thecoinrepublic.com
The open protocol designed for putting up decentralized cryptocurrency exchanges that is Loopring (LRC) has gained some traction within the cryptocurrency community. Its token – LRC has been observed to be performing pretty well in the market in the past week.
Loopring as of late
For the last seven days, Loopring has remained bullish by 30.45. At the time of writing, LRC sits at $0.5511 alongside a 24-hour low of $0.5374 and a 24-hour high of $0.6082. and with a trading volume of $151,597,002. Further, in the last 24 hours, the said cryptocurrency is down by 5.67%.
With Loopring’s current price, it is said that it’s 76% lower compared to its all-time high of $2.40 that was reached on January 9 of this year.
Is LRC a good buy this month?
With that in mind, investors are wondering as to whether Loopring is a good buy or a goodbye for November.
The open protocol can process off-chain requests, not to mention that it boasts of having one of the most secure scaling mechanisms in the field as of late. Also, it is said that Loopring has succeeded in showing that non-custodial technology can match custodial alternatives in minimal time at a fraction of the cost in comparison to on-chain costs.
Since it claims to have one of the most secure scaling mechanisms out there, it no longer relies on any external validators, crypto-economic assumptions, or even consensus. This results in better payment applications and exchange.
Daniel Wang – Loopring’s founder stated that while they continue to operate and innovate across the stack, their entire team is committed to putting up the best possible products, adding that the Loopring team’s hard work will be “coming to a head very soon.” Wang went on to hint at several “exciting upgrades” that according to him would propel LRC into the next level.
As for the question if Loopring is still a good buy this November, cryptocurrency analysts suggest it still is as they pointed out that LRC is still in this so-called “buy zone.” However, they advised that if one has decided to purchase the crypto this November, it is best to utilize what is called a “stop-loss” order since the risks are still that high.