Loom Network (LOOM): strong fundamentals, exchange listing fuel a 242% rally

Loom Network (LOOM): strong fundamentals, exchange listing fuel a 242% rally
фото показано с : invezz.com

2023-9-29 12:45

In the fast-paced world of cryptocurrencies, few projects have managed to capture the attention of traders and investors like Loom Network (LOOM) has in recent days. The Ethereum-based altcoin kicked off the month of September trading at just $0.038 per token.

However, in a mere 25 days, it has experienced a meteoric rise, reaching an impressive high of $0.13. This represents an astounding 242% increase in value. But what is driving the Loom Network price surge, and is it sustainable?

Loom Network price chart Strong fundamental backing

At the heart of LOOM’s rally lies a robust foundation. It is a multi-chain interoperability platform designed to revolutionize the world of decentralized applications (DApps). Unlike many other tokens that rely solely on market sentiment, LOOM’s value is deeply intertwined with its utility.

The utility of LOOM extends far beyond speculative trading. It serves as the backbone for securing Loom Network’s mainnet, Basechain.

Developers also leverage LOOM tokens to pay for hosting their DApps on Basechain, creating a symbiotic relationship between the token and the platform. Validators and delegators play their part by staking LOOM tokens, fortifying the network’s security.

Loom Network (LOOM) token listing on Gate.io

Another pivotal moment in LOOM’s recent surge was its listing on Gate.io, a prominent global crypto exchange.

Exchange listings provide increased liquidity and accessibility, making it easier for traders and investors to engage with the asset. Gate.io’s decision to list Loom Network (LOOM) undoubtedly contributed to the coin’s heightened visibility.

Notably, LOOM’s price reached levels not seen since December 2021, briefly surpassing $0.126 before experiencing a minor correction. On September 26, Santiment highlighted a decrease in the ratio of LOOM on exchanges, indicating the possibility of an extended rally.

🥳 The price of @loomnetwork has hit its highest level since Dec, 2021, reaching just above $0.126 before a mild correction. The ratio of $LOOM on exchanges has actually dropped 20.8% to 14.9% over the past 5 days, suggesting this rally could be extended. https://t.co/0tXRKVDWLC pic.twitter.com/W9nffJhefO

— Santiment (@santimentfeed) September 26, 2023

However, while the surge of Loom Network’s native token, LOOM, seems not to be merely a speculative pump-and-dump scenario, caution is advised with any cryptocurrency investment, given the inherent volatility of the market.

The post Loom Network (LOOM): strong fundamentals, exchange listing fuel a 242% rally appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Loom Network (LOOM) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1192
Капитализация $0 Rank 99999
Цена в час новости $ 0.1321 (-100%)

loom network days recent like investors ethereum-based

loom network → Результатов: 72


В Loom Network опровергли информацию об экзит-скаме

Разработчики стартапа Loom Network заявили об изменении профиля деятельности, но отвергли ранее распространившуюся информацию об экзит-скаме проекта. Сообщение о том, что Loom Network «мертв», распространил глава криптовалютной образовательной платформы Bitfalls Бруно Скворц.

2020-5-12 10:50


Криптовалютная биржа Сoinbase провела листинг Civic, district0x, Loom Network и Decentraland

Биткоин-биржа Coinbase Pro добавила поддержку токенов Civic (CVC), district0x (DNT), Loom Network (LOOM) и Decentraland (MANA). Inbound transfers for CVC, DNT, LOOM, and MANA are now available. Order books will be in transfer-only mode for a minimum of 48 hours.

2018-12-8 10:45


Loom Network собирает на Kickstarter средства на блокчейн-игру Zombie Battleground

Команда разработчиков из компании Loom Network, создавшая проект CryptoZombies, помогающий пользователям освоить программирование для Ethereum DApps, вышла на краудфандинговую площадку Kickstarter, чтобы за 60 дней собрать $250 тысяч на запуск первой коллекционной карточной игры на блокчейне – Zombie Battleground.

2018-6-18 12:21