Loopring (LRC) has been experiencing a resurgence of late, rocketing 25% over 24 hours as it strives to become one of the top performing altcoins amid the current market revival. The digital token has seen a sharp increase in its year-to-date (YTD) period and currently stands at a 24-hour high of $0.4525. Loopring is an Ethereum-based layer 2 protocol, competing with a host of other L2s, and that has all led to its recent growth spurt.
The protocol has been seen as a niche as it seeks to build a decentralized crypto exchange, and its 690% rise in trading volume shows its popularity. Its recent Shapella Upgrade has also been instrumental in driving more user adoption, and its scalability and low transaction fees are two of its most praised features.
Loopring is the 13th most functional protocol in the field according to L2Beat data, and it has already formed a number of important partnerships, including OpenOcean in 2021. As the Loopring mantra spreads further, its sustainability and mainstream adoption will only continue to rise. Building an ecosystem is at the heart of its model, which appears to be currently succeeding. Ultimately, the scalability focus is at the core of Loopring’s design, and with its reliable momentum, it is likely that the asset will provide a steady return for Hodlers.
Joseph Ruiz
- 2023-04-14
Loopring’s Scalability Focus Driving its Recent Growth
Loopring, a digital token based on Ethereum-layer 2 protocol, has been experiencing a resurgence of late, rocketing 25% over 24 hours as it strives to become one of the top performing altcoins. The token has seen a sharp increase in YTD period and currently stands at a 24-hour high of $0.4525.
