Loopring (LRC) April 26, 2019 Weekly Recap: Price Down 23.32%

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Price Action

Over the past week, Loopring saw its price go down by -23.32%. It is below its 20 day moving average by 22.45%, so it’s very far away. Loopring’s bullish momentum, based on its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Regarding volatility, Loopring is more volatile than roughly 95% of coins in our index, so bear that in mind if you decide to trade it. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Loopring in US dollars is expected to be between $0.04955929 and $0.1009147.

Where to trade Loopring (symbol: LRC): Gate, Yobit, Binance, Ethfinex

Volume Update

In the span of the preceding 7 days, Loopring’s daily volume, in terms of its own unit of currency, has fluctuated between 8,824,500 and 20,673,264. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. Loopring experienced a turnover rate of about 1.74% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 45.36% of the cryptocurrencies in our index, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.

Engagement Update

Over the past week, Loopring saw its holders go from 71,859 to 71,867, an increase of 0.01%. As for overall transactions, they increased from 508,368 to 509,226 — an increase of 0.17%. Loopring’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.18% which puts it ahead of 23.53% of the coins in our index. This could indicate that its change in engagement is below average, at least on a percentage basis.

Technology Development Status

Loopring currently has 30 public repositories on GitHub, with the oldest one now 1.84 years young. The last recorded update to its public repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Loopring’s public repositories collectively have a total of 296 watchers, which is below average relative to its peers; that’s more than only 39 % of the 100 similar coins in our index. The coin has 68 issues reported across its public repositories. Relative to the number of watchers it has, though, its open issues count is a bit below average, and thus potentially concerning. We view the ratio of open issues on Loopring’s GitHub repos relative to the number of developers who follow its repos as a way to quantitatively assess the health of a coin’s software development processes, and for Loopring we see that it fares better than only 29% of the coins we group Loopring in.

Loopring News and Commentary

We found one link over the past week about Loopring that we thought was especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.

This Week in Blockfolio Signal — April 19th – Blockfo

Where to Buy

You can trade Loopring, listed under the symbol LRC, through the following exchanges: Gate, Yobit, Binance, Ethfinex.

Article by SixJupiter

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