Loopring price skyrockets over 250% in three days as LRC fundamentals point to further gains

  • Loopring price exploded in the past three days due to high Ethereum gas fees.
  • Loopring is a Layer2 scaling solution and its final version is expected to be launched on March 15th.

In the past several days, the average gas fee that users have been paying on the Ethereum network exploded. A normal trade on Uniswap was averaging $60 and other DeFi tasks could cost as much as $100 which made it practically impossible for small holders to move their tokens around. 

Loopring price gains traction thanks to low fees

One of the main benefits of Loopring is that it uses no gas and only charges a small 0.25% fee. Many investors have noticed it and shifted their focus on LRC as it seems to be a potential solution to Ethereum’s high fees. 

lrc price

LRC/USD daily chart

Loopring price was around $0.175 on January 3 before the massive rally towards $0.621. The digital asset continues trading at $0.55 at the time of writing. Several on-chain metrics have turned positive for LRC.

lrc price

LRC Holders Distribution

It seems that the number of whales holding at least 10,000,000 coins has exploded from 20 on January 3 to 27 currently. A significant increase which indicates they expect the price to rise even higher. 

lrc price


The In/Out of the Money Around Price (IOMAP) chart suggests that LRC bulls face very little resistance to the upside compared to the support below. However, the price is overextended at the moment.

It seems that LRC would need a pullback soon to remain in a healthy uptrend. According to the same IOMAP chart, a potential dip towards the crucial support area between $0.43 and $0.448 could be likely in the short-term.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Chainlink to present buy opportunity before LINK rises to $38

Chainlink price could create one of the most sought-after bullish entry setups in Point and Figure analysis: the Bullish Catapult. However, buyers must keep Chainlink above a certain price threshold, or the pattern will be invalidated.

More ChainLink news

SafeMoon bulls look for a breakout to $0.0000024

SafeMoon price is one of the best performers of the day, with moves as high as 13% above the open. While the breakout above $0.0000019 is bullish, momentum must be maintained to push SafeMoon above the Cloud to create clear bullish ...

More SafeMoon news

Top 3 Price Prediction: Investors prepare to sell on ETF news

Bitcoin price has historically sold off during the opening of any new derivative futures contract. Will this behavior continue? Ethereum price struggles to cross above the critical $4,000 level and may be held back pending any Bitcoin weakness.

More Bitcoin news

Cardano price to tread water soon, breaking below $2

Cardano price sees bears pushing price action further to the downside. ADA price has tested $2, but with lower highs, Cardano price is getting squeezed lower. The pivotal level at $1.89 could make or break the uptrend. Cardano price has been trying to recover ...

More Cardano news


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast