Daily Crypto Update: LOOM Rises 46 percent in 24 hours!
Loom Network (LOOM) has risen 46 percent in the last 24 hours. The cryptocurrency saw a low of 0.281842 USD yesterday, May 1, and is now being traded at 0.417619 USD.
What is LOOM?
Loom Network is a Platform as a Service (PaaS) which allows running of Ethereum-based Solidity apps on private, permissioned and public chains. It helps DApps run faster and cost lower when there is no need for full security of the blockchain for operations. LOOM also allows DApps to have free trials which would help in attracting new users among many other great features.
Reasons for the Rise
The crypto market is unpredictable and while there isn’t a specific reason for the rise of LOOM, one may accredit the substantial rise to the announcement and recent addition of the cryptocurrency to Binance.
Other Big Gainers
Fusion (FSN) has risen up by 22 percent in the last 24 hours, while ReddCoin (RDD) has seen a growth of 21.78 percent.
Zilliqa (ZIL) is another cryptocurrency to have risen considerably in the last 24 hours with an impressive growth of 19.46 percent.
Mithril (MITH) rose by 18.61 percent in the last 24 hours while Stratis (STRAT) has risen by 13.99 percent in the same time.
While mentioning the biggest gainers, it is apt to also point out which cryptocurrencies have lost the most in the last 24 hours.
Bitcoin Private (BTCP) has lost 8.82 percent making it the biggest loser in the last 24 hours. It is followed by Centrality (CENNZ) which has lost 3.22 percent.
Followed shortly by CENNZ is aelf (ELF) which has lost 2.94 percent.
The last on our list of biggest crypto losers is Decred (DCR) which has lost 2.30 percent.