I thought for the next few posts I would take tour down memory lane and have a look at how some of the former crypto tokens adopted by POx are doing with a bit of background thrown in for fun. I am going to present them in no particular order but not going to give any attention to Ethereum because that is a topic that has been amply covered by many including myself.
Loopring (LRC) is an Ethereum Layer‑2 protocol using zkRollups to enable fast, cheap, and secure trading and payments. It batch‑processes transactions off‑chain while keeping security anchored to Ethereum, allowing high throughput and very low fees. The core idea that drove the porject is in response to the fact that Ethereum is congested and expensive; LoopRing acts like a high‑speed express lane that inherits Ethereum’s security but avoids its bottlenecks. It might be interesting see how this compares to Optimism which I recently described as Ethereum with window dressing.
As a project Loopring is supported by strong technology (zkRollups), real utility in the sense of DEX, a wallet and payments - remember for me this has to be an absolute estential for a project's long term viability and why I try to avoid MemeCoins. Furthermore becaue it inherits Ethereum's security it is a token that is fairly robust in stature
LoopRing has faced its challenges including a number of delistings on major South Korean exchanges such as Upbit, Bithumb due to compliance concerns, which has pressured the token and reduced to the token's liquidity. To add to the project's burdens Binance has also flagged it with a monitoring tag over similar compliance. risks. However, it is still there and refusing to die. In fact it has responded positively part of an overall surge in crypto prices on and around 17th April. With a market cap of $27.12 million and a circulating supply of 1.37 billion, Loopring is currently priced at £0.15 and has seen about a 11% rise in the last 24 hours. These figures are true at the moment of writing.
My feeling is that LoopRing is far from being out of the woods, but I do remember it fondly because it was one of my early success stories, because (and I can't remember why) suddenly after accumulating a whole load from P0x they suddenly spiked and I sold and moved on. Unfortunately back in those days, while I was still a relative newbie, I hadn't yet learnt how to consolidate the gains and just pumped it back into the machine.
Just briefly it is also worth mentioning that it is trying to occupy the same crypto space as a number of other tokens, which by definition become a threat to its survival (and vice- versa), the most notably of which is Arbitrum.
BTW just because I have gone back to crypto please do not assume I my mood and outlook is any lighter. The cave is still dark, but writing is the one bit of light I have.
As always stay safe and well my friends.
