Follow-up Tracking Rating: LOOM| Rank: BB| Risk: Medium-


Loom Network(LOOM)

Rank: BB
Risk: Medium-
Rating standard

AAA>AA>A

Excellent project with high value, Highly recommended

BBB>BB>B

Quality project with upper middle value, Normally recommended

CCC>CC>C

General project which have certain potential

DDD>DD>D

Low quality project with not much value, Not recommended

E

Fraud or scam project with no value, Strongly not recommended

Disclaimers

The sources of information in this report mainly based on the market disclosure information, and the social part of data is mainly collected from projects’ English communities. Gyro Finance does not guarantee a hundred percent sure of the accuracy, reliability or completeness of those information. It is used as a reference only and should not be used as some kind of investment guidance or advice.

Overview

Project Name: Loom Network

Established: October 2017

Registered address: N/A

Official website: https://loomx.io/

Loom Network is a Layer 2 scaling solution for Ethereum that is live in production. It is a network of DPoS sidechains, which allows for highly-scalable games and user-facing DApps while still being backed by the security of Ethereum.

Community

Based on the data we collected, the LOOM project has a number of fans all around the world. For English communities, the followers are mainly gathered in Telegram and Twitter, and they are pretty active. After a few days of observation, we noticed that most of the discussions are mainly about the DApps related to Loom Network, or the latest update. But in general, the interaction between LOOM officials and the followers are just above average if you count all social channels’ data, the officials mainly use the social channels for disclosures of project progress and some events update.

Through the data from Etherscan.io, LOOM currently has 7,194 holders addresses. The top 10 holders addresses account for 65.13% of the total amount, and the top 100 holders addresses account for 90.71%, which is basically the same as we counted two months ago. It should be noted that there are 3 exchange wallet addresses (belong to Binance_5, Bittrex_1, Binance_1)in the top 10 holders addresses. Besides the top 10 holders addresses, the LOOM tokens are pretty evenly distributed.

Token Analysis

According to Coinmarketcap data on October 24, the current price of LOOM token is $0.12306, which is nearly doubled the price when Gyro Rating marked the price of LOOM two months ago. In the past two months, the whole croptocurrencies market cap has been a pretty bumpy ride, but the LOOM team has been continuously polishing the project, and the price has been continuously choppy.

Another thing should be noted is that currently LOOM ranks the 88th among the global cryptocurrencies market cap, and it has been listed on 20 crypto exchanges. The transactions are mainly in the Allbit, Binance and Bithumb. From its market performance of the most recent month, LOOM’s price trend is in a state of volatility, especially during the period from October 10 to 14, the price once exceeded $0.14, and the trading volume also increased significantly. However, as prices began to fall in the past week, the trading volume also fell at the same time.

Information disclosure

The official team from Loom Network usually update the latest information about the development and events on the social channels such as Medium and Twitter. Recently, the team mainly disclosed the development progress of LOOM SDK and its games cooperation. From what we can see from the official channels, the newest games which are using LOOM SDK at the moment were CryptoWars and CryptoZombies. And the other updates are mostly about the Loom Sidechain, the Plasma User Guide, the custom engines for blockchain games, and ERC721x, etc.

In addition, the develope team from Loom Network update their LOOM projects very frequently, and most of the the latest update were made within 1 day or less. And there has been a number of DApp were based on Loom Network, such as the Q&A community DelegateCall, online interactive programming learning website CryptoZombies, code sharing community EthFiddle, SolidityX, etc.

Conclusion

In general, compared to the first time rating of LOOM by Gyro Research two months ago, the latest two months development of LOOM’s is worthy of recognition. And this has helped with its Token price, which has been nearly doubled compared with its price two months ago.

Overall, as an Ethereum-based sidechain and development platform, Loom Network has a great potential of market growth. In addition, from the official social channels of Loom Network, we can see that Loom Network is also actively developing and updating the progress of the project. The future of Loom Network is worth looking forward to.

Twitter: https://twitter.com/tuoluocaijing

Website: https://www.tuoluocaijing.cn