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LOOM Price Prediction 2024-2030: Is the Loom Network a Good Investment?

For professional dApp developers, Loom Network (LOOM) has emerged as a production-ready, multichain interoperable platform. The platform provides developers the information and resources to create and distribute high-performance decentralized apps. Additionally, it provides the technology necessary for these dApps to offer a quick and smooth user experience across several chains.

The Loom Network runs on Plasma, a scaling solution that allows faster transactions throughout the network. LOOM aims to allow application developers to create smart contracts that can access much more computing power when required or maintain the same power at lower costs.

Loom makes scaling decentralized applications faster and easier on the Ethereum network and uses the DPoS sidechains for scalability with DApps through the security of the Ethereum mainnet. With the Merge, we can expect more improvement in transactions. The LOOM token acts as a membership token that each member receives to get access to all the apps that run on the Loom Network itself. 

While some analysts believe the coin’s value will rise in the future, others believe it will fall. It is critical to remember that projections, especially long-term projections, should be viewed as indicators rather than conclusions.  

If you want virtual currencies with good returns, LOOM can be a good, high-risk investment option. What’s the future price outlook for the Loom Network?

Read more: Vitalik Buterin unveils crypto breakthrough: Meet Plasma reborn

LOOM price analysis

LOOM Price Prediction 2024-2030

LOOM Price Prediction by Cryptopolitan

YearMinimum Price $Average Price $Maximum Price $
2024$0.21$0.22$0.26
2025$0.30$0.31$0.36
2026$0.42$0.44$0.52
2027$0.61$0.63$0.71
2028$0.85$0.88$1.04
2029$1.28$1.31$1.50
2030$1.91$1.98$2.21

LOOM Price Prediction 2024

According to our LOOM price prediction 2024, we expect a minimum price of $0.21 and an average price of $0.22. However, If LOOM’s growth trajectory persists, we predict its value could reach as high as $0.26 at its peak.

LOOM Price Prediction 2025

According to our LOOM Network cost for 2025, the minimum price of LOOM will be $0.30, while the average price will be around $0.30. There is potential for significant growth in the value of LOOM during this period, with the token possibly reaching a maximum price of $0.36 by the end of 2025.

LOOM Price Prediction 2026

According to price prediction for 2026, we expect the minimum price of the coin to be $0.42 and an average predicted value of $0.44. We expect LOOM’s price to surge to a maximum of $0.52 by 2026.

LOOM Price Prediction 2027

Our LOOM price prediction for 2027 is a minimum value of $0.61 with an average trading price of $0.63. Based on the LOOM price prediction for 2027, the price could reach a maximum of $0.71 during the year.

LOOM Price Prediction 2028

Based on our LOOM price prediction for 2028, the LOOM token is anticipated to experience a bullish trend with a predicted floor price of $0.85 and an average trading value of $0.88. The highest possible price for 2028 is estimated to reach $1.04reflecting a significant increase in the token’s valuation.

LOOM Price Prediction 2029

Our LOOM price prediction for 2029 suggests that the minimum price level could be $1.28. The LOOM token will experience significant growth, with a maximum potential price value of $1.50 and an average projected value of $1.31.

LOOM Price Prediction 2030

According to our LOOM price prediction for 2030, we anticipate that the cryptocurrency’s value may drop to a low of $1.91 by year-end. However, we expect the average trading price to be $1.98 and the maximum estimated price to reach as high as $2.21.

LOOM Price History

  • The Loom Network’s smart contracts and dApps are powered by the LOOM token. It has been connected with Binance Chain and is an ERC-20 token that can also be used as a BEP-2 token. LOOM is not yet intended to become a native token.
  • The LOOM market is also unique because there has never been a public ICO. The team instead conducted a private investment round in January 2018 and raised $45,810,000 by selling 750 million LOOM tokens for $0.076 a piece.
  • On May 4, 2018, LOOM reached an all-time high of $0.774454; however, it has since dropped significantly. The LOOM token dropped to an all-time low of $0.007666 on March 13, 2020.

Source: https://coinstats.app/coins/loom-network-new/

The Loom Network’s technology was designed to solve these performance and scalability problems. They think that by offering more processing power, lower prices, and network architecture that can support unlimited transactions, they can encourage developers to create new DAapps and smart contracts.

Developers could leverage third-party APIs not on the blockchain in one such use scenario. A developer might connect to Google Authenticator to include 2-factor authentication into a DApp.

When used this way, the blockchain becomes a repository for user data. There is no possibility of servers being shut down by a centralized authority because it is a decentralized network. As a result, a valid form of digital democracy will be created, with the community having the last say on any DApps operating on the blockchain.

Buying & Storing LOOM

Many exchanges, including Binance, offer the LOOM coin. The PancakeSwap V2 exchange has the highest trading volume for LOOM on a DEX.

Although the LOOM token is listed on each of these exchanges, I did find the order books’ generally low levels of turnover to be a little unsettling. This may reduce the token’s liquidity, making larger block orders more challenging.

LOOM may be kept in any ERC-20-compliant wallet because it is an ERC-20 token. It also supports BEP-2 wallets if converted, and the ledger and the Trezor hardware wallets support LOOM. The team has also now made available a native LOOM wallet that can store LOOM.

Please keep in mind that cryptocurrency is a highly volatile market and can be unpredictable. It’s always a good idea to do your own research and consult with a financial advisor before making any investment decisions. Diversify your portfolio and do not invest more than you can afford to lose. It’s also a good idea to stay current on any developments or changes within the Loom Network environment that could impact its value.

FAQs

What is the LOOM Network?

The LOOM Network is a multichain interop platform optimized for scaling high-performance dapps that require a fast and smooth user experience.

What is unique about the LOOM Network?

The LOOM Network allows developers to run large-scale decentralized applications on multiple blockchains, including Bitcoin, Ethereum, Binance Chain, and Tron. It offers fast and low-cost transactions on its PlasmaChain network.

Who are the founders of the LOOM Network?

The LOOM Network was founded by Matthew Campbell, James Martin Duffy, and Luke Zhang in 2017.

What is the LOOM token?

The LOOM token is a proof-of-stake token used to secure the LOOM Network’s mainnet, called Basechain.

What are the uses of the LOOM token?

LOOM holders can stake their tokens to help secure Basechain and earn rewards. Developers also use the token to pay for dapp hosting on the LOOM Network.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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