How high can GameStop (NYSE:GME) take the Loopring (LRC-USD) cryptocurrency?
Loopring is an Ethereum-based protocol that helps developers create decentralized exchanges. Its LRC tokens became available in 2017, and in recent months, have been captivating investors.
In fact, we are seeing that again today. The price of Loopring has been rising after it was announced that video game retailer GameStop will use the protocol as part of the non-fungible token (NFT) marketplace it is developing. News of the partnership with GameStop quickly sent the LRC crypto price up 40% to $1.18 per digital token.
Will the gains continue? Well, here are three price predictions for where Loopring is likely to be trading at in coming months.
Loopring Price Predictions
- Wallet Investor forecasts that LRC will reach $4.65 in the next five years, for a gain of nearly 295%.
- DigitalCoinPrice sees the price of Loopring hitting $3.25 by 2027, for an increase of 175%.
- Gov Capital expects that the price of LRC will sit at $1.55 by the end of this year, for a potential gain of 32% in coming months.
What’s Next for the LRC Crypto
The consensus view appears to be that the price of LRC will continue to rise steadily in coming months and years. The partnership with GameStop and involvement in the retailer’s NFT marketplace are certainly helping the price of Loopring reach new heights today.
That said, investors should keep in mind that the entire cryptocurrency industry remains volatile and unpredictable. Prices that rise today could fall tomorrow. Be careful out there.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.