Loom Network (LOOM) has surprised the cryptocurrency market with its massive bullish surge over the past two days. The token has dropped a zero in a span of two days.
On September 11, the LOOM was trading at around $0.04 and today it is trading at $0.1117.
To help traders who want to take advantage of the Loom Network price surge, Coinjournal has prepared this brief guide on where to buy the LOOM coin.
To find out more, please continue reading.
Best places to buy Loom Network coin
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.
What is Loom Network?
Loom Network was founded in 20127 and it is a service built on the Ethereum blockchain. It runs on Plasma, which is a scaling solution that allows for faster transactions throughout the network.
The main objective of Loom Network is to provide developers with access to smart contracts that have much more computing power and can maintain the same power at lower costs for tasks like onboarding new users. It also provides services for applications that do not need the full security of blockchain.
Loom Network provides developers with the opportunity of interacting with APIs developed by third parties and these APIs are not on-chain. It also allows smart contract developers to create applications without the need to switch to another programming language.
Loom Network has a native token referred to as Loom Network (LOOM) that is used to pay for services on the Network. LOOM token is an ERC-20 standard token.
Should I buy LOOM today?
If you want to invest in a cryptocurrency that had made triple-digit gains in the last two days, then LOOM could be a good choice.
However, it is important to take note of the fact that the cryptocurrency market is very volatile. Additionally, there is no concrete reason behind the current Loom Network price surge making it difficult to predict how long the rally will last.
Loom Network price prediction
At the current rate, analysts expect the LOOM token to get above $0.2 by the end of the week.
However, the token must first undo the current pullback that has seen its price drop from a daily high of $0.1384 to its current price of $0.1155.
$LOOM social media trends
🏹1D Logarithmic Chart has MET and BROKEN the TARGET at $0.1114 and is currently holding just below!
– JAVON⚡️MARKS (@javonnnm) September 11, 2022