Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Loopring (LRC): Price Updates, Technical Analysis, Recent Developments, Future Events, Community

CryptocurrencyNov 13, 2021 01:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Loopring (LRC): Price Updates, Technical Analysis, Recent Developments, Future Events, Community

  • Loopring says it “builds protocols, infrastructure, and user-facing products for the future of finance.”
  • Following hints of a possible NFT marketplace launch, rumors have emerged that Loopring is partnering with GameStop (NYSE:GME).
  • The rumors have seen Loopring (LRC) rally by more than 200% to peak at $3.83 on November 10th.
  • To involve its community in the project’s decision-making, Loopring will be launching the Loopring insurance fund and DAO in 2022

Loopring is an Ethereum-based project that aims to generate a global network of users. Launched in 2017, the Ethereum-based project has worked to overcome the low efficiency and high costs of decentralized exchanges.

Loopring prides itself on being an Ethereum layer two (L2) platform which integrates zkRollup to achieve very high speeds, settling 2,025 trades per second, while also remaining secure. So, how has Loopring been performing in recent times?

Recent Developments

There have been numerous whispers surrounding Loopring, especially after the Loopring Foundation announced that it would soon be launching an NFT marketplace. Rumors that Loopring is partnering with GameStop on an upcoming NFT marketplace have been prevalent, leading to Loopring (LRC) hitting a new all-time high.

According to these rumors, GameStop (GME) is reportedly working on an NFT marketplace powered by Loopring technology. While these reports have been swirling around the internet over the last few weeks, nothing has yet been confirmed by either Loopring or GameStop.

On November 3rd the Loopring network’s VIP tier system was updated. VIPs now enjoy discounts on trading fees as low as 0.1%, while makers can enjoy free trading, as well as a rebate of 0.02% on trading volume.

Loopring calculates its VIP levels by the accumulated 30-day transaction volume and/or the LRC balance of a user’s L2 account. Discounts increase as users climb higher through the VIP tiers. The rules for the Loopring VIP levels are as follows;

According to the Loopring foundation, the new VIP system will better integrate and align LRC token utility into the Loopring ecosystem.

Future Events

The Loopring Foundation has announced that the Loopring insurance fund will be launching in 2022. LRC holders who join the insurance funds will receive 10% from the distribution of the Loopring protocol fee.

According to the foundation, the Loopring insurance fund will be based on Aave’s safety module because those contracts are “battle-tested and serve the purpose perfectly.” The insurance coverage period will be 14 days.

The Loopring community is anticipating the launch of the project’s DAO. Initially scheduled to launch in Q3 of 2021, the Loopring DAO is now set to launch in 2022. 10% of all Loopring (LRC) has already been set aside for the Loopring DAO.

When launched, the DAO will decide how funds relating to buyback and burn, impermanent loss protection, further liquidity incentives, and grants on the Loopring network will be spent. The Loopring DAO will also manage the protocol’s fee percentage.

LRC holders will form the Loopring DAO and decide changes on the network by voting. The Loopring Foundation has previously stated that the DAO will control and govern several parameters, such as:

  • The distribution proportions of protocol fees to different participants.
  • What the DAO does with its own proportion of the funds.
  • The protocol fee percentage (between 5% to 20% of relayer fee).
  • Insurance fund covered event triggers.
The Loopring insurance fund and the DAO will help the network include its community in the project’s decision-making. Once both products have been launched on the network, Loopring will need to reach a consensus, as a community, on what to do with that 20%.

On The Flipside

  • There is no fixed date for the launch of the Loopring insurance fund and the associated DAO.
  • Given Loopring’s record of failing to follow its roadmap, users may need to wait longer than expected.

Price Updates

While the crypto market has been performing very well, with Bitcoin and Ethereum both soaring to new all-time highs, Loopring has outperformed most of the market. The price of Loopring jumped by nearly 60% to peak at $3.83 on November 10th.

The five day price chart for Loopring (LRC). Source: Tradingview

The Loopring price rally began after reports emerged that Loopring would be partnering with GameStop on an upcoming NFT marketplace. At the time of this writing, Loopring (LRC) is trading at $3.31542.

Technical Analysis

At the start of November, LRC traded at $0.6316 before rallying all the way up to $3.83. Over the last seven days, the price of Loopring has risen by more than 200%, making it the best performing crypto project in the top 50.

Following this strong performance, LRC is experiencing a brief correction, with Its current price of $3.31542 putting LRC in a critical zone. If the correction continues, the price of LRC could drop to its support line at $3.15.

If the rally reignites, LRC could push to reclaim its all-time high at $3.83 before retesting a resistance level around $4.4.

In the case of an extended rally, should the rumors of a GameStop partnership turn out to be true, the price of LRC could surpass $4.4 and even target a higher resistance point at $5.


Loopring may not have the largest community among crypto projects, but its members are dedicated to the success of the project. As LRC racks up gains, crypto analyst and trader, @crypto_stacked wrote;

Since the rumors of GameStop emerged, many users have aimed tweets at GameStop’s account, asking them when they will announce the launch of their speculated partnership. One user, @GenSapiensNFT, wrote;

Loopring (LRC): Price Updates, Technical Analysis, Recent Developments, Future Events, Community

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email