Is Loopring coin a good investment?

Note: All price related data is fetched from everycoinprice.com

Loopring price returns
Photo by Jeremy Bezanger on Unsplash

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

2 years

Loopring: 5years

The returns on LRC for 2 years have ranged from 3000% in November last year to +1000% right now

1 year

Loopring: 1 year

The returns have been above +35% this year

6 months

Loopring: 6 months

The returns on LRC have crossed +60% in the past 6 months

1 day

Loopring: 1 day

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

Subscribe below to receive regular updates

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store