An update on the partnership between Loopring and GameStop sent $LRC soaring. Liqquidity reports
, the native token of Ethereum scaling network Loopring, soared in digital-asset markets on Wednesday after the blockchain project shared an update on its partnership with GameStop, the video game retailer whose volatile and sometimes coordinated price action in early 2021 made it a darling of meme stock traders.
The LRC token's price rose 34% over the past 24 hours to $1.14. The gain was the biggest of the day among cryptocurrencies with a market capitalization of at least $1 billion, according to the data provider Messari.
The new project"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies," Browman wrote. Users can get early access to the project now to set up usernames and profiles as well as making deposits, according to the post., designed to handle speedy and low-cost transactions alongside the Ethereum network, which is categorized as a"layer 1" or"L1" blockchain.
"You can mint NFTs directly on Loopring L2 for fractions of the costs of minting on L1 while inheriting Ethereum L1 security," Browman wrote.
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