Loom Network Price Prediction: Will Loom Network Reach $1, $10?
The Latest Price of Loom Network (LOOM) is:
Loom Network Price Performance
- Last 1 Month: +102.6%
- Last 12 Months: +168.1%
- Since Launch (2018): +66.4%
Exchange Domination – Upbit (Korea): 42.8% [Moderate Risk]
LOOM’s price has experienced significant fluctuations this week. It initially saw a substantial price surge followed by a significant drop in value. Over the past four days, it has plummeted by more than 70%. The drop is believed to be the result of Korean traders on the UpBit exchange artificially inflating LOOM’s price for quick profits. Additionally, on-chain data has revealed weak fundamentals for the Loom Network, marked by a slowdown in developer activity in recent years. Furthermore, market confusion ensued when a different company, Atlassian, acquired a company with a similar name to Loom, contributing to increased market volatility.
Despite these factors, LOOM’s price has once again started to surge on Friday. However, since there is no clear reason for this surge, caution is advised, given its recent price swings.
- Average block time: 16.5 seconds [Steady]
- Total transactions: 7,321,736 (Rising)
- Wallet addresses: 44,203 (Rising)
Since January this year, a total of 18k transactions and 1350 Wallets have been added.
Loom Network is a production-ready, multichain interoperability platform tailored for Dapp developers, ensuring scalability, seamless integration with major blockchains, and a superior user experience. Live since early 2018, it has used Delegated Proof of Stake (DPoS) for swift transactions and offers a future-proof environment with tools like CryptoZombies for hands-on learning. Highlighted by its security, with over 247 million LOOM staked, and endorsements from projects like Axie Infinity and ConsenSys, Loom is presented as a one-stop solution for launching high-performance dapps across multiple chains.
Loom Network Price Prediction: Price Analysis
The all-time high value of LOOM (after its launch) is $0.66, which it achieved in May 2018. After that, the price of Loom Network started to fall.
Recently, Loom Network has risen and achieved the second-highest peak of all time. Most of that rise was due to significant trading volumes in Korea (Upbit). There appears to be limited news or data to support that pump. But now Loom has started to fall. Numerous cryptocurrencies have been pumped by Korea over the last 8 weeks, only to be dumped as retail gets into it. Trade with care.
LOOM Network Price Prediction Today, Tomorrow and Week
- Loom Network Price Prediction in the next 24 hours is between $0.115 and $0.115
- Loom Network Price Prediction this week is between $0.110 and $0.118
|1. Market's Wisdom||Partially Bearish|
|1a. Market Data||Neutral|
|1b. Technical Recommendation||Sell|
|2. Crowd's Wisdom||Bearish|
|2a. Social Media Buzz||Lower|
|2b. Social Media Sentiment||Lower|
Loom Network Price Prediction 2023-2030, Aggregated
- Loom Network Price Prediction 2023 is $0.154
- Loom Network Price Prediction 2024 is $0.280
- Loom Network Price Prediction 2025 is $0.261
- Loom Network Price Prediction 2026 is $0.331
- Loom Network Price Prediction 2027 is $0.372
- Loom Network Price Prediction 2028 is $0.466
- Loom Network Price Prediction 2029 is $0.657
- Loom Network Price Prediction 2030 is $0.920
Will Loom Network Reach $1?
The Loom Network price must grow by more than 3 times to reach $1
Market Cap at $1: At $1, Loom Network’s Market Cap would be about $1.2B,
Long-Term Performance: Apart from the speculative run in the last fortnight, there hasn’t been a significant growth in Loom Network price since November 2021. Ironically, LOOM was a pretty ordinary performer by 2021 standards as well.
Overall, taking the above into account, Loom Network is unlikely to reach $1 anytime soon.
Will Loom Network Reach $10?
The Loom Network price must grow by more than 50 times to reach $10
Market Cap at $10: At $10, Loom Network’s Market Cap would be about $10B, higher than Solana in 2023. Between the two, Loom has little utility compared to Solana.
Long-Term Performance: Apart from the speculative run in the last month, there hasn’t been a significant growth in Loom Network price since November 2021. Ironically, LOOM was a pretty ordinary performer by 2021 standards as well.
Overall, taking the above into account, Loom Network is unlikely to reach $10
Will Loom Network Reach $100?
The Loom Network price is required to grow by nearly 500 times to reach 100 dollars.
Market Cap at $100: At $100, Loom Network’s Market Cap would be about $100B, half that of Ethereum. Between the two, Loom has little utility compared to Ethereum.
Long-Term Performance: There is little evidence from long-term performance that Loom will rise 900x from here.
Overall, taking the above into account, Loom Network is unlikely to reach $100
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.
The investors of the LOOM network include BMW Capital, NeurValue Capital, RocketFuel, MW Partners, Torque Ventures, Youbi Capital, etc.
LOOM Use cases
The following 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
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view of the likely trends in Cryptos or Stocks. Please consult a registered investment advisor to guide you on your financial decisions.