Loopring Lrc Price USD

LRC is the Ethereum-based cryptocurrency token of Loopring, an open protocol enabling the development of decentralised cryptocurrency exchanges.

In 2020, the average daily trading volume of the whole cryptocurrency market ranged between $50 and $200 million. The majority of this trading takes place on centralised cryptocurrency exchanges, which are online platforms run by private corporations that hold user cash and allow the matching of buy and sell orders.

These systems all have a number of drawbacks in common, thus a new sort of exchange — decentralised — has evolved to try to mitigate these drawbacks. However, completely decentralised exchanges have issues of their own.

Loopring's stated purpose is to combine centralised order matching with decentralised on-blockchain order settlement to create a hybridised offering that combines the best features of both centralised and decentralised exchanges.

LRC tokens were made available to the public in August 2017 as part of an initial coin offering (ICO), and the Loopring protocol was initially deployed on the Ethereum mainnet in December 2019.

Daniel Wang, a Shanghai-based software engineer and entrepreneur, is the organization's creator and current CEO. The Loopring Foundation oversees the development of the Loopring protocol.

To know more about the Loopring price prediction, install the top cryptocurrency app CoinGabbar today!