Loom Network (LOOM)
Loom Network is a multichain interoperability platform — live in production — that s connected to other major blockchains such as Ethereum, BNB Chain, and Tron.Deploy your dApp just once to Loom Network s Basechain and reach the largest user base possible, so you can simply focus on your dapp development and business growth.Enjoy having no gas fees for users, 1 – 3 second confirmation times, and automatically get connected to every major blockchain using any kind of wallet.
1. Basic Info
| Symbol | LOOM |
| Name | Loom Network |
| Web Site | https://loomx.io/ |
| Wallet | -- |
| Source | -- |
| Explorer | https://etherscan.io/ |
| Forum | -- |
| Mining | |
| Supply | 1300000000 |
| Available Supply | 1240020000 |
| Market Cap | 75728021.4 |
| White Paper | -- |
| Is ICO | None |
| Raised Funds | - |
| Distribution | - |
| Algorithm | -- |
| Proof | -- |
| Total | 1300000000 |
| Release Date | 2018-03-15 |
2. Technical
2.1 Kline Price Chart
2.2 Technical Analysis
The data reveals a volatile trading period characterized by significant price swings and fluctuating volume. Initially, from December 7th to December 11th, the price experienced a downward trend followed by a sharp increase on December 9th accompanied by very high volume suggesting strong buying pressure. However, this upward momentum was unsustainable. From December 12th to December 17th there was a gradual decline in price. A significant drop occurred on December 18th, reaching an intraday low of 0.04362. From December 19th to December 21st a recovery of prices occurred. Further price fluctuations persisted from December 22nd to 27th with a notable peak on December 24th on an extremely high volume of over one million, then a subsequent sharp drop. December 27th saw the lowest close at 0.05536 with an exceptionally high volume suggesting a potential point of capitulation. From December 28th to December 31st a recovery phase transpired, then from January 1st to January 3rd, a bullish pattern emerged with price recovery. However, from January 4th to January 5th, this bullish trend seemed to stall, as the price moved slightly up and down in a narrow range with much lower volume which indicates waning momentum. The price currently appears to be in a consolidation phase after a period of heavy volatility and strong directional movement. Based on the recent price action, the next couple of days might see relatively flat price action with reduced volume. Overall the price appears to be under consolidation pressure, there is still a bearish undercurrent but recent bullish signals are significant so it’s wise to remain observant before making a concrete trend confirmation. It needs more confirmation from subsequent price action.
