{"id":31468,"date":"2023-10-26T01:53:07","date_gmt":"2023-10-26T05:53:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31468"},"modified":"2023-10-26T01:53:07","modified_gmt":"2023-10-26T05:53:07","slug":"loopring-going-multi-network-will-lrc-prices-explode","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/26\/loopring-going-multi-network-will-lrc-prices-explode\/","title":{"rendered":"Loopring Going Multi-Network, Will LRC Prices Explode?"},"content":{"rendered":"

Loopring, the layer-2 decentralized exchange (DEX) for Ethereum that uses zk-Rollups, is going multi-network, subsequently expanding its core pillars to four, following a recent update. In a Medium post<\/a> on October 24, the platform said as part of this change in approach, they will be expanding the functionality of their Loopring Dapp.\u00a0<\/p>\n

Loopring Going Multi-Network: Will This Spark Activity?<\/h2>\n

Under Loopring\u2019s new shift, there will be two parts of the Dapp in Loopring Pro and Earn functionalities. Furthermore, the Dapp\u2019s Smart Wallet will become multi-network, opening up more users in diverse but supported platforms.<\/p>\n

Loopring Dapp was one of the three core pillars in the previous setup. Specifically, the Loopring zk-Rollups protocol formed the core infrastructure through which the layer-2 solution will scale all their products while relying on Ethereum\u2019s security.\u00a0<\/p>\n

Loopring Pro Dapp was a portal through which decentralized finance (DeFi) users would interact with the Loopring DEX and other services. On the other hand, the Loopring Smart Wallet will be a tool where users can store assets securely. This wallet is baked into Loopring Pro Dapp.<\/p>\n

Following the announcement, the team said the Loopring Earn DApp will serve as the \u201clighter\u201d version of the Pro service on the platform. A notable difference is that it has been reworked to be more customizable and can be deployed in any other compatible network via the Loopring zk-Rollups protocol.<\/p>\n

The layer-2 protocol continues to build. Presently, the latest iteration of their DEX, version 3.6, the team said, has processed over 12 million transactions, generating more than $6 billion in trading volume. Since launching, the DEX has connected over 210,000 layer-2 wallets.\u00a0<\/p>\n

Even so, the team plans not to build on this update. The strategy will be to deploy on platforms like Arbitrum<\/a>, where it can serve as a layer-2 or layer-3, creating a \u201chighly optimized app-chain experience.\u201d While at it, the team hopes to expand and scale their \u201cnew core products,\u201d creating more opportunities for DeFi users.<\/p>\n

LRC Remains Under Pressure: Will This Change?<\/h2>\n

Following this news, LRC, the platform\u2019s native token, remains on an uptrend, rising with the broader markets. Still, whether the uptick was due to the revival in Bitcoin<\/a> and Ethereum is not immediately clear. However, what\u2019s clear is that the announcement coincided with the rally of BTC above $32,000, registering new 2023 highs.\u00a0<\/p>\n

<\/a><\/p>\n

LRC is at new October 2023 highs, up 20% from October lows. At spot levels, the token is at December 2022 lows and down 62% from February 2023 highs. At 2023\u2019s peak, it changed hands at around $0.50.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Loopring, the layer-2 decentralized exchange (DEX) for Ethereum that uses zk-Rollups, is going multi-network, subsequently expanding its core pillars to four, following a recent update. In a Medium post<\/a> on October 24, the platform said as part of this change in approach, they will be expanding the functionality of their Loopring Dapp.\u00a0<\/p>\n

Loopring Going Multi-Network: Will This Spark Activity?<\/h2>\n

Under Loopring\u2019s new shift, there will be two parts of the Dapp in Loopring Pro and Earn functionalities. Furthermore, the Dapp\u2019s Smart Wallet will become multi-network, opening up more users in diverse but supported platforms.<\/p>\n

Loopring Dapp was one of the three core pillars in the previous setup. Specifically, the Loopring zk-Rollups protocol formed the core infrastructure through which the layer-2 solution will scale all their products while relying on Ethereum\u2019s security.\u00a0<\/p>\n

Loopring Pro Dapp was a portal through which decentralized finance (DeFi) users would interact with the Loopring DEX and other services. On the other hand, the Loopring Smart Wallet will be a tool where users can store assets securely. This wallet is baked into Loopring Pro Dapp.<\/p>\n

Following the announcement, the team said the Loopring Earn DApp will serve as the \u201clighter\u201d version of the Pro service on the platform. A notable difference is that it has been reworked to be more customizable and can be deployed in any other compatible network via the Loopring zk-Rollups protocol.<\/p>\n

The layer-2 protocol continues to build. Presently, the latest iteration of their DEX, version 3.6, the team said, has processed over 12 million transactions, generating more than $6 billion in trading volume. Since launching, the DEX has connected over 210,000 layer-2 wallets.\u00a0<\/p>\n

Even so, the team plans not to build on this update. The strategy will be to deploy on platforms like Arbitrum<\/a>, where it can serve as a layer-2 or layer-3, creating a \u201chighly optimized app-chain experience.\u201d While at it, the team hopes to expand and scale their \u201cnew core products,\u201d creating more opportunities for DeFi users.<\/p>\n

LRC Remains Under Pressure: Will This Change?<\/h2>\n

Following this news, LRC, the platform\u2019s native token, remains on an uptrend, rising with the broader markets. Still, whether the uptick was due to the revival in Bitcoin<\/a> and Ethereum is not immediately clear. However, what\u2019s clear is that the announcement coincided with the rally of BTC above $32,000, registering new 2023 highs.\u00a0<\/p>\n

<\/a><\/p>\n

LRC is at new October 2023 highs, up 20% from October lows. At spot levels, the token is at December 2022 lows and down 62% from February 2023 highs. At 2023\u2019s peak, it changed hands at around $0.50.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31468","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31468"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31468\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31468"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}