Discover LRC, the DeFi Loopring protocol token, its price and how to buy it
05 Feb, 2023
LRC is the Loopring protocol token. Loopring was created with the aim of boosting the creation of decentralized exchanges, making the cryptocurrency trading faster and without any in...
Information about LRC, the Loopring token
How much is a Loopring (LRC)?
In June 2022, the price of a unit of LRC was approximately 0.40 USD, subject to market variations. LRC has a maximum supply limited to approximately 1.374 billion units. Of these, 1.33 billion units, or 97% of the total, are in circulation.
How does a DeFi protocol work?
DeFi protocols aim to facilitate the use of crypto assets without any intermediation through smart contracts. Smart contracts are software programmed to run automatically when a series of criteria are met. In this way, the security of these protocols is guaranteed. It is possible to carry out several operations in DeFi, such as sending and receiving assets, making loans, leveraging investments, among others.
Is Loopring (LRC) a cryptocurrency?
LRC is a token. Technically, for an asset to be considered a cryptocurrency, it must be a native token of its own blockchain. Thus, Ether (ETH) is the cryptocurrency of the Ethereum network, ADA of the Cardano blockchain, and Bitcoin of the homonymous blockchain. However, blockchains can serve as a basis for other projects such as Loopring. So, technically, LRC is not a cryptocurrency, although it is a crypto asset.
Where to buy LRC?
LRC can be purchased on exchanges like Bitso. Make an initial deposit of 5 USD on the Bitso app or website to purchase LRC or other cryptocurrencies.