Is Loopring coin a good investment?
Note: All price related data is fetched from everycoinprice.com
Loopring is a software running on Ethereum that aims to incentivize a global network of users to operate a platform that enables the creation of new types of crypto asset exchanges. Loopring’s symbol is LRC, and it uses a new type of cryptography called zkRollups, which is claimed to make exchanges faster and cheaper compared to direct Ethereum use.
Loopring was created by Daniel Wang from China in 2017. He is known to have worked for big firms such as google and zd.com. He crowdfunded initial funding through ICO or initial coin offering. The funds are reported to cross $45M. The team later returned 80% of the funds due to changes in chinese regulations on crypto.
LRC token is a cryptocurrency linked to loopring. It’s been in the news lately for its superior returns compared to other common altcoins
Now we look at LRC returns over two periods time
The returns on LRC for 2 years have ranged from 3000% in November last year to +1000% right now
The returns have been above +35% this year
The returns on LRC have crossed +60% in the past 6 months
The price change has not been much today (February 27, 2022)
Summary: If we had invested $1000 into LRC in June, 2020.
It would be
- $31,000 on November 01, 2021
- $11,000 today, February, 2022
As we can see LRC has have had massive returns resulting into attractive more investors
Not financial advice
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