The wallet is available as a Chrome browser extension similar to MetaMask and can be found on the Chrome Web Store or the GameStop website. gamestop chooses Loopring after acquiring Immutable X earlier and promised to launch an NFT marketplace by July during the company’s March earnings release for the last quarter of 2021. Loopring will offer advantageous fees using the technology zero-knowledge (zk) for faster transaction speed.
Therefore, users and players will be able to store NFTs from their web browser. Besides, it can also serve for cryptocurrencies like any other decentralized wallet allowing users to send and receive cryptocurrencies. In the future, the wallet will also be available on mobile on iOS.
Solid Fundamentals for Loopring (LRC)
Despite the fall in the markets, investors did not abandon their positions. In fact, Loopring reported that after the crisis, there were more investors than before, taking advantage of the crypto’s decline.
Over 6,000 addresses have joined the Loopring network since May 9. Despite the coin dropping 80% from its 2021 highs, the total number of Loopring wallets has grown by more than 5,000 in just two weeks.
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Loopring (LRC)- Technical analysis
The Loopring cryptocurrency (LRC) jumped 30% on Monday following the news. It nevertheless lost most of its gains before the end of the day for a jump of 7% in the end. The crypto bounced off the former support-turned-resistance of $0.65. However, several signals argue for the rise of Loopring, including a bullish divergence with the RSI.