The
Loom Network (LOOM) has witnessed significant fluctuations. In the fourth quarter, it saw considerable activity. The crypto was a prominent topic on KRAKEN and showed strong performance, rallying by 400% within a month. This rapid surge was attributed to its potential for seamless DApp development. Despite a
70% plunge in a four-day span, LOOM bounced back, aiming towards the $1 mark. However, Binance's decision to delist LOOM caused a market upset. Even in this scenario, LOOM managed to maintain its momentum, registering
500% gains in 30 days.
Amid these fluctuations, questions about LOOM's future prospects and sustainability have grown, with a potential
break from its sideways position being predicted. Reports suggest a key reason behind LOOM's rally was South Korean traders. Blockchain project
EtherLoom has closely examined these developments. However, concerns were raised about LOOM's viability after news of an exit scam and developers abandoning the project emerged.
Coinbase Pro launched ERC20 tokens Loom Network among others.
Network Aviation's looming pilot strike and reports of
Zong implementing MIMO upgrades due to repeating outages are external factors that may potentially impact LOOM.
LOOM also gained visibility because of
CryptoZombies: Battlegrounds and a blockchain-based trading card game. While LOOM's price predictions for 2024-2030 are attractive, the recent dump raises concerns about its stability. The coin featured among the best crypto buys trending in September.
Loom Network News Analytics from Sun, 11 Jan 2004 08:00:00 GMT to Sun, 08 Sep 2024 00:10:14 GMT -
Rating -1
- Innovation 6
- Information 7
- Rumor -4
