There was some fear in the market as Bitcoin hovered around the $40k mark. The stock markets have also not been extremely bullish. In fact, it can be argued that Bitcoin is following in the footsteps of major stock indices and moving sideways in the fast couple of days.

Loopring is a leading layer 2 blockchain project that is in the Decentralized Finance (DeFi) and non-fungible tokens (NFT) projects. The network has seen robust growth this year even as the cryptocurrency industry has struggled. In its second-quarter report, the developers said that the number of smart contract wallets rose to over 130k while the volume of trades rose to over $5 billion.

Loopring was riding high with the bulls on 19 April, with the rest of the cryptocurrencies contributing to the broader market growth.

Loopring (LRC) had emerged as one of the top-performing coins in 2021. In fact, the altcoin went on to hit its all-time high of $3.86 in November last year. But after that, it’s been free fall for LRC. However, the coin appears to be nearing a decisive bullish breakout in the coming days. Here are some highlights:

Loopring (LRC) is an Ethereum-based token used as an open protocol platform for building decentralized (Defi) cryptocurrency exchanges.

One of the big sleeper hits in the crypto class is revealing itself to be Loopring (CCC:LRC-USD). The scalability network is seeing quite the price boom over the latter half of 2021. Chalk it up to the interest in scalability or the rumors that Loopring can’t escape surrounding its relationship with GameStop (NYSE:GME). Either way, don’t expect the hype to die down just yet. With the launch of the Loopring wallet today, excitement is only building further for the network.

Loopring, the poster boy of scalable Ethereum-based solutions is having a tough time of late. Back towards the end of ‘Uptober‘ 2021, LRC had rallied just shy of 1000% in a matter of two weeks. But since then, it has had a huge fall. It practically slid down a slope of valuations and is currently standing at a meager market capitalization of ~$660 million.

LRC is decreasing underneath a descending resistance line.

Loopring is about to set an example as the first token to completely eliminate the impact of the bears with the help of one of the biggest names in the gaming industry.

Over the daily price chart, the loopring price is attempting to recover from the consolidation period. Initially, a descending triangle pattern over the daily chart caused the token to fall through. Then after LRC currency began consolidating at the lows of 2021 and has been in the range-bound region ever since. For Loopring pricing to exit the consolidation phase, more buyers are needed. The coin has effectively regained strength up to the 20 EMA and is going for the remaining bullish barriers of the 50, 100, and 2000-day daily moving averages. However, LRC must maintain the current uptrend momentum to register its breakout from the range-bound area.

The company posted a loss of $1.94 per share in the fiscal fourth quarter, compared to a $0.85 gain predicted by analysts. On its results call, the company stated that it believes the NFT market has long-term potential.

Bitcoin’s losses since April have had a strong impact on the price action of Loopring. Loopring was trading above $1 in March 2022, but it was quickly forced to cede all the territory gained in March back to the bears.

Loopring [LRC], the zkRollup layer2 on Ethereum [ETH], which intends on making the blockchain more accessible, continues to push its development. However, on the investor front, this network doesn’t seem to be making any strides. In fact, the beginning of July has marked one of the worst days for the LRC token.

After sliding 15% lower on Monday, the Loopring price is remarkably quiet so far today. But something tells me that won’t last for long.

LRC, the native token of Ethereum scaling network Loopring, soared in digital-asset markets on Wednesday after the blockchain project shared an update on its partnership with GameStop (GME), the video game retailer whose volatile and sometimes coordinated price action in early 2021 made it a darling of meme stock traders.

LRC is among the biggest gainers after rallying by more than 27% over the last seven days while most of the top cryptocurrencies were stuck in a narrow range. The rally comes amid an important loopring development but it looks like it might be due for some more upside thanks to a major milestone this week.

If you believe the future of finance is on Ethereum, your confidence may have been tested by transaction fees of up to $200 and the blockchain’s limit of 14 transactions per second.

Loopring, the poster boy of scalable Ethereum-based solutions is having a tough time of late. Back towards the end of ‘Uptober‘ 2021, LRC had rallied just shy of 1000% in a matter of two weeks. But since then, it has had a huge fall. It practically slid down a slope of valuations and is currently standing at a meager market capitalization of ~$660 million.

The integration should allow users to mint NFTs for less than $1 while inheriting Ethereum's security.

The cryptocurrency market has recovered slightly on Monday, and with Bitcoin trading above $30,000, many altcoins are following suit. Loopring (LRC) stands out as a top gainer during the past 24 hours, having made an 8.1% surge during the past 24 hours.