By Mark - Cryptocurrency expert - 03-11-2021
The price to buy altcoin Loopring (LRC) has recently witnessed significant growth. In the last week, Ethereum (ETH) token LRC has turned many heads in the crypto community as it rises by over 200% in value. Loopring is a crypto market investment developed on the Ethereum network. Loopring considers itself a non-custodial, open-source, audited exchange protocol and offers cryptography for decentralised finance (DeFi) applications.
Loopring has caught the attention of many investors since the protocol was integrated with GameStop's (GME) non-fungible token (NFT) platform. The information about the integration came to light when GameStop began releasing NFT products to expand the business. Because Loopring became an essential component of the GameStop NFT business, the price to buy crypto coin LRC increased drastically.
Loopring holders have witnessed the price of LRC soar from $0.3851 on October 27 to $1.54 just a few days later, on November 3. According to statistics, Loopring has witnessed a 255% growth with a capitalisation of $2,043,410,934 due to the GameStop reports. As a result of the latest price increase, LRC is now ranking in the top 100 cryptocurrencies, sitting at number 73 as per CoinMarketCap.
Loopring, as previously mentioned, is a Layer 2 token built on the Ethereum network; Loopring also employs zkRollup encryption for the Ether ecosystem. According to the Loopring company website, their mission is to bring together cryptocurrency exchange platforms that operate both centralised and decentralised. Merging the two types of exchanges will allow Loopring to produce a system that can benefit both parties while minimising the number of inefficiencies.