20 Jul 2018 Radostin Spasov
LRC Breaks The Struggling Crypto Market
Recently, the crypto market has put most coins in a turbulent environment, led by the main power in the market - Bitcoin.
The Ethereum-based altcoins, considered as the safer blockchain options, have managed to continue their market expansion.
Following the first slump in late March, when the token's value dropped from $2 to less than $0.30, the LRC coin made a steady recovery progress and broke the $1 mark in early May.
Similar to the rest of the altcoins, it was affected by June’s market changes and the price started to decrease. By the end of June, LRC almost reached the $0.30 level.
Loopring’s team managed to switch the price direction by announcing the successful listing on major cryptocurrency exchanges.
LRC’s listing on Bithumb led to a price increase of 5% in the first 24 hours. The expansion into larger markets created a good short-term effect.
Furthermore, Loopring gathered the eyes of the crypto community with the launch of its mainnet. This came as a surprise - the release was planned for the autumn, according to LRC’s roadmap. This undoubtedly raised high interest levels among the community members.
Another key event that helped the currency to resist is the implementation of the Loopring protocol in other crypto projects. Modern Finance Chain announced a partnership with the LRC network to drive its own agenda in the pre-ICO stage.
This move allowed the LRC coin holders to invest some of their assets in a new crypto, during its preparation stage. The MF Chain team stated that their partnership with Loopring is a strategic move for their development.
The partnership highlights further the promising future of the LRC protocol, which is already considered as a high caliber factor on the cryptomarket by the start-up teams.