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Loopring is a decentralised exchange (DEX) protocol on the Ethereum blockchain. It’s designed to provide traders and institutions with a decentralised, automated trade execution system that implements trades across crypto exchanges, ensuring protection from counterparty risk and reducing the cost of trading.
Despite the fact that cryptocurrencies are designed to be decentralised, most people still buy, sell and trade cryptos on centralised platforms. Not only does this expose them to an increased risk of fraud and a lack of transparency, but it can also mean higher transaction fees and issues with liquidity.
It’s important to note that Loopring is not a DEX itself – instead, it is an exchange protocol. By acting as an automated trading interface between crypto exchanges and blockchains, its role is to implement a user’s trades across the world’s crypto exchanges, providing protection against counterparty risk and reducing trading costs.
The Loopring system allows you to retain control of your tokens rather than sending them to an exchange, with smart contracts used to automatically execute trades while the funds remain under your control. Loopring is designed to break each order into small pieces, identify the best exchanges and times to trade those pieces and apply game theory logic to produce the best trading results.
The LRC token is the native utility token of the Loopring system.
Loopring (LRC) is the 98th largest cryptocurrency in the world by market cap, valued at $581,441,238. The current price of Loopring is $0.66532037, which is -0.048% lower than yesterday. Prices have ranged between $0.73389888 and $0.66041833 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 16, 2022 11:05 UTC.
| Coin symbol | LRC |
|---|---|
| Coin Marketcap | AUD$581,441,238 |
| Total LRC supply | 1,373,873,439 |
| Circulating LRC | 1,245,991,469 |
| Current price | AUD$0.66532037 |
| All time high | AUD$7.6648 |
| Notable team members | Leon Li, Du Jun |
| Partnerships | Nervos, Bit2me |
| Industry | Decentralised exchange |
| Token uses | Utility token, rewards, governance |
| Network | Ethereum |
Historical prices compared with the price of $0.66532037.
| 1 hour | -8.94% |
|---|---|
| 24 hours | -0.05% |
| 7 days | -1.96% |
| 14 days | -9.30% |
| 30 days | -29.56% |
|---|---|
| 60 days | -37.65% |
| 200 days | -48.11% |
| 1 year | -34.97% |
Disclaimer: Cryptocurrencies, including Loopring, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LRC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Loopring or any other cryptocurrency discussed.
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