Loopring price jumps 14% as daily volume skyrockets

• Loopring (LRC) has surged more than 14% in the past 24 hours.
• The native token of the Ethereum-based layer-2 scaling solution has also seen a massive jump in daily trading volume.
• If bulls hold onto gains, LRC price could target highs of $0.44 in the short term.

Loopring (LRC), the native token of the Ethereum-based layer-2 scaling solution, has surged by 14% in the past 24 hours, accompanied by a notable spike in trading volume.

According to data from CoinMarketCap, the price of LRC now hovers around $0.1058, suggesting fresh interest in the decentralized finance (DeFi) protocol.

LRC’s rally, which comes with a massive spike in volume, follows Loopring’s recent announcement of its official DeFi documentation that highlights innovative earning and trading solutions.

But could this push the Loopring price higher?

Loopring price jumps to a month-high mark

As data from CoinMarketCap shows, the 14% price jump has propelled Loopring to a month-high mark above $0.10.

The gain aligns with a huge increase in trading activity, with LRC seeing a 2,600% jump in the 24 hours to over $204 million, at the time of writing.

While other coins have posted similar surges, this suggests that investors are taking notice of Loopring’s latest developments.

The project’s focus on redefining DeFi with a CeFi-like experience, while maintaining a trustless environment, seems to be resonating with the community.

It combines with Loopring’s zkRollup technology, which enables faster and cheaper transactions on Ethereum, to indicate renewed optimism.

Our Loopring DeFi dev docs are now live