Loom Network Price Prediction: Will Loom Network Reach $10?

The Latest Price of Loom Network (LOOM) is:

LOOM Network Price Prediction Today

Loom Network Price Prediction

Let us first overview LOOM’s price history for the past few months, before predicting its future movements. Its performance in the past months can help us gain the required context for the future. Let’s discuss:

Image: LOOM’s one-year graph

Above is its graph for 1 year and as we can see that the market price of the Loom Network, one year ago was $0.058. Hence, there is a decline of around 1.07 times in its price in one year, considering its current price of $0.054. Also, there were numerous ups and downs stating that the hike wasn’t really continuous. It even reached a highest point at $0.1 during that period (as depicted above).

LOOM’s price has increased by more than 1.14 times in three months (though the increase was not consistent), keeping in mind that its price 3-months ago was $0.047. However, its price reached a lowest value at $0.03 during this period (as depicted below).

Image: LOOM’s 3-month graph

The all-time high value of LOOM (after its launch) is $0.66 which it achieved in May 2018. After that, the price started to fall and is currently priced at $0.054 (again the decline wasn’t consistent during the entire period). Also, its market price a month ago was $0.045. It means that it has increased by 1.2 times since then.

Note that LOOM crypto is 12.22 down from its all-time high price, meaning that it has a huge scope for growth in the future.

Furthermore, the improving CPI Index since December 2022 can turn out to be in the favor of the Loom network and help its price grow further. Note that LOOM’s price has increased by around 1.1 times since a week (after the release of CPI data).

Will Loom Network Reach $10?

Loom network needs to grow by more than 185 times to reach $10, considering its current market price of $0.054.

Loom network reached its all-time high value of $0.66 in May 2018 and it grew by 8.68 times in 2 months (from the lowest value of $0.076 in March 2018). Thus, it grew by around 4.32 times in one month.

Therefore, to reach $10, LOOM requires a minimum of 42 months (slightly less than 4 years). However, it completely depends on the market condition during that time and hence, it might need a little more time than that.

Will Loom Network Reach $100?

Loom network requires to grow by nearly 1,818 times from its current market price to reach 100 dollars.

Note that it reached its all-time high price in May 2018, where it grew by 8.68 times in just two months. Thus, considering its 4.34 times growth in one month, we can say that LOOM will need at least 418 months (slightly less than 35 years) to reach $100.

Also, the macro and micro economic can also affect its price in the future. Hence, the LOOM coin cannot reach $100 in the near future.

Loom Coins Staking

LOOM tokens can be staked by users to earn rewards. Here are the three simple steps to stake LOOM tokens on the network:

• The first step is to select a supported wallet and fund the wallet with LOOM and ETH. Note that the supported wallets include MetaMask, Ledger Nano, Trezor, and Trust Wallet.
• The second step is to select the amount of LOOM tokens and deposit those to the Basechain.
• In the third step, users need to select a validator and the amount of LOOM tokens to stake. After that, the rewards can be claimed by simply clicking on the “Claim Rewards” button.

LOOM Partnerships

The investors of the LOOM network include BMW Capital, NeurValue Capital, RocketFuel, MW Partners, Torque Ventures, Youbi Capital etc.

LOOM Use cases

The following mentioned are the primary use cases of LOOM tokens:

• Developers can use LOOM tokens to pay for hosting dApps on the Loom network.
• Users can stake their LOOM tokens to earn more tokens.
• Being the governance token, LOOM allows its holders to vote on various proposals for the betterment of the network.
• LOOM tokens can be used to pay the transaction fees on the network.

Loom Network (LOOM) Price Prediction: How to Buy Loom Network (LOOM)?

In order to buy LOOM NETWORK (LOOM) coin, here are some steps you need to follow. LOOM is a very popular cryptocurrency that is rising in popularity. However, it must sell tokens more in order to get a top spot.

Step 1: Find the correct cryptocurrency exchange.

Step 2: Create your account after verifying your identity at the crypto exchange.

Step 3: Fund your wallet and buy LOOM coins.

Where Can One Buy Loom Network (LOOM)?

Here are some options of different crypto exchanges that sell LOOM NETWORK (LOOM) coins. You can choose from these options:

Binance, Coinbase, Bithumb, KuCoin

Read: Ethereum Price Prediction 2022