Loopring is a layer 2, powered by zk technology, that offers faster and cheaper transactions compared to Ethereum. However, because it’s built on top of Ethereum, it benefits from its security. Loopring also offers a swap and an order book and is mostly active in DeFi.
So, let’s dive into Loopring and look at some top exchanges in Loopring. The following video shows how you can swap on their exchange.
1) Binance
Binance is, by far, the most popular centralized exchange (CEX) now. It has a daily volume of $5.7 billion. That’s more than 9 times as much as the second biggest CEX, Coinbase. They have a daily volume of $607 million. Furthermore, Binance also has 75.4 million monthly visitors. Coinbase has 38.1 million monthly visitors. That’s a bit over half as many.
In 2020, Binance listed LRC for the first time. Then, the exchange was relisted in January 2022. So right now you can:
- Trade futures for the LRC/USDT pair.
- Stake LRC to earn rewards.
New #Binance Futures weekly update:
🔸 $200,000 in #BNB to be won!
🔸 Fee discount program launched
🔸 Battle winning streak leaderboardNew listings:
🔸 $BEL @Bella Protocol 50x
🔸 $CTK @Loopring 50x
🔸 $AXS @Filecoin #Binance Leveraged Tokens— Binance (@binance) November 20, 2020
Binance also has its own native token, BNB. If you pay transaction fees with BNB, you receive a discount trading LRC.
2) Bitrue
Bitrue ranks as #38 on the CoinGecko centralized exchanges list. It has a daily trading volume of $694 million, and its monthly visitors are 5.21 million. However, Bitrue doesn’t make their Proof of Reserve public. On the other hand, his exchange offers 595 coins and 1085 trading pairs. Their headquarters are in Singapore.
The exchange also offers various options in futures trading for LRC. For passive income options or earning, they offer staking, lockups, and loans. However, they don’t offer any staking options for LRC. But they do offer a 3% Power Piggy investment on LRC. To take part, you need to hold the BTR token.
Source: Bitrue
Be aware that with each CEX, you’re not in control of your assets. CEXes use custodial wallets, they keep in control of your assets. Bitrue also suffered two hacks. Once in 2019 to the tune of $4 million. In April 2023, they lost another $23 million. The picture below shows the Power Piggy option on Bitrue for LRC.
3) Coinbase
Coinbase is currently the second-biggest centralized exchange in the world. Its daily volume is at $607 million. Coinbase sees around 38.1 million visitors each month. It’s however surprising that Coinbase doesn’t share its Proof of Reserves. Coinbase offers 240 coins and 538 trading pairs. They charge relatively high trading fees, compared to other exchanges. However, it’s a beginner-friendly crypto exchange.
In this case, Coinbase has a learning platform where users can earn free tokens learning about LRC, the native token of Loopring.
Get excited to learn about Loopring (LRC) and earn free crypto.
🤔 What is Loopring (LRC)?
⚡️ Loopring (LRC) enables faster, cheaper Ethereum transactions.Sign up today to learn and earn 👉 https://t.co/VQgAgtzk7a pic.twitter.com/LCh42nzmmY
— Coinbase 🛡️ (@coinbase) November 2, 2021
Also, the exchange offers a few trading options for LRC. Also, you can use its earning feature, however, they don’t offer any passive income options for Loopring yet. Finally, here is a guide to buying LRC in Coinbase.
Conclusion
Loopring is active in the DeFi space. However, almost all major centralized exchanges offer the LRC token. We looked at some top exchanges in Loopring. This included Binance, Coinbase, and Bitrue.
The current LRC price is $0.2960. Its market cap is $369.4 million. The max supply is 1.374 billion LRC tokens. There’s a similar total supply of LRC tokens. Currently, 1.245 LRC tokens circulate.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
