Loopring is an open source protocol ‘ZK-Rollup’, between Ethereum’s collection of smart contracts and ZK circuits, is also the first merger used in Ethereum and brings the ecosystem into the era of Layer 2 (L2) scaling.
Launched in 2017 by Daniel Wang.
The August trading session, Loopring produced over 150% jumps reaching the latest high of $ 0.60.
Recently, Loopring announced a statement on twitter that they now support NFT as printing, trading and transfer under layer 2 (L2).
We are super excited to announce that we are bringing #NFTs to Ethereum Layer-2🔥
We are exploring partnerships + multiple use-cases to unleash the full potential of NFTs using the speed, scalability + security of #zkRollups✨
Read more👇https: //t.co/iClixsWPpT
- Loopring (@loopringorg) August 24, 2021
Next, examine the current movement chart of the LRC/USDT price.
LRC is seen to have seen good price potential in recent times has been the focus of investors.
From a technical point of view, the LRC price movement seems to be in a bullish trend and is hovering towards the $ 0.60 resistance level.
As for the next expectation, if the price movement remains witnessing a bullish trend, it should test the $ 0.60 resistance level first before making a higher rise.
However, if the price movement shows a bearish trend, the price movement will test the RBS zone (resistance become support) around $ 0.45 before continuing the decline to the lowest level ever recorded.
At the time of writing, LRC/USDT is trading at around $ 0.50 up over 9% in the last 24 hours. Coins are currently ranked 112th in the crypto market.
