Going up by around 120% in the last 7 days, the price of Looprig hit a new all-time high of $3.30 today.
LRC is the native token of the Ethereum-based blockchain protocol, which allows developing decentralized exchanges. Loopring Layer 2 powers the Loopring decentralized exchange.
The surge happens amid the growing popularity of Ethereum layer 2 solutions. Another reason for the surge is that according to recent rumors that American major retail gaming company GameStop will use Loopring’s scaling solutions to launch an NFT marketplace.
The company has posted several NFT jobs.
Rumors were started by GMEdd.com, a website created by supporters and investors of GameStop. According to a post published on October 27, Loopring’s code shows that the development of the NFT marketplace is in process. After the post, the daily trading volume of the Loopring Layer 2 hit a new all-time high, crossing $75 million.