Loopring (LRC) May 6, 2019 Week In Review: Price Up 0.42%


Price Action

Over the past week, Loopring saw its price go up by 0.42%. It is below its 20 day moving average by 8.93%, so it’s somewhat away. Loopring’s bullish momentum, if assessed by its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. Now when considering volatility, Loopring is more prone to sizable price moves than 73% of coins in our index, so traders can expect a bit more volatility than usual. Based on volatility over the past three weeks, we can expect Loopring to experience a price range in US dollars between 0.049752 and $0.075827.

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 4,102,740 and 14,806,225. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Loopring experienced a turnover rate of about 1.13% 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 39.58% of the cryptocurrencies in our index, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.

Engagement Update

The number of wallets holding Loopring went from 71,867 to 71,900 in the past week, marking a change of 0.05%. As for overall transactions, they increased from 509,226 to 510,644 — an increase of 0.28%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Loopring is thus at 0.33% which, relatively speaking, is ahead of 12.50% of the cryptocurrencies we’re tracking. This could indicate that the coin’s usage is not growing much at all.

Technology Development Status

At the moment, Loopring has 30 repositories open to the public on GitHub, with the oldest one now being 1.87 years young. Its last public update to any of its repositories was within the past week which is not bad, as the coin is still being updated routinely. Loopring’s public repos now have 297 which is below average relative to its peers; that’s more than only 37 % of the 100 similar coins in our index. The coin has 68 total outstanding issues across all 30 of its public repositories on GitHub. 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 27% of the coins we group Loopring in.

Where to Buy

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

Article by SixJupiter

Stay up to date on crypto news!

Sign up for our newsletter for all the hottest crypto stories, ICO reviews, and insights from leading experts of the crypto world - four times a week.

You have been signed up!