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What is Loopring (LRC) cryptocurrency?

Here's what you need to know about Loopring and how it works.

Donovan Erskine

November 10, 2021 9:50 AM

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The world of cryptocurrency is constantly growing, with new coins seemingly popping up every day. One of the newer names on the block is Loopring (LRC), which has seen some massive growth over the last few months. If you’re curious to learn more, let’s take a closer look at Loopring (LRC) and discover more about it.

What is Loopring (LRC) cryptocurrency?

Loopring (LRC) is a cryptocurrency. Like many other cryptocurrencies, it can be bought and sold through Coinbase, a popular trading app. On the Coinbase website, Loopring is detailed as “an Ethereum token that describes itself as ‘an open-sourced, audited, and non-custodial exchange protocol.’ It aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs.”

Loopring (LRC) has been around since mid-2017, but is causing such a stir in 2021 following some tremendous growth over the last couple of weeks. On October 27, Loopring had a value of $0.38 USD. On November 10, it hit an all-time high of $3.46 USD. That’s some huge growth in such a short period of time. Especially when you look at the oceans of other coins that failed to ever get anywhere near the $1 valuation.

On Loopring’s website, we learn even more about the cryptocurrency:

Loopring (LRC) is one of the hottest cryptocurrencies out there right now. The Ethereum-based coin has seen so much growth over the last couple of weeks, that it’s among the most popular tokens on Coinbase. It will be interesting to follow Loopring (LRC) and see how it performs over the next several weeks, following its boom in November. For more on the world of cryptocurrency, stick with us here on Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_