What have you done with your Loopies that you have earned on Publish0x in 2020?

When $LRC was introduced as a tipping token on Publish0x back in April 2020, the price of $LRC was around three cents, today it is worth around 40 cents! I believe that Loopring is going to absorb the Uniswap trading volume over time and that Loopring Coin can easily hit the one dollar mark as more users are discovering the benefits of Loopring`s Layer 2 solution. 

$LRC Tokenomics And Usecases

Loopring coin is an ERC20 token running on the Ethereum blockchain. Since $LRC is an ERC20 token, you can explore addresses and transactions by Ethereum block explorers such as etherscan.io.

$LRC has a circulating supply of 1.2 Billion $LRC coins and a maximum supply of 1.37 Billion. It has a deflationary nature as 10% of the Loopring fee pool gets burned. $LRC is also burned whenever a DEX operator gets slashed.

Loopring Coin already has a market capitalization of $416,914,493. Climbing up the market cap rank, $LRC is currently located on market cap rank #60.

$LRC can be used used to pay trading fees on the DEX. Rewards for providing liquidity on the DEX are also paid in $LRC.

Finally, it can also be staked for different purposes. There are actually three different kinds of staking $LRC. The first possibility is to stake $LRC in order to run a DEX on the Loopring Protocol with enabled on-chain availability. To do this, you need to stake at least 250k $LRC. Enabling on-chain data availability means that you are constantly updating the state of your DEX on the Ethereum blockchain. 

Another option is to run a DEX on the Loopring Protocol without on-chain data availability but this requires a staking amount of at least one million $LRC. This has the benefit that the user funds can be locked up and recovered later on in case something goes wrong with your DEX. Transactions are also faster and cheaper.

The third staking option is the option that everyone holding $LRC can participate in to get a cut of the trading fees on the entire Loopring Protocol. Any amount of $LRC can be staked but it needs to be staked for at least 90 days before you are able to claim your staking rewards. Stakers receive 70% of the fee pool, 10% are getting burned and 20% going into the development of the Loopring DAO.

$LRC Price History

$LRC was first issued in an initial ICO back in August 2017 at a price of seven cents. Like every other cryptocurrency, $LRC took a huge hit in 2018. After reaching an all-time high of $2.19 on the 9th of January the price fell steadily through 2018 and into 2019.

As of the beginning of 2020, the price of $LRC was all the way down to $0.0225. It was just off the all-time low of $0.019861 hit on December 18, 2019. When $LRC was implemented as a tipping token on Publish0x, the price of $LRC was three cents. Since then the price has begun to rally substantially following improvements of the Loopring products. In June 2020, the $LRC token was trading at $0.09, for a gain of nearly 300% in the first half of 2020.

After the flatline in 2019, the price has recovered pretty well over the last months. At the beginning of January 2021, the $LRC price has pumped from 30 cents to nearly 60 cents within a day, and then it retraced to currently around 40 cents.

$LRC Price Prediction

Because the market is very volatile, especially right now, it is not easy to predict the price of a cryptocurrency per se.

For a meaningful Loopring Coin price forecast, it is necessary to deal with the various factors that determine the value of $LRC. These key factors can help make an assessment of the value and the potential of $LRC.

This requires to understand what Loopring actually is. Loopring is an Ethereum zkRollup protocol or in other words, it is a special type of layer 2 scaling solution sitting on top of Ethereum, where transaction throughput can be increased, and transaction cost can be decreased. This results in faster, cheaper, gas-free transactions for the users while zkRollups maintain the complete self-custodial security guarantees of Ethereum.  

Loopring is also a collection of products built on top of its open-source protocol. These products include a non-custodial DEX, Loopring Payments, and the Loopring Wallet. Right now, there is also a DAO in the works but, unfortunately, there aren`t many details about it at the moment.

I am going to highlight the Loopring DEX, Loopring Payments, and the Loopring wallet in three different posts in the next upcoming weeks. If that`s the stuff you are interested in, make sure to follow me here on Publish0x, so you won`t miss it.

Once you have done an instant and gas-less trade or transactions on the Ethereum blockchain with the magic of the ZkRollup, you`ll understand the full potential of the Loopring Protocol and its native token $LRC.

That`s why I believe that Loopring is going to absorb the Uniswap trading volume over time. This means that Loopring Coin can easily hit the one dollar mark as more users are discovering the benefits of Loopring`s Layer 2 solution compared to its competitors. 

Buying And Storing $LRC

Loopring Coin is already listed and tradable on all major cryptocurrency exchanges like Coinbase and Binance. This proves that $LRC already is a well-established altcoin. 

Of course, you can also use the Loopring DEX to buy Loopring Coin, instantly, gas-free, and on the Ethereum blockchain.

If you decide to give Loopring`s Layer 2 DEX, make sure to use a referral link when you are going to activate L2 for your Ethereum address as it will save you fees when trading on the DEX. 

Since $LRC is an ERC20 token, you can use any ERC20 wallet to store your $LRC. I recommend these five ERC20 wallets that you can also use to withdraw your earned tokens from Publish0x: TOP 5 ERC20 Wallets To Withdraw Your Tokens From Publish0x

Of course, you can also use Loopring`s own wallet to store your $LRC. Keep in mind that you can`t use the Loopring Wallet for withdrawing from Publish0x as the Loopring Wallet is working with smart contracts.

Whale Wallets

If you like to analyze Whale Wallets that are holding huge amounts of $LRC, I recommend reading the post Whale Wallet Analysis - Loopring, written by @D3F1.

My Final Words 

At the end of my post, I like to remind you that my intention in this post is to raise your awareness of Loopring Coin and my intention is not to replace your own research. I may look smart on my profile pic but I am not your financial sensei. 🤓  

I hope I could provide you with some interesting and useful information about Loopring Coin. Now what are you thinking, is $LRC worth an investment?

Thank you guys as always for reading, liking, following, and tipping 👍

If you have specific questions about the different Loopring Products, I recommend joining the Loopring community on discord or on Telegram.

Remember to use a referral link when you are going to activate L2 for your Ethereum address as it will save you fees when trading on the DEX. 

If you like, you can also follow me on Twitter and also on noise.cash 😉

You may also like: 10 Crypto Investment Tips For Beginners - Don`t Pay Other People To Lose Your Money!