Loopring (LRC) token is noted for its zkRollups initiative in the Defi Space to minimize the number of transactions in the Etherium block chain and thereby reduces the costs and times for the traders.
LRC was a much noted Crypto Token in November 2021 where it pumped a lot and touched its all time high at USD 3.83 on 10 November 2021.
This was also based on the news that LRC would enter into the Metaverse Space and also would enter into a partnership with Game Stop.
As no progress was seen, LRC was started traded with huge sell offs. This also contributed the whole crypto sell offs.
During these times, LRC is trading below is trendline and trading in line with the key read points and resistance.
Many would see this trading this level would be a wonderful utility to buy and it looks see some attractive opportunity.
To me, the projects of LRC are exciting and attractive. Once the Crypto market stabilizes one can book handsome profits in the next bull run if we started accumulate in parts at the current trading levels.
At the time of drafting this article, LRC trades in the range of USD 0.83 with a decent volume.
As witnessed in the Crypto markets, the markets would pump back again.
The dump and pump in the Crypto Markets are much witnessed and inevitable.
We are all expect and anticipate some pumps in the days ahead!
As a quick disclaimer again, please do your own research and take a decision.
