Daily Crypto Update: LRC Rises 0.65 percent in 24 hours!

Daily Crypto Update: LRC Rises 0.65 percent in 24 hours!

Loopring (LRC) has risen 0.65 percent in the last 24 hours. The cryptocurrency saw a low of 0.644850 USD yesterday, May 15, and is now being traded at 0.659199 USD.

What is LRC?

Loopring is an opened source protocol based on smart contracts for decentralized exchanges on the Ethereum blockchain. Loopring allows for multiple exchanges to mix and match orders, off-chain order-matching and on-chain transaction clearing and payment. Loopring is on a mission to become the largest market marker in the growing multi-billion landscape of cryptocurrencies, digital assets and blockchain transactions.

Reasons for the Rise

The main reason behind the rise of LRC is the fact that it is now listed on one of South Korea’s largest cryptocurrency exchanges, Bithumb. Other reasons behind the rise could be the news and media coverage about the cryptocurrency and of course, the volatility of the market.

Other Big Gainers

Since it was yet another red day in the crypto market, there has been just one cryptocurrency apart from LRC which saw a rise in the last 24 hours.

Tether (USDT) has risen up by 0.13 percent in the last 24 hours. While the rise is pretty small, considering the fact that the rest of the cryptocurrencies in the market are in the red, it is a considerable amount of growth for the cryptocurrency.

Biggest Losers

While mentioning the biggest gainers, it is apt to also point out which cryptocurrencies have lost the most in the last 24 hours—especially when you have most of the cryptocurrencies in the market in the red.

Mithril (MITH) has lost 21.00 percent making it the biggest loser in the last 24 hours. It is followed by Mixin (XIN) which has lost 20.65 percent.

Followed by XIN is Enigma (ENG) which has lost 18.19 percent.

The last on our list of biggest crypto losers is SALT (SALT) which has lost 14.95 percent.

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.