This article was last updated on August 15, 2022
Loopring is a project that gained massive attention in the latter half of 2021. Since then, the project’s community has grown substantially. This led to the interest of the general public as well. More precisely, a lot of people are looking into the direction of Loopring’s price predictions for the upcoming years.
This is exactly what we will be focusing on in this article. However, we will also talk about Loopring in detail, how to buy Loopring, its history, etc.
Over the past week, the price of Loopring (LRC) remained around $0.47. The circulation supply is 1.33 billion tokens. The market cap went up to $624 million.
Table of contents
- What Is Loopring?
- How Does Loopring Work?
- Price History & ATH
- Can Loopring Reach $5?
- Loopring Price Predictions 2022 – 2030
- Our Opinion On Loopring (LRC) Price Predictions
- Is Loopring (LRC) A Good Investment?
- How To Buy Loopring (LRC)
- Loopring Price Prediction FAQ
What Is Loopring?
Loopring is a decentralized exchange protocol that enables the trading of Ethereum-based tokens (ERC-20). The protocol is designed to be scalable, efficient, and secure. Loopring uses a “ring” of signed orders to match buyers and sellers. This allows for the execution of trades on multiple exchanges simultaneously, which reduces slippage and improves price discovery.
In addition, the use of rings eliminates the need for a centralized order book, which makes the protocol more resilient to attack. The Loopring Foundation is responsible for the development and maintenance of the protocol. The Foundation is supported by a number of leading organizations in the blockchain space, including Fenbushi Capital, 1confirmation, and FTX (Blockfolio).
The Loopring network is powered by the Loopring token (LRC), which is used to pay fees and incentive participants in the network.
The protocol uses smart contracts to match and execute trades, which reduces the risk of counterparty default and allows for trustless trading. There are two main parts of the network: the Relay and the Order Book.
The Relay is a decentralized node network that maintains an up-to-date view of the blockchain and executes trades.
On the other hand, the Order Book is a decentralized order book that allows users to submit, cancel, or fill orders. Loopring is designed to be, as we mentioned earlier, scalable and efficient, and it supports MetaMask, Ledger, Trezor, and other popular wallets. The project is open-source and community-driven, which is why so many people believe in the network.
How Does Loopring Work?
Since Loopring is an open-sourced, audited, and non-custodial exchange protocol, there’s nobody in the ecosystem you must entrust your funds to. Instead, the innovative zkRollup security feature assures your assets are completely under your control. The network itself also states that it 100% ensures the safety of its users’ finances.
Another thing we must note here is that transactions and transfer settlements through contracts are made off the Ethereum blockchain. This means a drastic reduction n gas fees. Not only that, but it means that the overall cost of transactions is quite low.
To be more precise, Loopring has a transaction fee of 0.1% flat for takers and 0% for makers. This means if you are adding to the liquidity pool and are the one who is making the transaction, there will be no transaction fee for you. Of course, this must be done through the Loopring dApp in order to work.
At the time of posting, the Loopring protocol can settle up to 2,025 transactions per second. This is official data delivered by the Loopring website. At the same time, although transactions are made off-chain since the protocol is Layer 2, it has the same security levels as Ethereum.
Price History & ATH
In this section, we will be talking about the price history of Loopring. This is a very important step before doing a price prediction, especially for Loopring. That’s because there’s been a lot of volatility around the token for quite some time now. Knowing the past prices and all-time high (ATH) will give you a better idea of what to expect and if the current evaluation is accurate, underpriced, or overpriced.
We will go over each year and notable price changes over the course of nearly 5 years, ever since the release of the Loopring token to the public. So without further ado, let’s get right into it, before moving to our Loopring price predictions.
2017 – 2018
Loopring first launched back in September 2017 with a price evaluation of $0.13. At first, a private holder who bought Loopring (LRC) before launch quickly sold the asset for some quick profit. This is also the reason why the rest of the month, the price was down to $0.04, which is a more than 70% drop.
However, the price quickly picked up in October, reaching $0.25, which is a more than a 5x increase in only a couple of weeks. Interestingly enough, the price of Loopring only went up from thereon.
At the end of 2017, Loopring had a price evaluation of $0.45, more than 10x in only 4 months of operation.
In 2018, the upwards trend continued, but only for a little while. On the 9th of January, the price went up to $2.12 – a 50x increase since September the previous year.
Yet, this was the last of Loopring for some time. The price quickly dropped to $0.04 by the end of the year.
2019 – 2020
There wasn’t much of a movement in 2019 and 2020.
In 2019, the price remained stagnant throughout the year, for the most part. There was a rare spike up to $0.10, but the price remained around $0.02 and $0.05.
Then in 2020, the show began slowly for Loopring. In the second half of the year, the price started going up for the first time in 2 years. In October, the price went up to $0.25, which was a 10x increase in only a couple of months, yet again.
The year finished off at $0.15.
At the beginning of 2021, the price quickly went up to $0.50 but remained stagnated until November. This is when things started getting very interesting.
On the 25th of October, the price of Loopring was $0.42. In exactly 1 month’s time, Loopring reached an all-time high price of $3.37, which is nearly a 9x increase in 31 days.
However, a down-trend followed, which continued until the end of the year. On the 31st of December, the price was $2.09.
The price proceeded to fall down in 2022. This is the case up until today, as well. Most altcoins lost more than 60%-70% of their value in only 6-7 months.
Unfortunately, this stands true for Loopring as well. On the 22nd of January, the price dropped won to $0.73, which was a 70% drop in price.
At the time of writing, the price of Loopring moves around $0.45 and $0.55.
Can Loopring Reach $5?
Loopring is a project that comes with a lot of utility. This is what many investors love about it. Owners are optimistic about the development of the network once the market stabilizes. That’s why so many believe the price will not only reach $5 but go beyond.
However, let’s think about it for a moment. The current price of Loopring is around $0.50. This means it will need a 10x increase in order to reach a price evaluation of $5. With a current market cap of $675 million, this will result in a new market cap of nearly 7 billion.
Although this might sound like a lot, it is actually pretty doable. This will place it just behind Dogecoin and Polkadot, which currently have a market cap of around $10 billion and $9 billion, respectively.
This is why we also believe Loopring will reach $5. However, the results will not come anytime soon.
First, we need to see market stabilization. This will happen after the military conflicts in Europe get resolved. Until then, the market will proceed to be chaotic and bearish.
So when is Loopring going to reach $5? We believe Loopring can reach $5, but it will take at least 1 more year or 2 if we are being conservative.
Related: How To Invest In Crypto In The UK
Loopring Price Predictions 2022 – 2030
Our Loopring price forecast approach will be a conservative one while still remaining realistic. When doing a price prediction, we must take into consideration the many different aspects that can affect a token like Loopring/LRC and the whole market.
For example, the military conflicts in eastern Europe are the main reason for the crypto market crash. It’s not only Loopring holders that are wondering whether or not it is time to cash out, due to worries of escalation. Because of that, it is going to be the main factor we will be considering.
Following that, we will bring you our own opinion and realistic expectations, and even a table including the minimum price, average price, and maximum price of Loopring.
Without further ado, let’s get right into our Loopring price predictions.
For 2022 specifically, there are two things that can affect the LRC price more than anything. These would be the resolution of the conflicts in Europe or their escalation.
If things settle down, we can expect the price of Loopring to go up to $1.15 or more. Keep in mind that this is a somewhat conservative future price of LRC.
On the other hand, if the conflicts further escalate, we can see an additional drop in the market. This will affect the price of Loopring, and it could go for around $0.3.
Things are similar with 2023, although the biggest factor here will be how widely adopted cryptocurrencies will be. Not only by people but also by jurisdictions and institutions.
We believe that the token will start regaining its past prime and go up to around $1.8 or even $2.5.
On the other hand, we could also see a market stagnation, which will lead to LRC being evaluated at around $1.2.
Assuming the market calms down a little, we will see only a slight change in the lower and upper ranges. That would be around a 20% gain or 10% drop in price.
The maximum price will be somewhere between $2.8 and $3.1, while the minimum should be around $1.5.
There isn’t much of a change, but we will need to wait and see what the Bitcoin halving will look like. There’s a chance it will strongly affect the crypto market.
The further we get away from the current time, the more speculative we will be getting. By 2025, we’d hope to see even more adoption of cryptocurrencies. This will be great for literally every token out there that has utility.
Those without utility will surely disappear, as we can see by viewing historical data.
We can expect Loopring price to reach anywhere from $3.5 up to $4 if we are being more optimistic. However, many believe it will have broken the $10 by then, although we do not see how that’d happen.
Nevertheless, we need to make sure to keep the price conservative, which is why we go with $4.
2026 will just further prove whether or not the cryptocurrency market will see greater adoption. We certainly believe it will. Because of that, we can expect the price of Loopring to be strongly supported at around $4 while reaching the highest price of $4.7.
This is our price prediction for Loopring for the first year of the second half of the decade.
The greater the adoption of cryptocurrencies gets, the higher the prices will go. That’s because the overall cryptocurrency market cap will proceed to increase. Promising crypto projects such as Loopring will definitely follow the example of the mass.
At that point, we can expect to see Loopring at around $5, with a potential to reach $6.
2028 won’t be too different than 2027. These years are overall great for long-term investors. Hopefully, financial institutions will also want to work hand-in-hand with the crypto space.
Here, we should already have strong resistance levels at around $6, while the price can even go as high as $7.
At this point, we must mention that our conservative approach might not last. That’s because, by 2028, we will see enormous cryptocurrency adoption by both jurisdictions and regular citizens. This will highly affect the price of any cryptocurrency, so at this point, we are simply guessing.
We won’t be surprised if there is some sort of stagnation at the end of the decade. For this reason, we will speculate that the LRC price will stay at around the $7 mark.
This would be a great accumulative opportunity because many will start to sell Loopring due to a lack of volatility. The following year, we can expect a price rise, so let’s see what the beginning of the new decade potentially has in store for us.
For 2030, we will still remain realistic and conservative. However, we will go for a different approach. Because it will be the start of a new decade, the most important thing will be whether or not cryptocurrencies get needlessly regulated or not.
If that happens, the price of most tokens will certainly drop. This will definitely include the current price of Loopring at that time.
So how much will Loopring be evaluated?
Well, we believe that there will be a maximum value/maximum price level for the average trading price of around $8 (although many truly believe it will break the $10 mark).
However, the price of Loopring could also drop big time, and our price prediction might be completely off. At this point, our LRC price prediction will be around $1, which is just 2x above the current price of Loopring. And in the worst-case scenario that Loopring is forgotten, you can expect the price to go for only a couple of cents.
Our Opinion On Loopring (LRC) Price Predictions
Given the Loopring price today, we can make lots of speculations. However, when doing a price prediction or looking at one, you must stay completely aware that most of the time it is completely off.
Although we kept a strong conservative approach with our average forecast price, you should still take this prognosis with a grain of salt.
Stacks is certainly a great project with huge potential, which makes us believe that it will survive throughout the years.
That’s because many who have no understanding of the crypto market are buying Bitcoin. With time, they will definitely be more interested in the space. That’s also when they start learning how to optimize their Bitcoin tokens, which is where Stacks comes into play.
Overall, although we believe Stacks will certainly be bullish and we believe in our speculations, we can never be certain.
Is Loopring (LRC) A Good Investment?
At this point, you might be wondering – is Loopring a profitable investment? Although this is not investment advice, we are willing to share our opinion. However, make sure to do your own research as well.
When looking at the crypto market, you will find a lot of projects who are looking to find solutions to problems that do not exist. Others will create problems in order to present a solution.
And then, there are truly wonderful projects in the crypto and blockchain industry that are going to be the future of the crypto space.
Such a project is Loopring. This alone is a good reason to believe it will succeed. We believe it to be a great investment, especially in the long run. Yet, since anything is possible with the crypto market, things can change in only a couple of months, so make sure to pay attention to Loopring news if you decide to invest.
How To Buy Loopring (LRC)
Thanks to the token’s massive success and popularity, Loopring is listed on most major crypto exchanges and online trading platforms. This means that investing in crypto is not too complex, and you won’t have to go through a lot of unnecessary steps. Below we have provided an in-depth outline of the general steps you will need to take to invest in Loopring and where you can find the token.
Choose A Crypto Exchange Platform
The first thing you will need to do is choose a crypto exchange platform that carries Loopring. Luckily, the token is quite popular and is present on most major platforms like eToro, Binance, Coinbase, Bitstamp, and Kraken.
Create An Account
After you have chosen your trading platform, you will need to create an account if you don’t already have one. This process is usually pretty straightforward and usually takes only a couple of minutes. However, you will need to provide personal information such as full name, date of birth, email address, and country of residence.
Verify Your Account
Once you have set up your account, you will also need to verify your identity. This process is a bit lengthier and requires some additional information. Generally, the platform will require that you provide copies of your photo ID, proof of address, and other documents. This is in accordance with Know Your Customer (KYC) laws which aim to prevent fraud.
Deposit Fiat Currency
Next, you will need to deposit funds into your account. You will use these to purchase Loopring tokens. The amount you can deposit will depend on the crypto exchange platform you are using and the number of coins you wish to purchase. Each platform will support different payment methods and have varying minimum requirements.
Once you have supplied your account with sufficient funds, you can purchase your Loopring coins. Head over to the markets or crypto exchange section of your platform and search for the LRC symbol. Once you have found Loopring, place an order for as many tokens as you would like to buy. Alternatively, you can input how much fiat currency you would like to spend, and the system will show you how many tokens that translates to.
(Optional) Move Your Loopring Tokens To An External Wallet
Once you have purchased your Loopring, you have the option to move it to an external third-party wallet. While you can easily store your cryptos in your exchange profile, a dedicated wallet is much more secure. Most platforms allow you to easily transfer your cryptos by linking a dedicated wallet to your exchange account. Alternatively, you can do it manually by transferring them to your wallet’s public address.
When looking at the crypto market, a couple of types of projects stand out. Those are the big players – Bitcoin & Ethereum; the meme coins – Dogecoin, Shiba Inu Coin; and projects with purpose – Polkadot, Solana, Monero, and many others. Thankfully, we can easily include Loopring in the final category.
Nowadays, as we already mentioned, most projects have no future and potential. Even some within the top 100 by market cap will be gone in a couple of months. That’s why finding a niche and purpose when developing a project is so important for its longevity.
This is exactly the reason Loopring is going to keep growing – it has no direct competition and has a clear objective.
For this, and many other reasons, we believe Loopring is a valuable asset to have. Not only that, but its price evaluation will continue to grow once everything settles down.
We also strongly believe that our price predictions for Loopring are mostly accurate. That’s due to the conservative and realistic approach we kept throughout the way. Although we are open to the idea that these are the lowest levels it will reach, we believe keeping it simple is more important.
At the end of the day, however, these are only speculations, so keep that in mind.
We can’t wait to see what awaits in the future for Loopring, which is exactly why we will be keeping you updated.
Loopring Price Prediction FAQ
You can easily buy Loopring on most major crypto exchanges and online trading platforms. We recommend using eToro.com. Etoro is one of the world’s largest trading platforms, allowing you to invest in a variety of assets. These include stocks, commodities, forex pairs, crypto, and much more. The platform is also incredibly easy to use and user-friendly.
We believe that Loopring has a bright future ahead of it. If its price continues to follow the same trends as it has this far, then it will continue to reach new rights. We are optimistic about this as Loopring has a lot of utility, and its functions can be applied in a number of ways.
We believe that the $5 mark is a completely realistic future price for Loopring. The crypto can be utilized in a number of ways, giving it great potential for future applications. It has also steadily increased in price over the past years and will likely continue to do so in the future.
At the time of writing, the crypto market as a whole is experiencing a bear run. This means that prices across the board are down and so is volume. As such, many investors are refraining from investing in most assets. However, a bear market can be an ideal time to invest as it offers lower prices. Buying now and holding until prices increase in the future is a completely feasible investment strategy.