This good spell for Loopring, coincides with their latest announcement, a listing for Loopring on cryptocurrency exchange, Bitthumb.
At the time of writing, Loopring is valued at $0.702 and is up 4.98%. Given that last week, Loopring stooped to a new low of $0.59, you can see that this recent announcement has allowed the currency to make some solid progress. At present, Loopring stands with a market capitalisation of $401,882,520.00 and a trading volume of $58,260,600.00.
Daniel Wang, founder of Loopring has taken to Medium to write a message to the Loopring community (albeit a very short one), Wang has said:
“Loopring’s protocol token on Ethereum, LRC, was just listed by Bithumb, the 6th largest crypto-exchange world-wide. Thank you, Bithumb.”
Bithumb is indeed one of the largest cryptocurrency exchanges in the world, which is clearly why Loopring is seeing such advantages from this recent listing. Moreover, given that the markets are retreating overall, Loopring should be thankful that this listing has given the currency an opportunity to make upwards ground in a time when its rivals cannot. Of course, the market trend will catch Loopring soon enough, hopefully though, through the fact it has made such good progression already, any damage caused by this will be limited, somewhat.
At the time of writing, Bithumb has a trading volume of around $790,768,910.00. Its most popular currency by volume is EOS, taking almost 35% of it.
Overall, this listing has really helped Loopring out here. Through this announcement, Loopring has been able to escape the gravity of the current markets. Whilst any progression it can make now may be short lived, overall, the upward movements Loopring is seeing at the moment should cushion the blow of the market decline, if indeed the downwards trend does continue and does manage to suck Loopring in.
Overall, investors will be very happy right now, Loopring is seeing some great successes. Remember though, the markets are super volatile and this could all change in an instant.