Loom Network (LOOM) has been gaining traction, rallying up to 400% within a month and even logging 500% gains over thirty days. While it's making leaps in price, it has also recently faced drastic dips, dropping up to 70% within four days. This volatility brings speculations as to whether the LOOM price rally is running out of steam. Furthermore, significant developments are on the horizon for LOOM as Binance, one of the major crypto exchanges, has unveiled plans to delist LOOM Network, along with other altcoins, which could factor into its market stability. Despite market uncertainties, crypto gaming continues to surge, with LOOM Network showing explosive performance being pivotal in DApp Development and bridging chains for seamless progression. Doubts got raised over LOOM's centralisation, evidenced by significant concentration among top wallets, which threatens decentralisation, an essence of cryptocurrencies. On the brighter side, LOOM Network achieved a 6-year high, spurring the market to speculate whether to hodl or take profits. Unrelated to LOOM specifically, Bitcoin faces significant selling pressure with potential rate cuts looming, which could substantially impact the overall crypto market. Ethereum's staking is nearing an all-time high as ETF's loom and rewards rise, steering attention towards the altcoin market. Lastly, recent data suggests a potential rate-cut decision is looming from the Federal Reserve, which could indirectly influence crypto markets, including LOOM.
LOOM Coin News Analytics from Fri, 09 Apr 2021 11:54:09 GMT to Fri, 06 Sep 2024 11:39:11 GMT -
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