Loopring Price Up 7-Fold This Month on GameStop Speculation, Metaverse Bets

Posted on by American Coins & Gold

Loopring Price Up 7-Fold This Month on GameStop Speculation, Metaverse Bets
Loopring (LRC), an Ethereum-based project that allows developers to build their own decentralized exchanges, has jumped a stunning sevenfold in price just this month, nearing a market valuation of $4 billion.Analysts attributed the price jump to speculation ranging from GameStop-related rumors to the project’s potential usefulness in metaverse development.“The sizable and consistent leaps over the last two weeks have brought LRC onto the radar of traders looking for the next scalp,” said Dragos Dunica, co-founder of DappRadar, a data and analysis website specializing in decentralized applications.Loopring says it aims to create an interconnected system of trading platforms where buyers and…