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Highlights
- Loopring (LRC) has been riding high on the rumours that GameStop wants to explore the non-fungible token (NFT) market.
- Loopring (LRC) is an ERC-20 token that claims to be an open-sourced, non-custodial exchange protocol.
- According to CoinMarketCap, the LRC was trading healthy green at US $0.942149 with a 24-hour trading volume of US $2,981,215,643.
Loopring (LRC) is a decentralised exchange protocol that has been grabbing eyeballs for the past couple of days. The Ethereum-based network has been riding high on the rumour that GameStop wants to explore the non-fungible token (NFT) market.
As GameStop is going through a business turnaround, the NFT & Loopring partnership could give it the impetus to kick on from here. GameStop, the world’s largest video game retailer, has already advertised a number of open positions for its non-fungible token (NFT) platform and Web3 gaming on 26 October. There are eight new openings among the 6,916 current job openings posted for the product marketing directors for GameStop’s NFT platform.
Why is Loopring Token grabbing eyeballs?
Although it’s just a rumour, it has caught the attention of the retail investors who are looking for most of the recent development. The LRC bulls are ready to rage on the positive sentiment created and make the most, keeping the bears far away.
How is LRC fairing in the market?
LRC is ranked 91 on CoinMarketCap. According to CoinMarketCap, the LRC was trading healthy green at US $0.942149 with a 24-hour trading volume of US $2,981,215,643. At the time of writing (BST 7:15 am), LRC was up by 43.73% in the last 24 hours.
LRC currently has a live market cap of US $ $1,246,546,831. It has a circulating supply of 1,32,03,34,861 LRC coins with a maximum supply of 1,323,089,245 LRC coins.
What makes Loopring so unique?
As Ethereum is one of the most followed blockchain networks, a transaction on it often become plentiful. So, without a unique protocol to process these, the transactions can often become cumbersome and increase the fees.
This is where the Loopring comes into the picture as they help the users to settle transactions off-chain. With this, the transactions are completed seamlessly, allowing the users to escape the high Ethereum fees.
Besides, as the funds remain in the user’s wallet, it allows them complete control of their funds. Therefore, it’s up to the user to either increase an order or cancel it before an order is executed. Also, miners can cross-check the wallet finances to check the order before finally executing it. che
Conclusion
Loopring and GameStop partnership is getting enough traction in the market, allowing investors to make most of the bullish trend. Experts are predicting that despite the high volatility in the market, November could turn out to be a good month for the crypto investors.
As Loopring brings flexibility, it provides the market participants with more options for finalising the order through multiple avenues. Experts are banking on this bullish trend and predict that it could supersede 2018’s all-time-high of US$2.59 by next year.
