Loopring is making headlines today as the crypto markets rebound. The popular decentralized exchange protocol is seeing renewed interest from traders and investors alike.
So what’s driving the hype around Loopring? Let’s take a closer look.
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Cryptocurrencies are rebounding today after a sharp sell-off yesterday. The total market capitalization of all digital assets is now $2.09 trillion, up from $2.04 trillion yesterday.
Bitcoin, the world’s largest cryptocurrency by market value, is currently trading at $57,354, up 5% from its low of $54,828 yesterday. Ethereum, the second largest cryptocurrency, is also up 5% at $2,034.
Among the top 10 cryptocurrencies by market value, all are in positive territory today except for XRP, which is down 1%. Litecoin is up the most, rising 8%.
The rebound in cryptocurrency markets comes as traditional financial markets are also rallying. U.S. stock indexes are set to open higher today following yesterday’s sell-off. The Dow Jones Industrial Average fell 1%, while the S&P 500 and Nasdaq Composite Indexes each declined 2%.
Loopring in the News Today
Loopring is a decentralized exchange protocol on Ethereum that enables the trustless exchange of ERC20 tokens. The project raised $45 million in a token sale in August 2017 and has since then been working on the development of its protocol. The Loopring team has now released the much-anticipated Loopring 3.0, which promises to be a major upgrade to the protocol.
Crypto Markets Rebound
Crypto markets have seen a much-needed rebound today as Bitcoin bounces back above $4,000 and the altcoin market capitalization sees green.
Bitcoin (BTC) is up over 5% on the day, trading at $4,070 at press time, according to CoinMarketCap. The leading digital currency has seen a slight uptick in trading volume over the past 24 hours, with some $5.7 billion worth of BTC changing hands in that time.
Ethereum (ETH) is also up today, trading at $133 at press time, up nearly 7% from its 24-hour low of $125. ETH is currently the second-largest cryptocurrency by market cap, with a total value of just over $13 billion.
The altcoin market cap has also seen a significant uptick today, rising from its 24-hour low of $116 billion to its current value of nearly $123 billion. Among the top 10 cryptocurrencies by market cap, all are seeing green at press time with gains ranging from 2% to 7%.
The cryptocurrency markets have been on a roller coaster ride over the past few weeks, with prices plunging to new lows earlier this week before starting to rebound today. It remains to be seen whether this rebound will stick or if crypto prices will continue to experience volatility in the days and weeks ahead.
Loopring Foundation Establishes Partnership with Binance Charity
The Loopring Foundation has announced a partnership with Binance Charity, the philanthropic arm of cryptocurrency giant Binance, to support its work in blockchain-enabled charitable giving and social good.
Under the partnership, the Loopring Foundation will donate 1 million LRN tokens to Binance Charity, which will use them to support its work in areas such as education, health care, and environmental protection. The donation is part of the Foundation’s ongoing commitment to supporting charitable causes and social good initiatives.
“We are excited to partner with Binance Charity to help further their mission of using blockchain technology to power philanthropic initiatives and make a positive impact on the world,” said Daniel Wang, Founder and CEO of Loopring. “This donation is a reflection of our foundation’s values and our belief in the power of blockchain technology to change the world for the better.”
Binance Charity was founded in 2018 with the goal of using blockchain technology to empower social good initiatives around the world. To date, it has supported projects in areas such as education, health care, and environmental protection.
“We are thrilled to partner with the Loopring Foundation to further our mission of using blockchain technology for social good,” said Helen Hai, Head of Binance Charity. “This donation will help us continue our work in supporting charitable causes around the world.”
Overall, the crypto markets have had a positive day, with most major coins in the green. The biggest winner appears to be Ethereum Classic, which is up over 8% at the time of writing. Loopring is also up over 5%.