Many may still not know about Loopring (LRC) but this asset recorded a higher movement than Dogecoin (DOGE) and Shiba Inu (SHIB) in just one month.
While SHIB and DOGE recorded price increases of 91% and 10% over 30 days, LRC recorded an increase of over 790% over the same period.
Analysts assume these assets will continue to record surges for the long term.
This expectation was also attributed to LRC’s good performance earlier this week as other crypto assets recorded the opposite movement.
A tweet from Twitter account owner @dejandefi revealed the LRC movement was somewhat driven by increased investor interest in the ‘agreement’ between Loopring and GameStop regarding non-fungible tokens (NFT) that was leaked on GitHub.
$ LRC new Loopring x $ GME code leak. At this point, it isn’t even speculation anymore. pic.twitter.com/dMvrCOE1qk
- Dejan (@dejandefi) November 3, 2021
Loopring was founded by Daniel Wang who served at several large firms such as Google and JD.com.
In a nutshell, Loopring is a software -based project that allows multiple crypto exchanges to be developed on the Ethereum network. It offers solutions to decentralized exchanges (DEXs), covering the issue of expensive and slow transactions.
At the time of writing, LRC is trading at $ 3.27, up nearly 16% in 24 hours.
The asset posted an all -time high (ATH), $ 3.83 last night, making a 16.75% decline based on current records.
