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Loom Network (LOOM)

Market Cap

$58,247,344 USD

Volume (24h)

$6,239,060 USD

3.9
SAFETY

Ranking factors:

  • Markets

    How many exchanges are there to trade this coin?

    Loom Network Markets Rank: 10/100

  • Volume Ratio

    How actively is this asset being traded on the market?

    Loom Network Volume Ratio Rank: 11/100

  • Market Cap

    The total cost of all coins available.

    Loom Network Market Cap Rank: 97/100

  • 24h Change

    Is the price moving up or down?

    Loom Network 24h Change Rank: 50/100

  • Social Following

    How many users are following this coin?

    Loom Network Social Following Rank: 57/100

  • Google Trends

    How many users are searching for the coin?

    Loom Network Google Trends Rank: 26/100

  • Twitter Citation

    How many users are talking about this coin in Twitter?

    Loom Network Twitter Citation Rank: 10/100

  • User Voting

    How popular is this coin among Cointobuy community?

    Loom Network User Voting Rank: 97/100

Loom Network investment analysis

This project is a scalable blockchain that's intended to be used for the distribution of games and social applications. By utilizing the blockchain, they plan to allow even hobbyist developers to distribute their games on an even playing field. Developers and players will be able to use monetized tokens that can be traded throughout games or even cashed out at a later time.

This allows for the creation of "scarce" collectibles that can attain real-world value. In order to combat the issues which are inherent with Ethereum itself, this ERC20 token runs its applications on side chains to avoid clogging up the main network if a game gains popularity too quickly.

While it's unlikely that big game developers will ever adopt a system such as this, they are not the key audience. The main users will likely be those small-scale developers that may be comprised of only one or two people. Players can also trust these games as it's run on an open source software, and everything is secured by smart contracts. It's an interesting concept, and in the future your Loom Network investment could usher in a new era of gaming where people may have to accept that digital items have value.

How to buy?
current price
$0.073789
Potential Profit

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.

+10.7%
Potential Price

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.

$0.081686
Rankings

The current coin position in cryptocurrency rankings by Safety Rank and Potential Profit.

163/2213
by Safety
1915/2213
by Profit
historical data

How to buy Loom Network?

You can only buy Loom Network on just a few exchanges. However, there seems to be ample trading volume for both Bitcoin and Ethereum, which will make it easy for you to make a swap. Unfortunately, most of the volume seems to be on one exchange, effectively reducing your options.

This is an ERC20 token, and that means you can store it in any wallet that is compatible with various Ethereum based tokens. The most popular choice for this is My Ether Wallet. However, if you'd prefer a cold storage option for added safety, then you could check out the Ledger or Trezor hardware wallet options as well.

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Is it safe to invest in LOOM now?

This asset seems to have weathered the bear market very well. In fact, they are actually sitting at their all-time high price. It may be wise to wait for a dip if you plan to invest in LOOM, however, with the overall market volume increasing, that dip may not come for a while. They've had some good news on the social media front which may have positively affected the price.

The time to buy will be up to you, but the price of this token has almost doubled in the past month. However, if you look at the Loom Network analysis you may find that volume is a green flag rather than a red one. Their platform already has several applications running on it, which you can view at their website. Crypto Zombies alone boasts over 130,000 players. This is essentially a game that is intended to teach the befuddled masses about blockchain technologies.

They've also made some interesting partnerships, including one with a fast-growing Asian game developer. If the benefits are there, then I'm sure more will follow soon. Especially those who may currently be getting a raw deal with other platforms such as Android or iOs.

Their team seems to be very active in social media, which is a plus for any coin. It's also earned them some notable attention. Vitalik Buterin gave them a shout out for adopting plasma technology for their project. That's about as good of an endorsement as you can get in the crypto world.

Social media is likely the most effective advertising avenue for them, and no doubt when more developers start using their system it will boost their popularity. While the idea of building applications that can be tokenized is nothing new, this project seems to be making the right moves to acquire their own piece of the pie.

While most of these platforms seem to be aimed at everyone, this one might just find success by being a little more selective. While often the question is "what is the blockchain good for", this project will tell you exactly what they want you to do with their software. Things look very good for this project based on these factors.

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