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Loopring

LRC

Price
$0.25
12/3/2022, 6:15:56 AM
diamondHands

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Market

Market stats

Market cap

$336.9M

Volume (24h)

$46.3M

Circulating supply

1.3B LRC

Typical hold time

14 days

Trading activity

Not enough data

Popularity

#54

All time high

$3.83

Price change (1h)

-1.29%

Price change (24h)

-1.16%

Price change (7d)

+5.85%

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Loopring is on the rise this week.

The price of Loopring has risen by 5.85% in the past 7 days. The price declined by 1.16% in the last 24 hours. In just the past hour, the price shrunk by 1.29%. The current price is $0.25 per LRC. Loopring is 93.40% below the all time high of $3.83.

The current circulating supply is 1,330,133,545.526 LRC.

About

Loopring is an Ethereum token that describes itself as “an open-sourced, audited, and non-custodial exchange protocol.” It aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs.

What Is Loopring?

Loopring (LRC) is an Ethereum token that describes itself as “an open-source, audited, and non-custodial exchange protocol.” The protocol aims to allow anyone to build non-custodial, decentralized exchanges on top of it by leveraging zero-knowledge proofs (ZKPs), a popular means of enhancing privacy in cryptocurrency. ZKPs ensure that assets are always in the control of users.

The majority of crypto trading takes place on centralized cryptocurrency exchanges, which are online platforms run by private corporations that hold users’ funds and match trading orders. However, as indicated in the whitepaper, these platforms come with a variety of risks. The three main risks of centralized exchanges include lack of security, lack of transparency, and lack of liquidity. As a result, a new type of exchange called decentralized exchange has evolved to address these issues. These exchanges are different from centralized exchanges because users keep control of their private keys by trading directly on the underlying blockchain. However, decentralized exchanges are not completely free from flaws. Performance and structural constraints continue to be a problem.

Hence, Loopring’s stated purpose is to create a hybrid platform that combines prominent features of both centralized and decentralized exchanges. The protocol aims to maintain the benefits of decentralized exchanges while lowering or eliminating their inefficiencies through hybrid solutions. Loopring intends to improve order execution efficiency and DEX liquidity by managing the orders in a centralized manner but settling the trade on blockchain.

Another prominent feature that Loopring seeks to offer is the low transaction cost. Loopring aims to execute the majority of operations, such as trade and transfer settlement, off the Ethereum blockchain. This considerably reduces the gas usage and overall transaction cost to a fraction of what it would be on-chain. 

History of Loopring

Loopring Foundation, which looks after the development of the Loopring protocol, was founded by  Daniel Wang, a software engineer and entrepreneur. Wang is the founder and current CEO of the foundation, hailing from Shanghai, China.

Wang completed his bachelor's degree in computer science from the University of Science and Technology, China. He also worked at companies like JD.com and Coinport. 

The whitepaper of Loopring was launched on September 8, 2018. Loopring conducted an initial coin offering (ICO) in 2017 and raised 120,000 Ether, worth $45 million (USD equivalent at the time of offering). However, a tightening of regulations around these offerings in China at that time caused Loopring to return a large portion of the funds raised in the ICO. According to Wang, the team refunded around 80% of the funds raised, and the Loopring team used the remaining funds to further develop their exchange.

How Are New LRC Tokens Created? 

The Loopring protocol token LRC is an ERC-20 compliant and a stakeable token. Staking is a process of earning rewards by holding certain cryptocurrencies. Using this method, cryptocurrencies verify their transactions and allow users to earn rewards for their holdings. LRC can be used in three types of staking:

  1. Anyone can stake LRC to get a share of the 70% protocol fees collected by all Loopring-based exchanges. The Loopring DAO receives 20% of the funds, while the remaining 10% are sent to the unusable wallet to remove them from circulation, which is called “burning.” The Loopring DAO is the community of members (LRC holders) deciding how these funds should be spent. 

  2. For economic security and reputation, an exchange owner can stake LRC.

  3. An exchange owner, high-frequency traders, and market makers can stake LRC to reduce protocol fees on a specific exchange.

How Many LRC Tokens Are There?

The total supply of LRC tokens is capped at 1,375,076,040. 

How to Buy LRC Tokens

Users can buy LRC tokens on centralized and decentralized exchanges like Coinbase.

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Reading List

News

The Defiant • Mar 25, 22

Meme Stonk GameStop Taps Loopring for Beta NFT Marketplace Immutable X to Join Fellow Layer 2 in Running Live Platform

Meme stock fave GameStop just selected two Layer 2s to run its NFT marketplace.

Read more

Meme stock fave GameStop just selected two Layer 2s to run its NFT marketplace.

Blockworks • Feb 22, 22

Switzerland-based Index Provider Offers DeFi Exposure

Compass Financial Technologies' index will offer exposure to 10 DeFi tokens The post Switzerland-based Index Provider Offers DeFi Exposure appeared first on Blockworks.

Read more


Compass Financial Technologies' index will offer exposure to 10 DeFi tokens
The post Switzerland-based Index Provider Offers DeFi Exposure appeared first on Blockworks.

Blockworks • Nov 11, 21

KDA Continues Hot Streak; LRC Rallies: Markets Wrap

Kadena triples in the last 30 days despite the broader market sell-off, and Loopring rallies The post KDA Continues Hot Streak; LRC Rallies: Markets Wrap appeared first on Blockworks.

Read more


Kadena triples in the last 30 days despite the broader market sell-off, and Loopring rallies
The post KDA Continues Hot Streak; LRC Rallies: Markets Wrap appeared first on Blockworks.

CoinDesk • Nov 03, 21

Loopring Surges 40%, Solana Replaces Cardano as 5th-Largest Coin as Ethereum Fees Spike

The average transaction fee on Ethereum has risen a staggering 2,300% since late June.

Read more

The average transaction fee on Ethereum has risen a staggering 2,300% since late June.

The Block • Jun 18, 21

Grayscale is exploring 13 more investment products, including ones for Solana and Polygon

Crypto asset manager Grayscale is exploring 13 more investment trust products, including ones tied to Solana and Polygon tokens. The post Grayscale is exploring 13 more investment products, including ones for Solana and Polygon appeared first on The Block.

Read more

Crypto asset manager Grayscale is exploring 13 more investment trust products, including ones tied to Solana and Polygon tokens.
The post Grayscale is exploring 13 more investment products, including ones for Solana and Polygon appeared first on The Block.

CoinDesk • Sep 30, 20

MakerDAO Adds Chainlink, Compound, Loopring as Collateral Options

MakerDAO has voted to add support for a trio of new tokens for the decentralized finance (DeFi) loans that generate DAI stablecoins.

Read more

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FAQ

What is the current price of Loopring?

The price of 1 Loopring currently costs $0.25.

What is the market cap of Loopring?

The current market cap of Loopring is $336.92M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Loopring?

The all-time high of Loopring is $3.83. This all-time high is highest price paid for Loopring since it was launched.

What is the 24 hour trading volume of Loopring?

Over the last 24 hours, the trading volume of Loopring is $46.32M.

What other assets are similar to Loopring?

Assets that have a similar market cap to Loopring include Basic Attention Token, Lido DAO Token, Curve DAO Token, and many others. To see a full list, see our comparable market cap assets.

How many Loopring are there?

The current circulating supply of Loopring is 1.3 billion.

What is the typical holding time of Loopring?

The median time that Coinbase customers hold Loopring before selling it or sending it to another account or address is 14 days.

What is the relative popularity of Loopring?

Loopring ranks 33 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Loopring?

Currently, 92% of Coinbase users are buying Loopring. In other words, 92% of Coinbase customers have increased their net position in Loopring over the past 24 hours through trading.