<h2>Everything about Loom crypto</h2><h3>What is Loom crypto?</h3><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed3e476d5e1a62a8e6023f659fee92.jpg" alt="what is loom crypto" title="what is loom crypto" width="600" height="331"></p><p dir="ltr"><strong>Loom Network</strong> (LOOM) is an Ethereum currency that supports a network of delegated proof of stake side chains (dubbed "EOS on Ethereum" by Loom). This enables extremely scalable games and user-facing dApps underpinned by Ethereum's security.</p><p dir="ltr">Every blockchain-based program has its own native token, and Loom Network has the aptly titled Loom Network coin, also known by its ticker symbol, LOOM. This coin is intended to be used to pay for the hosting of dApps on the platform, but it may also be staked in exchange for prizes. Exchanges are also where you may buy, sell, and trade cryptocurrency.</p><h3>Loom crypto tokenomics</h3><h4>LOOM token key metrics</h4><ul><li><p dir="ltr">Ticker: LOOM</p></li><li><p dir="ltr">Contract: 0xa4e8c3ec456107ea67d3075bf9e3df3a75823db0</p></li><li><p dir="ltr">Decimal: 18</p></li><li><p dir="ltr">Blockchain: Ethereum</p></li><li><p dir="ltr">Token Standard: ERC20</p></li><li><p dir="ltr">Token Type: Utility Token</p></li><li><p dir="ltr">Total supply: 1,000,000,000 LOOM</p></li><li><p dir="ltr">Circulating supply: 803,270,193 LOOM</p></li></ul><h4>LOOM token allocation</h4><ul><li><p dir="ltr">Private sale: 45%</p></li><li><p dir="ltr">Team: 10%</p></li><li><p dir="ltr">Advisors: 10%</p></li><li><p dir="ltr">Reserve funds: 35%</p></li></ul><h4>LOOM token use cases</h4><p dir="ltr">The LOOM token is a proof-of-stake token that is used to secure Loom Network's mainnet, which is known as Basechain. LOOM token holders can stake their tokens to help secure Basechain and gain incentives.</p><p dir="ltr">Developers may also use the token to pay for dapp hosting on the Loom Network. Unlike Ethereum, developers pay a single monthly price to host their dapps on Loom, which eliminates transaction expenses for their users.</p><p><em><strong>&gt;&gt;&gt; Read more:&nbsp;</strong></em><a href="https://www.builder.news/crypto-insights/pow-compared-with-pos" alt="PoW compared with PoS - What solution is optimal?" title="PoW compared with PoS - What solution is optimal?" target="_blank" rel="" class=""><em><strong>PoW compared with PoS - What solution is optimal?</strong></em></a></p><h2>What problems does Loom Network (LOOM) solve?</h2><p dir="ltr">Loom Network was founded with the goal of resolving many challenges plaguing the cryptocurrency industry. It not only solves the challenges that have been stifling progress in the crypto sector, but it also fosters innovation.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed3e476d5e2227a8e6023f659fee92.jpg" alt="What problems does Loom Network (LOOM) solve" title="What problems does Loom Network (LOOM) solve" width="600" height="299"></p><h3>Greater interoperability</h3><p dir="ltr">Loom Network is a platform-as-a-service provider. As a result, it enables Ethereum Solidity apps to run across side chains, allowing dApps to have consensus methods tailored to their needs. Loom Network thinks that deploying a dApp on a single incompatible blockchain increases the danger of vendor lock-in to a losing platform. Therefore, the project is always developing new connectors with new chains to ensure that its users' dApps are never rendered outdated.</p><h3>Easy dApp development</h3><p dir="ltr">Loom Network enables developers to create <a href="https://www.builder.news/crypto-insights/blockchains-backbone-to-call-smart-contracts-InrUS" alt="Blockchain's backbone to call Smart Contracts" title="Blockchain's backbone to call Smart Contracts" target="_blank" rel="" class="">smart contracts</a> that can access significantly more computational power as needed. Alternatively, they can retain the same power at a lesser cost for a variety of tasks such as trials, onboarding new users, apps that do not require complete blockchain security, and so on. Furthermore, Loom enables dApp developers to design apps without having to move between programming languages, making things easier because just one language is required.</p><h3>Expanded scalability</h3><p dir="ltr">Loom Network also uses DPoS sidechains to achieve scalability. The DPoS, or Delegated Proof of Stake, protocol is designed to provide rapid confirmation times and large transaction volume, which are required for major real-world dApps. Another aspect is that Loom Network runs on Plasma, a scaling technology designed to increase network transaction speed.</p><h3>Enhanced security</h3><p dir="ltr">Finally, there's the issue of safety. The project's DPoS sidechains can also aid with dApp security by using Ethereum mainnet security. Loom Basechain is a DPoS blockchain with over 21 external validators situated all over the world. It also has over 247.8 million LOOM invested, according to its website. Trail of Bits, a well-known information security firm that specializes in blockchain technology, certified the project.</p><h2>Loom crypto price</h2><h3>Loom crypto price history</h3><p dir="ltr">When LOOM token initially went public in April 2018, it was valued at $0.08949. It was excellent news for early investors, as the token rose to an all-time high of $0.7745 on May 4, 2018. However, the newly-minted cryptocurrency was unable to weather the market dynamics of the so-called crypto winter, and it plummeted below $0.10 in November and remained there for the following two years or so.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed3e476d5e2707a8e6023f659fee92.jpg" alt="Loom price history" title="Loom price history" width="600" height="375"></p><p dir="ltr">The absolute low point occurred on March 13, 2020, when the threat of Covid-19 lockdowns caused markets to fall across the board. On March 13, 2020, LOOM reached an all-time low of $0.007666.</p><p dir="ltr">The coin achieved a periodic high of $0.2605 in April 2021, when the cryptocurrency market started a bullish trend. It subsequently followed the rest of the market into a bearish summer, reaching a low of $0.04078 on June 21.</p><p dir="ltr">Later in the year, there was a surge in interest in non-fungible tokens (NFTs), which helped LOOM burst past $0.10 at the end of the month and soar to $0.1777 on September 17, 2021.</p><p dir="ltr">However, as a result of Russia's invasion of Ukraine, LOOM fell to $0.06132 on February 24. Following that, news that the UST stablecoin had been depegged, culminating in the collapse of the related LUNA cryptocurrency, shook the market, with LOOM falling to $0.03642 on May 12, 2022.</p><p dir="ltr">Any prospects of a rebound were short-lived, as after reports of the Celsius crypto lending site canceling withdrawals confirmed the crypto bear market, the token dropped to $0.03153 on June 15, 2022.</p><p dir="ltr">The announcement that LOOM would be accessible on the Binance (BNB) market on August 25, 2022, caused it to record an intraday high of $0.06635.</p><p dir="ltr">As of writing, the Loom crypto price witnessed a decrease at $0.05433.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed3e476d5e2c19a8e6023f659fee92.jpg" alt="Loom crypto price" title="Loom crypto price" width="600" height="373"></p><h3>Loom crypto price prediction</h3><p dir="ltr">When it comes to generating a Loom Network price estimate for 2023, CryptoGround was somewhat negative. It is predicted that the token may be worth $0.0607 in the middle of March 2023, then rise to $0.0743 in August of the year. The<strong> LOOM crypto price prediction</strong> then proposed a rise in price to $0.1197 in 2024, $0.3088 in 2025 and reach&nbsp; $0.4789 by September 2027.</p><p dir="ltr">The CoinArbitrageBot was optimistic about the long-term <strong>LOOM crypto price projection </strong>but pessimistic about the near term. According to the site, LOOM might decline to little more than $0.11 by the end of 2022, before perhaps rising to $0.22 in 2023. By 2024, the site predicted that the token would be valued at approximately $0.36, while by 2025, the site predicted that it would be worth around $0.58.</p><p dir="ltr">According to PricePrediction, the LOOM token price might be $0.058 in 2022, $0.081 in 2023, and $0.12 in 2024. According to the website, the token might trade at $0.17 by 2025, then rise to $0.24 the next year and $0.35 the year after that.</p><p dir="ltr">Finally, WalletInvestor's <strong>LOOM crypto price prediction </strong>was significantly more pessimistic. According to the website, hard times were coming for Loom Network, and the token's value may have decreased significantly by September 2023, trading at about $0.0692.</p><h2>Where to buy loom crypto</h2><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed3e476d5e3180a8e6023f659fee92.jpg" alt="where to buy loom crypto" title="where to buy loom crypto" width="600" height="299"></p><p dir="ltr">The Loom Network (LOOM) token is currently traded on the following exchanges:</p><ul><li><p dir="ltr">Binance - Best for Australia, Canada, Singapore, the United Kingdom, and the rest of the globe. Loom Network is not available to residents of the United States (LOOM). Use Discount Code: EE59L0QP to receive 10% off all trading costs.</p></li><li><p dir="ltr">KuCoin - This cryptocurrency exchange presently supports the trade of over 300 popular tokens. It is frequently the first to provide purchasing options for new tokens. This exchange is presently open to international and US citizens.</p></li><li><p dir="ltr">Uphold - This is a leading exchange for residents of the United States and the United Kingdom, offering a diverse choice of cryptocurrencies. Germany and the Netherlands are not permitted.</p></li><li><p dir="ltr">WazirX - As part of the Binance Group, this exchange maintains a high level of quality. It is the best exchange rate for Indian citizens.</p></li></ul><h2>Is the Loom crypto a good investment?</h2><p dir="ltr">As scalability becomes one of the most pressing concerns in blockchain technology, the Loom Network is working on a solution and applying it to the enormously popular gaming and social networking domains. As Ethereum blockchain gaming becomes more popular, Loom Network is positioned to become the Unity of blockchain game creation. This is especially relevant given that they have already added support for Ethereum and Tron dApps and have ambitions to add EOS and others to become a global Layer 2 blockchain.&nbsp;</p><p dir="ltr">While some analysts predict the coin's value will rise in the future, others feel it will fall. It is critical to remember that forecasts, especially long-term projections, should be viewed as indicators rather than conclusions.</p><p dir="ltr">Investing is a high-risk activity, so investors should do their research and remain up to date on any changes to the Loom Network environment that may increase its prospects. Invest no more than you can afford to lose, since investing is risky.</p><div class="pr-block-special"><strong>Disclaimer:</strong><br>This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.</div>

Loom Network Token is considered one of the fastest rising coins in the cryptocurrency market today, so a huge number of investors are curious about "is that a golden time for investing in it?". Let's dive into this article to clarify the above question!

Loom crypto - Is it a good investment right now?