Is Loopring [LRC] beginning to show underlying strength despite... - BitcoinEthereumNews.com
TeknolohiyaNagsisimula na bang magpakita ang Loopring [LRC] ng pinagbabatayan ng lakas sa kabila ng...05 / 29 / 2022Balita ng Ethereum ng Bitcoin Loopring, the poster boy of scalable Ethereum-based solutions is having a tough time of late. Back towards the end of ‘Uptober’ 2021, LRC had rallied just shy of 1000% in a matter of two weeks. But since then, it has had a huge fall. It practically slid down a slope of valuations and is currently standing at a meager market capitalization of ~$660 million. Technically speaking, theres little hope for the coin. Down nearly 90% from its all-time-highs, no technical indication points to any kind of meaningful recovery at the moment with the current market-wide bearishness in mind. This is despite the fact that LRC is one of the most used tokens by the top 100 Ethereum whales in the past 24 hours. Metrics say different On-chain metrics for this token seem to suggest a slightly different picture. According to data from Glassnode, the 14-day moving average of the number of active addresses on the chain has seen a major rally despite the falling prices. This is a metric that counts the number of unique addresses that were active in the network either