Loopring Price moonshots 390% on GameStop NFT rumours

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The Loopring price took off like a meme-stock on reports that GameStop is using the pro­to­col for an NFT project. Loopring (LRC) is trad­ing at $0.1430 (-0.42%), a four-week increase of 345% and +530% year-to-date. LRC’s mar­ket cap has jumped to $1.9 bil­lion, mak­ing it the 76th most valu­able cryp­tocur­ren­cy ahead of Huo­bi Token (H.T.).

Loopring is an open pro­to­col for build­ing decen­tral­ized exchanges built on Ethereum (ETH). For most of the last two months, the native LRC token has flown under the radar in a tight rage between $0.35-$0.50. How­ev­er, that changed when the link to the O.G. meme-stock was revealed. Whether the rumour is true or just a well-placed sto­ry to cre­ate a buy­ing fren­zy is unclear at this stage. But what is clear is that alt­coin mania is reach­ing dan­ger­ous levels. 

Euphor­ic bub­bles are pop­ping up all over the cryp­tocur­ren­cy mar­ket. In the last few days, alt­coins, in par­tic­u­lar, are surg­ing, with some like Solana (SOL) achiev­ing new all-time highs. That isn’t to say there won’t be clear win­ners as we advance, but it seems the buy­ing is indis­crim­i­nate, and there­fore, investors should be more cau­tious now than ever. 

LRC Price Analysis

The dai­ly chart shows the Loopring price explod­ed from nowhere last week. Encour­ag­ing­ly, LRC has man­aged to hold on to most gains, which lends cred­i­bil­i­ty to the rumour. Nonethe­less, until a part­ner­ship is con­firmed, we have no way of decid­ing if the cur­rent price is cheap, fair, or expensive.

On that note, for now, a Loopring price pre­dic­tion is tricky. How­ev­er, we will revis­it this one as more details emerge.

Loopring Price Chart (Daily)

loopring price

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