Loom Network (LOOM) Price 2020
The current price of Loom fluctuates around $0.017665; the total market capitalization is $17,121,508 or 1,979 BTC, which makes Loom one of the 170 most popular digital currencies as of January 2020. The circulating supply is 969,227,142 LOOM, while the total supply is 1,000,000,000 LOOM. The daily trading volume is around $8,318,207 or 961.30432841 BTC. Loom is trading on several major markets, yet the most active exchange that trades LOOM is Binance.
The all-time high of Loom, $0.774454, was reached on May 04, 2018 – outside the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of LOOM, $0.013846, occurred not long ago on November 25, 2019. Currently, the estimated ROI (return on investment) of Loom is -76.75%, which means that $100 worth of LOOM bought at the time of the Loom launch would not yield any profit today.
The most recent price trend of Loom appears to be slightly positive. While in 24 hours, the price of LOOM rose by 1.88%, the 7-day price dynamics show a 3.38% increase in the price of LOOM. Despite that, the price predictions for Loom are usually quite pessimistic. According to WalletInvestor, Loom is a bad long-term investment. In one year from now, the price of LOOM may be as low as $0.00115, which would mean a drastic decrease compared to the current price. Moreover, it is worth mentioning that price manipulations of LOOM are possible due to a relatively low market capitalization, so one should be very careful when investing in Loom.
What is Loom Network (LOOM)
Loom Network (LOOM) is a Blockchain-as-a-Service platform that enables Ethereum-based solidity applications to run on side chains. The Loom Network team believes that applications should have more relaxed consensus mechanisms depending on their needs and potential threat model. The ultimate goal of Loom is to make scaling decentralized applications faster and easier while staying on the Ethereum network. Loom Network’s DPoS sidechains allow for truly scalable blockchain games and DApps with the security of Ethereum mainnet.