Loom Network (LOOM) has outperformed all other top 100 altcoins in terms of weekly and even daily gains, surging 120% in the last seven days. Although $LOOM remains about 50% lower than its all-time high in 2018, the recent surge in its price has reignited interest in this once-overlooked project.<\/p>\n
The recent price increase appears to lack clear announcements, raising questions about whether it’s due to market dynamics or potential manipulation.<\/p>\n
In this article, we’ll delve into $LOOM price predictions, provide clarity on the LOOM token supply, and explore a recently launched stake-to-mine crypto project capturing the crypto community’s interest.<\/p>\n
Loom Network, established on October 1st, 2017, is a platform-as-a-service built on top of Ethereum, designed to empower developers to operate large-scale decentralized applications<\/a> (dApps).<\/p>\n Its primary objective is to grant application developers the capability to utilize smart contracts with enhanced computational power on demand or at reduced costs for specific tasks, such as user onboarding trials or applications not necessitating full blockchain security.<\/p>\n Within this framework, users have the capacity to interface with off-chain APIs provided by third-party developers.<\/p>\n