While the cryptocurrency market is exciting and interesting, it is still far from perfect. The goals that the blockchain technology aims to achieve are not that easily achievable. But that does not mean, it should not be tried. Loopring is one such project with the aim of implementing the core beliefs of the blockchain technology. Loopring has the mission to bring an all-in-one digital bank for the future world. It aims to empower millions of people around the globe to manage their funds themselves while having exposure to the complete metaverse of cryptocurrencies.
What is Loopring?
In simple words, Loopring can be considered the decentralized version of Binance but while taking it a step further. It offers all-in-one and trustless custodial banking. The network combines the positive aspects of centralized exchanges and the blockchain technology through a hybrid version. Loopring offers the speed and affordability of a CEX with the decentralization of the blockchain through elimination of intermediaries.
The key feature of Loopring is its powerful zk-rollups. ZkRollups are one of the many proposed ways to increase the scalability of the Ethereum blockchain while making it more suitable for the decentralized finance segment. ZkRollups are popular because they employ the zero-knowledge cryptography which ensures that no data is revealed while transacting. ZkRollups also bundles multiple transactions into one to increase the speed of the network. Loopring claims that it is designed to allow decentralized exchanges built over it to sidestep Ethereum’s slow network and enjoy the speed offered by the zkRollups.
LRC future outlook
Loopring has shown a very good perofmrnace during the bull run of 2021. It was; however, unable to break its all-time high of $2.59 established during the 2018 bull run. Nonetheless, LRC token did accumulate good gains and the 52-week high at $0.89 was recorded. At the time of writing, the cryptocurrency stands at a price level of $0.46. The price of LRC has been moving uphill with a 7% increase in the past twenty-four hours while the daily trading volume has surged by 13%.
The future outlook of the cryptocurrency is bullish. The bullish trend in the long-term window is also supported by the strong fundamentals of the network. According to the estimates of Wallet Investor, Loopring is expected to be trading hands at $0.74 in a year’s time. The uptrend is expected to sustain and with a price prediction of $1.93. Digital Coin price predicts a similar price trajectory. Their estimates suggest the ATH will be broken by 2028.