loopring, Loopring, LOOPRING! 🤑 I've got a great feeling about Loopring(LRC), I think this might be the next to blow up 🤑 Get it before it hits major exchanges!

I wrote about Loopring (LRC) a few days ago when when I first researched it, but the more I dig into it the more excited I am becoming about this project. And I thought Loopring was a steal at $70 million market cap a few days ago when I wrote about it, but with the current altcoin dip it is sitting at $30 million market cap and you can be damn sure I have added (and am adding) to my stack! Loopring is awesome. Let me tell you why.

Loopring
Loopring is a decentralized exchange (DEX) protocol. This means it's not a DEX, but rather a protocol ontop which exchanges can be built, or with which existing exchanges can connect to. Loopring is basically aiming to connect cryptocurrency exchanges together, so one exchange benefits from the liquidity of the other, and it aims to do this in a decentralized way.

An example of a decentralized exchange (of sorts) is Etherdelta. One of the main objections against Etherdelta is that it is slow and has low trading volume. Loopring aims to fix issues like this, by linking such exchanges with others like it. Performing a trade on one exchange could be filled on another exchange and vice versa. This ensures you will always be paying the lowest price available on all exchanges, and when you sell you will always get the highest price across all the exchanges. Existing exchanges can choose to adopt Loopring.

Blockchain Agnostic: Any trading pairs possible
Unlike many other decentralized exchanges or exchange platforms, Loopring will be blockchain agnostic. This means that not just Ethereum and ERC-20 token markets will be possible, but it will be possible to create any sort of pairing you desire: BTC/ETH, ETH/NEO, NEO/WTC, and so on. This is a major benefit compared to other DEX protocols which focus on ERC20 tokens and Ethereum.

Backed by NEO and QTUM
The Loopring project is being supported by both NEO and QTUM, which are the two largest Chinese cryptocurrencies at this moment. It turns out the creator of Loopring and Da Hongfei are personal friends. Take note that in the NEO roadmap it is stated that there will be a decentralized exchange. It seems plausible and likely that the Loopring and NEO projects will intersect in the future.

Team and advisors with great background
You'll find almost nothing but huge names in the resume's of the team and it's advisors. The name that pops up the most is Google, but also PayPal and Bank of China, Alibaba and Baidu. All in all, Loopring is 'inside' the China crypto network circle, if you ask me.

Only got stopped by China FUD
Loopring was listed on Binance last month and was doing great, but shortly after the China FUD happened. Subsequently Binance delisted Loopring. Now it's only available on a select few exchanges like HitBTC and Etherdelta. Word is that Loopring will get (re)listed on exchanges in the coming month. The implication was, I believe, Binance.

Low market cap = undervalued
The market cap is really low, especially during this dip. Currently it stands at $40 million, which is tiny when compared to competitors such as Kyber or 0x. Especially when you consider that Loopring has many things going for it: chinese coin, unique features, backed by big names. I think at this moment Loopring is severely undervalued.

Close to delivery
The roadmap shows that they will be delivering a working product as soon as Q2 2018.

All in all, I'm very excited about this project. I do believe that in the current market, Loopring's market cap should be well over $100 million at the very least, and possibly more if enough hype builds up during the run up. If Da Hongfei is China's Vitalik, then remember what Vitalik's advisory role did for OmiseGO. Da Hongfei doesn't advise on that many projects. I know of one more, which is Binance, and Binance is doing great. I wouldn't be surprised if Binance were to use Loopring's protocol in the future, as part of their own plans for a DEX.

My guess is that when Loopring hits major exchanges again, probably starting with Binance, it's going to go up big time. Especially when China officially stops FUDding and opens crypto markets again.

I've been adding to my stack in small batches, that's for sure. If you are interested in Loopring, check out these links:

Loopring Website
Loopring on Coinmarketcap
Loopring Reddit

You can currently get Loopring on several smaller exchanges, which is a bit of a hassle, I know. Be mindful of withdrawal costs, I've read complaints about a $5 withdrawal fee on HitBTC for example. I personally use Etherdelta for my purchases (only trade there if you've got a hardware wallet), but due to low liquidity I am paying a higher price than on other exchanges.

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