$ 0.044885 USD
$ 0.044885 USD
$ 76.956 million USD
$ 76.956m USD
$ 5.78 million USD
$ 5.78m USD
$ 37.122 million USD
$ 37.122m USD
1.24 billion LOOM
Issue Time
2018-03-15
Platform pertained to
--
Current coin price
$0.044885USD
Market Cap
$76.956mUSD
Volume of Transaction
24h
$5.78mUSD
Circulating supply
1.24bLOOM
Volume of Transaction
7d
$37.122mUSD
Change
24h
+5.31%
Number of Markets
166
Current Rate0
0.00USD
3H
+3.23%
1D
+5.31%
1W
-4.38%
1M
-5.07%
1Y
+11.85%
All
+12.58%
Aspect | Information |
---|---|
Short Name | LOOM |
Full Name | Loom Network Token |
Founded Year | 2018 |
Main Founders | Matthew Campbell, Luke Zhang, and Dmitry Starodubcev |
Support Exchanges | Binance, Huobi, and Upbit |
Storage Wallet | Metamask, Loom Basechain Wallet |
LOOM, which is short for Loom Network Token, is a type of cryptocurrency that was founded in 2018 by Matthew Campbell, Luke Zhang, and Dmitry Starodubcev. It is currently supported by various exchanges, including Binance, Huobi, and Upbit. Users can store LOOM in several types of wallets, two of which are Metamask and Loom Basechain Wallet. The primary purpose of LOOM is to offer scalable, efficient and secure blockchain solutions.
Pros | Cons |
---|---|
Scalable blockchain solutions | Reliance on third-party exchanges |
Supported by multiple exchanges | Potential security concerns |
Multiple wallet storage options | Relative newness in the industry |
Efficient transaction processing | Requires knowledge of blockchain systems |
Loom Network's price is projected to oscillate between $0.1102 and $0.1511 in 2030, with a potential peak at $0.1511 and a low at $0.1102. By 2040, the forecast suggests a trading range for LOOM from $0.2050 to $0.2614, with a maximum value of $0.2614. In 2050, technical analysis predicts Loom Network's prices to range from a minimum of $0.2990 to a maximum of $0.3716, with an average trading cost of approximately $0.3066.
LOOM Network Token offers a notable innovation in the field of blockchain technology. Its key differentiating feature lies in providing scalable and efficient blockchain solutions. While many cryptocurrencies face the issue of scalability, with transaction processing often being slow, LOOM seeks to address this through its platform. This results in enhanced speed of transaction processing, thus aiming to improve the user experience.
Furthermore, LOOM places a strong emphasis on the security of its blockchain solutions, a feature that is always central to the design of any cryptocurrency, but the level of focus varies. While all cryptocurrencies seek to provide secure mediums of transaction, the centrality of this feature is more explicit in LOOM's design.
Among the shared features with other cryptocurrencies, LOOM is traded on various exchanges and can be stored in different wallets. However, its reliance on third-party platforms for transactions and storage can also be seen as a differentiation, as it introduces a layer of practical dependency not inherent in all other forms of cryptocurrency.
Finally, like many newer offerings in the industry, it requires users to have some knowledge of blockchain systems to fully utilize its benefits, a requirement that is variable among different cryptocurrencies.
There are several exchanges worldwide that support the buying of LOOM.
1. Binance: One of the world's leading cryptocurrency exchanges. It offers several trading pairs including LOOM/BTC, LOOM/ETH, LOOM/BNB, LOOM/USDT.
2. Upbit: A South Korean exchange platform. It supports LOOM/KRW (Korean Won) and LOOM/BTC.
3. Huobi: A Singapore-based exchange. It offers LOOM pairs including LOOM/USDT and LOOM/BTC.
4. Uniswap: A decentralized exchange on the Ethereum network. It typically supports LOOM/ETH as a token pair.
5. Gate.io: A cryptocurrency exchange platform that supports LOOM/USDT, LOOM/BTC trading pairs.
Storing LOOM tokens involves a process similar to that of other cryptocurrencies. After acquiring LOOM tokens from an exchange, users need to transfer them to a secure wallet. To transfer LOOM tokens, users typically need to generate a receive address from their wallet and then input that address under the 'Send' or 'Withdraw' field in the exchange platform's LOOM section.
There are a number of wallet options available where you can store your LOOM tokens. Different types of wallets offer different levels of security, convenience, and accessibility. Here are some wallet types along with specific examples for storing LOOM:
1. Web Wallets: These wallets are accessible via internet browsers. Example: Metamask.
2. Desktop Wallets: These software wallets are installed on a computer and can only be accessed from that specific device. Example: MyEtherWallet (MEW).
3. Mobile Wallets: These are apps installed on a smartphone, making them a convenient option for users who want to access their LOOM tokens on the go. Example: Trust Wallet.
4. Hardware Wallets: These are the most secure wallets that store the user's private keys on a hardware device such as a USB. They are resilient to computer viruses and the private keys never leave the device, making them very secure. Examples: Ledger Nano S, Trezor.
5. Paper Wallets: These involve printing the private keys on paper. They are highly secure from online threats since they are completely offline, but they require more effort to set up and use.
When choosing a wallet, consider factors such as security, convenience, user friendliness, and whether they support tokens on the blockchain that LOOM is built on, which is Ethereum (as LOOM is an ERC-20 token). Ultimately, the choice of a wallet depends on an individual's specific requirements.
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