I have been holding Loopring for awhile now and sadly, I was one of the few who bought at the top but I am currently averaging down now. I believe those that like LRC is definitely buying the current dip.
On November 16, there was a transaction of 61,300,000 LRC moved to layer 2 on the loopring network. It is worth around 164.8m USD. This is extremely bullish and I like this speculation right now.
Loopring is a native token of the LRC protocol which was launched in 2017. It allows users who stake their tokens to receive a % of transaction fees that are paid across all LRC-based exchanges. You can say that is it a deflationary token whereby the platform would burn a percentage of the transaction fees.
Personally feel that it is worth holding a little of LRC for the fundamentals of the project as well as the hype that is going on right now.
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