I’ve been believing in LRC since just before the GME hype. Saw a random Reddit post leaking it and figured why not. Went from .34 to almost $4. Good times right?

Since the crypto winter began I’ve been accumulating LRC slowly over time especially under .20. The discussion question is “What is up with the price action?”

Considering these facts I find it hard to beleive this project is valued so low.

  1. Continuing to Build through the down market
  2. Active community and developers
  3. Its own self custody wallet with attached DEX
  4. Streamlining ETH transactions over multiple projects and blockchains.

Today at last check loopring was #138 by market cap. There are literal scams valued much higher, dead projects. Luna classic is valued higher than LRC. What will it take to see some value added? Is the price being artificially suppressed?

  • Flimsy_Brilliant_239@alien.topBEnglish
    1·
    10 months ago

    I know this gets said all the time but marketing is key. They’ve been doing a great job building and I’m excited to see what comes with Taiko but eventually they will have to get the number of users way up.

    • datasmash@alien.topBEnglish
      1·
      10 months ago

      Totally agreed on marketing. In the tech world you can get some really clever people, working on amazing tech, but if no one knows about it, they’re doomed to fail. Definitely want to see some real marketing to get mass new users, not just hyping up the existing echo chamber

      Also I went to activate a friends wallet for them the other day, the fee is still $50 ish at a relatively average gas time of day. no doubt thats going to go down to $20 ish when gas is peak low, but its still expensive and a huge barrier for entry to new users. Anyone know if the Taiko deployment will make that initial activation smart contract considerably cheaper, as if so thats a huge win

  • SilverCamaroZ28@alien.topBEnglish
    1·
    10 months ago

    If GME went to a crypto type stock market and taking their shares off real exchanges creating a huge short, maybe some action.

  • brandnewpaint@alien.topBEnglish
    1·
    10 months ago

    Price action is garbage. But the tools are great. Use dual investment all the time. Wish there was more on the dex but that time will come.

    I agree with the above though, marketing is just so far off.

    • DERELECTrical@alien.topBEnglish
      1·
      10 months ago

      Could marketing help ELI5 the wallet for user adoption?

      Is that even the point of this product?

      I have had a wallet and lots o’ loops since the rocket and no actual idea why.

    • PeederSchmychael@alien.topBEnglish
      1·
      10 months ago

      Wouldn’t dual investment just keep prices lower. Everyone constantly buying/selling automatically in low range.

      • brandnewpaint@alien.topBEnglish
        1·
        10 months ago

        I guess so. But i think that most people who dual invest dont have much effect on the overall market. Thats more narrative driven i think

      • brandnewpaint@alien.topBEnglish
        1·
        10 months ago

        I guess so. But i think that most people who dual invest dont have much effect on the overall market. Thats more narrative driven i think

  • Sup_fans@alien.topBEnglish
    1·
    10 months ago

    What’s up with the price? The token has zero utility. Why should it be valued highly? Serious question by someone who locked in a 90% loss after realizing there’s no plan to make the token valuable

    • tek3k@alien.topBEnglish
      1·
      10 months ago

      So, I think “locked in a 90% loss” means you became impatient and sold your LRC at a devastating loss in the depth of the bear market. Yet,… for some reason you still choose to return to this sub and spend your limited time and energy lamenting your loss. I’ve never understood why people dislike the project but spend time here. It makes no sense to me. Why not just take the L and move on.

  • OnTheGreatWave@alien.topBEnglish
    1·
    10 months ago

    It was pumped to $4 on the rumours (that turned to be news) that Loopring was collaborating with GameStop. I do not foresee LRC being pumped to that price again. There has not been any collaboration or partnership with another well-known company (do not say Taiko) since then.

    LRC’s price may very well increase during the next bull run, whenever that is. Perhaps working with Taiko will amount to some gains? I think we’d be fortunate if LRC ever breaks a whole dollar again.

  • DopestDope__@alien.topBEnglish
    1·
    10 months ago

    Once you take the red pill and go down the rabbit hole of gamestop/bbby/teddy/loopring/ftx/binance/government you will understand how and why.

    The tldr version is just greed and crime.

    If you want the answer to this question it will take over at least 100+ hours of research to fully understand. *WARNING* If you decide to go down this path…you will never be the same.

  • pcakes13@alien.topBEnglish
    1·
    10 months ago

    Anyone worried about the price of any coin right now needs to pull their head out of their ass and look at what is happing in the larger market. FTX bankruptcy administrator poised to sell assets to recover for creditors. Binance CEO stepping down for money laundering and 4B in fines about to be levied. I’m not one to make price predictions or to tell anyone what they should do, you do you. IMO, we’re about to see some pretty large dumps and market loss and as goes BTC and ETH, so go the alts. Just one mans opinion, take it with a grain of salt.

  • the77helios@alien.topBEnglish
    1·
    10 months ago

    The fundamentals haven’t changed and the team has been non-stop delivering.

    The devs cannot control the price. Sure marketing will help (all in good time), but exactly as you pointed out the market (who decides price) does not value the fundamentals… yet. They value rugpull L2s that launch with no testnet just yesterday 🤣…

    And that’s fine. Some even argue that after PoS ethereum has STILL not been accurately valued for what the tech stack can now provide. And that’s the second largest protocol!

    Try to use a dapp these days. Many protocols are even geo-blocking the US with the likes of Iran, N Korea, and Cuba! Have to use VPNs in “the most developed country in the world”… Do you think it is time for the actual value to be properly assessed and built into the price. I don’t. Not yet

    But what I do see is a non-stop shipping team of devs, and a strong community (particularly in our discord, which you should consider joining) as you’ve pointed out. That is diverse, global and not common. Also consider how we have these things without the double edged sword of big VC money (and a basically fully circulated token)

    To me, that’s all I need to hodl for a long time. I’m not a mod because I just want to ban people… I love being here, I love the tech, and I love the amazing humans I get to interact with every day and see what cool stuff they build.

    BUT my time horizon is not common. I will never convert crypto back to fiat, in fact I don’t plan to sell anything until I can go to a grocery store in NYC and pay with ETH. With that view, I’m able to maintain my zen and remove the association of “price go up” with “is this a successful team/tech”