13 October Loom Price Hits a 6-Year High: Is it Time to Secure Your Profits?

Crypto News– Loom Network is demonstrating remarkable outperformance compared to the broader cryptocurrency market, reaching price levels last witnessed in 2018. This token, designed on the Ethereum blockchain to facilitate large-scale decentralized applications, has recorded a substantial 28% surge within the past 24 hours. These recent gains sum up to an impressive 43% increase in just one week, a staggering 109% rise over the past two weeks, and an astonishing 527% surge in the last 30 days.

13 October Loom Price Hits a 6-Year High: Is it Time to Secure Your Profits?

Traders are finding solace and profit potential in LOOM, as reflected by a significant influx of $643 million in trading volume, marking a remarkable 208% uptick, according to data from CoinMarketCap.

Furthermore, the Loom Network’s market capitalization is on an upward trajectory, expanding by 27% to reach $332 million. It is worth noting that LOOM currently holds the 89th position in the crypto market hierarchy, even among stablecoins. Traders are uncovering attractive opportunities for short-term gains within LOOM, as the token continues to rise, particularly on platforms like the MEXC exchange.

These short-term surges offer new entry points for both buying and selling the digital asset within brief timeframes, enabling traders to secure modest yet meaningful profits. This trend is especially pronounced given the synchronized movements observed in prominent cryptocurrencies.