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42,186 Loopring positions opened on eToro
Loopring is a project founded in China by a former Google software engineer named Daniel Wang, in 2017, with the aim of overhauling the Ethereum blockchain by increasing the speed at which the existing smart contracts systems operate. What sets Loopring apart from other protocols is its claim the platform will eliminate the slow speeds and high costs associated with crypto transactions via the use of Zero-Knowledge Rollups (zkRollups). This system facilitates anonymous transactions which essentially provide a way of authenticating information without exchanging personal details. The native token used within the Loopring project is LRC. While Loopring uses multiple cryptocurrencies, its native altcoin LRC is necessary for key operations on the protocol. The token’s initial coin offering in 2017 raised 120,000 in ether, with a value of around $45 million. As of January 2022, Loopring was ranked as the 71st largest cryptocurrency by valuation, and has a circulating supply of 1.3 billion tokens, and a maximum supply of 1.37 billion tokens. Diversify your eToro portfolio with LRC and other cryptoassets today.