The Loom Network (LOOM) has stunned the cryptocurrency market with a massive uptrend over the past two days. The token has become zero in a span of two days.
On September 11th, LOOM was trading around $0.04 and today it is trading at $0.1117.
To help traders who want to take advantage of the Loom network price increase, CoinJournal has prepared this short guide on where to buy Loom coins.
To know more, please continue reading.
Best Places to Buy Loom Network Coin
coinbase
Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and offers a wide array of coins, as there are over 100 to choose from. Coinbase has a high level of security built into the platform, has a range of diverse features to use and offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange. .
Buy Loom today with Coinbase
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited for more experienced investors and it offers a large number of cryptocurrencies to choose from, over 600. Binance is also known for its low trading fees and multiple trading options from which its users can benefit, such as; Peer-to-peer trading, margin trading and spot trading.
Buy LOOM with Binance Today
What is Loom Network?
Loom Network was founded in 20127 and is a service built on the Ethereum blockchain. It runs on Plasma, a scaling solution that allows for fast transactions across the network.
The main objective of the Loom network is to give developers access to smart contracts that have a lot of computing power and can maintain the same power at a lower cost for tasks such as onboarding new users. It also provides services for applications that do not require the full security of the blockchain.
The Loom Network provides developers with an opportunity to interact with APIs developed by third parties and these APIs are not on-chain. This allows smart contract developers to build applications without the need to switch to another programming language.
The Loom Network has a native token called the Loom Network (LOOM) that is used to pay for services on the network. The LOOM token is an ERC-20 standard token.
Should I buy a loom today?
If you are looking to invest in a cryptocurrency that has posted three-digit gains in the past two days, LOOM can be a good option.
However, it is important to note the fact that the cryptocurrency market is very volatile. Additionally, there is no concrete reason behind the current surge in the price of Loom Network, which makes it difficult to predict how long the rally will last.
Loom Network Price Prediction
At current rates, analysts expect the LOOM token to rise above $0.2 by the end of the week.
However, the coin must first undo the current pullback that saw its price fall from a daily high of $0.1384 to its current price of $0.1155.
$LOOM Social Media Trends
The 1D Logarithmic chart has completed and broke the target at $0.1114 and is currently just below!
With prices up, the loom target would be at $0.1898 and they could push an additional +60% to reach that! https://t.co/rkxyJagCLj pic.twitter.com/YkXe3tOR1q
— javon️MARKS (@javonnnm) 11 September 2022