto market. LRC now trades at a price 93.58% less than its all-time high.
How Is Loopring Performing Now? Is LRC Bearish Or Bullish?
In the last 24 hours, the Lrc token has maintained more bearish movements than bullish ones on CoinMarketCap. Its 24-hour change is around -1.11% on December 9 and currently trades at $0.2427.
But the token appears to be thriving in trading volume, currently at $17,871,664. The circulating, total and maximum supplies are as follows; 1 billion, 1,373,873,437, and 1,374,513,896, respectively.
According to experts' predictions, crypto investors and companies can look forward to its future price growth.
Loopring Price Prediction Today
Before addressing the data from popular indicators and technical analysis for Loopring price prediction today, here's what yesterday's price movements are.
Yesterday was slightly positive for the token, with a 24-hour price change of 2.21%. As per its minimum and maxing prices, it displayed $0.2378 and $0.2465, respectively. LRC started the day at $0.2402, and its closing price stood at $0.2455.
For today December 9, the coin could hit a maximum price of $0.2601, based on candlesticks chart analysis by crypto analysts. The expected minimum and average prices are $0.2390 and $0.2458, respectively.
Furthermore, predicted support levels as per data from technical indicators are $0.2213, $0.2276, and $0.2377. Expected resistance levels include $0.2476, $0.2612, and $0.2803.
Loopring Price Prediction For January 2023
The increase in the average trading price of Loopring cryptocurrency has driven technical analysis experts to forecast the moving average price for January. Based on tech sector growth prediction, here is a day-to-day Loopring growth prediction for January 2023.
Short-Term Loopring Price Prediction For 2022
Due to the Loopring price variations at the beginning of the year, cryptocurrency experts forecasted the average trading price of LRC and the expected maximum price.
Here is December 2022’s LRC crypto price prediction
Long-Term LRC Price Prediction For 2023
According to Loopring price forecast experts, the LRC might hit death cross from the support level in 2023.
Here’s the month-by-month LRC price prediction.
Long-Term Loopring Price Prediction For 2023 - 2030
A crypto expert on the LRC price forecast for 2030 believes that the traders & investors in the Lrc market will make huge profits. Furthermore, the sector growth prediction predicts that Loopring will be $5.31 in 2030.
Here’s a year-to-year LRC price prediction.
Long-Term Loopring Price Prediction By Experts
Price predictions sometimes guide investment decisions. Most LRC price predictions follow technical analysis and long-term price trends. But sometimes volatility negates the forecasts.
Here are some price predictions for Loopring.
LRC price prediction by Changelly
Based on its technical analysis, Changelly reported a bearish sentiment for Lrc price. So, in 2022 it will hit a maximum price of $0.259974. The predicted minimum and average prices are $0.229977 and $0.249975, respectively.
In 2023, Changelly forecasts the maximum price of LRC to be $0.429957 and a minimum price of $0.369963. The analyst further revealed the average trading price to be $0.379962.
Loopring price prediction by CryptoNewsZ
According to CryptoNewsZ’s price prediction, the token will display massive growth in the future. This expert forecasts LRC reaching a maximum of $1.54 in 2024 and a minimum price of $1.30. CryptoNewsZ also forecasts the average price to be $1.34.
In 2025, this analyst predicts the token to hit a maximum price of $2.08 and a minimum price of $1.61. The possible average trading price is $1.86.
Loopring price prediction by DigitalCoinPrice
DigitalCoinPrice gave a rapid increase in value in its Lrc price predictions for 2026. It forecasts the token at an average price of $1.07 and a maximum price of $1.11. The anticipated minimum price could be around $0.93.
DigitalCoinPrice Lrc price prediction in 2027 reveals that the token will surge to a maximum price of $1.33. It expects the minimum and average prices to be in the ranges of $1.15 and $1.30, respectively.
Loopring Price Prediction By Margex
Margex supports diverse digital assets such as BTC, ETH, EOS, XRP, LTC, SOL, etc., as reliable alternatives to Loopring. Traders can profit using the 100x leverage and its staking platform.
Margex crypto trading platform assists traders with educational materials and other tools. It offers professional services in the form of access to technical analysis, insights, and asset price trends.
Margex analysts have used the same tools to forecast Loopring future price movement.
Loopring is showing signs of a positive price movement today, December 9. The asset is still trading below its 50-day and 200-day SMA. The RSI reading is 45.08, which is neutral and shows hesitation from traders.
The MACD is currently bearish below its signal line.
Key levels to watch are as follows: Support: 0.2197
Resistance: 0.4269 and 0.673
Expect loopring to remain below 0.673 in 2022 and to test the 0.42 level in the coming days.
Note: This is not investment advice. Traders should do proper research and only risk what they can afford to lose.
FAQ: Common Loopring Questions And Answers.
Find answers pointing to Loopring future probable prices.
Will Loopring crypto price hit $100?
Loopring may reach $100 probably after 2030 if a bull run occurs in the coming years. Expert price predictions suggest a bullish outlook for the Lrc token. In November 2021, Loopring rose by 149.75%. If it follows the same pattern, the token may reach $100 in the distant future.
What will be a possible LRC price in 2025?
Crypto experts predict that Loopring could reach a maximum price of $0.989901 and a minimum of $0.789921 in 2025. According to Trading Beasts’ Loopring forecasts, LRC price will reach $0.483 by the end of 2025.
What will LRC Price be in 2030?
DigitalCoinPrice price predictions suggest LRC will reach a maximum price of $3.92 by the end of 2030. ICOcreed had a bullish stance on Lrc token price. The expert predicted that LRC will maintain an average trading price of $17.74 throughout 2030.
What will be the price of LRC in 5 years?
According to expert price predictions, Loopring price will rise if the ZkRollup technology becomes enhanced. The price will hit a new all-time high of $17.42 and will not go lower than $10.29 in the next five years.
Is the future bright for Loopring (LRC) crypto?
Crypto expert predictions show that the coin will not die any time soon. However, cryptocurrencies have many uncertainties, and there is no telling the exact picture of Loopring's future. The coin has a good consensus mechanism with high growth potential.
How high can the price of Loopring (LRC) get?
Expert predictions indicate that looping prices will increase notably in the coming years. Trading Education's Loopring forecast suggests a price of $25.70 by the end of 2030.