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Loopring (LRC) Listed on Bithumb, Up 5% In Bear Market

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The crypto markets are generally in the red, but Loopring (LRC) has overcome the generally downward direction to be trading at $0.70 and up 4.98% in 24 hours. The reason for this good performance amidst the general decline in the crypto markets is the announcement that LRC is now available for trading on the popular South Korean exchange, Bithumb.

The announcement was made by the founder of the Loopring Foundation, Daniel Wong.

In the medium post, Mr. Wong had this to say about the listing:

“Loopring’s protocol token on Ethereum, LRC, was just listed by Bithumb, the 6th largest crypto-exchange world-wide. Thank you, Bithumb.”

Bithumb is one of South Korea’s most popular exchange and this is evident it its daily trade volume. At the end of 2017, the site had a daily turnover of approximately $1.3 Billion. That level has since declined in tune with the general decline in the markets, and currently has a daily trade volume of $789.5 Million at the moment of writing this. Bithumb is currently ranked 6th on coinmarketcap.com and according to exchanges that charge trading fees.

The other South Korean exchange that is currently doing more in terms of daily trade volume, is Upbit which is ranked fifth on coinmarketcap.com. The exchange has a daily trade volume of $982 Million.

The listing of LRC on the exchange adds to the much-needed liquidity of the token for trade in the crypto-markets. LRC is now available in 32 exchanges. This is impressive on an individual token level but considerably lower when compared to The King of Crypto, Bitcoin, that is available in 400 exchanges.

Loopring is a token, a protocol as well as a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counter-party risk and reducing the cost of trading. It does this by pooling the liquidity of cryptocurrencies possessed by users on the platform and breaking orders into smaller pieces that are placed across all market venues simultaneously. It identifies the best exchanges and times to trade hence optimizing trading results.

The protocol is able to do this since it is blockchain agnostic. This means that it can integrate with any other blockchain protocol in the crypto-verse. It is based on the Ethereum ERC20 protocol, making it easier for tokens created on the same ERC20, to be easily traded using Loopring.

The project and token are relatively new in the Crypto-verse. Evidence of this can be seen on the token’s price charts that only date back to August last year. An updated whitepaper is now available on the Loopring website.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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