CDS Crypto News Loom Crypto Price Analysis
Crypto News

Loom Crypto Price Analysis

This article examines the price and risk analysis of Loom Crypto.

394
Loom Crypto Price Analysis

Loom Crypto price has recently undergone a comprehensive risk analysis, as determined by research conducted by InvestorsObserver. This risk assessment employs a proprietary system that aims to gauge the susceptibility of a given token to manipulation within the cryptocurrency market. The methodology behind this assessment involves a multifaceted evaluation, taking into account several key factors.

Loom Crypto Price Analysis

One of the primary factors under scrutiny is the extent to which a token’s price can be influenced by the injection of capital. Specifically, the system analyzes the magnitude of financial resources required to trigger a discernible shift in the token’s value over the course of the preceding 24 hours. This aspect of the assessment serves as an indicator of the token’s vulnerability to market manipulation, with higher capital requirements suggesting a more resilient position.

Loom Crypto Price Analysis

Furthermore, the analysis extends to the examination of recent changes in trading volume and market capitalization. These metrics provide valuable insights into the token’s overall market dynamics, shedding light on its liquidity and stability. Notably, fluctuations in trading volume and market cap can impact a token’s susceptibility to price manipulation and market distortions.

The comprehensive risk assessment is then distilled into a numerical gauge, which falls within a range spanning from 0 to 100. Within this framework, lower scores correspond to a higher perceived risk level, indicating that the token may be more susceptible to market manipulation or volatile price swings. Conversely, higher values on the scale represent a lower level of risk, suggesting greater stability and resilience within the token’s market performance.

Trading Analysis

The risk gauge ranking for LOOM indicates that the token currently presents a moderate level of risk for potential investors. This assessment is particularly valuable for traders who prioritize risk management in their investment strategies, helping them make informed decisions about whether to engage with or steer clear of assets with varying risk profiles.

At present, the price of Loom Network has experienced a significant decline of 31.43% over the past 24 hours, bringing its current valuation to $0.06 per token. This substantial price drop coincides with a notable decrease in trading volume, which currently falls below its average level. Interestingly, despite the price decrease, the token’s market capitalization has actually increased over this same time frame. The crypto’s market capitalization now stands at $73,441,184.95, indicating resilience in its overall market position.

Loom Crypto Price Analysis

Furthermore, it’s worth noting that a total of $86,142,364.49 worth of the currency has been traded within the past 24 hours, demonstrating an active trading community surrounding Loom Network. The relationship between price volatility, changes in trading volume, and market capitalization contributes to Loom Network receiving an average risk analysis.

What is Loom Network (LOOM)?

Loom Network, a platform built on the Ethereum blockchain, enables developers to run large-scale decentralized applications (DApps) seamlessly. This platform was initially launched on October 1, 2017.

Basechain, one of the key offerings of Loom Network, provides developers with the capability to run their own large-scale DApps, ranging from games to social applications, in a frictionless environment. Notably, it does not necessitate expertise in any programming language, allowing applications to be developed even in common languages within the platform.

The fundamental product of Loom Network is a Software Development Kit (SDK) that empowers developers to create their own blockchains without requiring any prior knowledge of blockchain infrastructure. In essence, it serves as a “build your own blockchain” generator. Loom Network boasts an Ethereum-based infrastructure that is significantly more stable than many other previously developed coins. It is noteworthy for the vast game worlds it offers, akin in scope and scale to titles like World of Warcraft and MMORPGs.

Furthermore, Loom Network is not confined to just creating expansive game environments; it is also proficient in building global social applications. The platform was conceived with the idea of demonstrating that blockchain technology’s applications are not limited solely to transactions.

Loom Crypto Price Analysis

Leave a comment

Leave a Reply

Related Articles

USDG Stablecoin: Paxos Teams Up with Robinhood, Kraken, and Galaxy Digital

Paxos has launched the USDG stablecoin, backed by major financial firms like...

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Memecoins Explained: The Intersection of Internet Culture and Crypto

Binance Research's report analyzes the rise of memecoins, highlighting their cultural impact,...