Loopring is an open-source, non-custodial exchange and payment protocol built on Ethereum. It was developed by Daniel Wang, a software engineer from Google and tech giants. This protocol allows users to efficiently conduct trades with enhanced security as it utilizes zero-knowledge rollups. The digital asset Loopring (LRC) is among the top crypto-coins with a market cap hovering around $548 million and ranking 86th in the crypto-verse. According to CoinMarketCap, the volume of LRC rose by a bit more than 120% in the past 24 hours.

The number of holders for LRC is nearly stable, reaching 168.1k, whereas the total value locked is at $128.2 million. It is worth noting that the top 10 holders of LRC make up more than 40% of its total supply. Looking at the weekly chart of the asset, one can observe a weak bull trend forming with bullish candles as support. Currently, Loopring is trading around $0.41 with a 2% increase over the day. The nearest resistance to its price can be seen at $0.5 while the support is at $0.3. Apart from this, LRC's Relative Strength Index (RSI) is at 68, signaling the presence of the asset in overbought territory.

All in all, the 120% growth in the volume for Loopring might lead to increased value for its digital asset - LRC. In order to break the resistance at $0.5, the asset must maintain a positive slope in its RSI so its bullish trend persists. In any case, investing in or trading crypto assets remain risky and comes with the threat of financial losses. Therefore, it is always best to conduct thorough research before investing in any cryptocurrency.



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