The Loom Network (LOOM) token has recovered to see gains of 54% in the past 24 hours

The Loom Network token has reached the $0. 16 level after trading between a narrow range of $0.09–$0.12. The token’s strong rise was accompanied by an increase in volume. If the bull momentum continues, the token could be 2x or 5X higher than the current levels. The LOOM token registered a total trading volume of $585,389,220 yesterday.

How and where to purchase Loom Network in the UK

To trade in crypto tokens you need an account with a broker/exchange. To open an account, you will need your full name, email address, and telephone number. Before you can trade, most regulated platforms will require you to verify your account. Simply submit proof of your identity and address, such as a driver’s license or a utility bill, to verify the account. After the platform verifies your documents, the account will be activated and you can deposit funds.

It is best to avoid decentralised exchanges, as they are not regulated. We have chosen two top platforms that allow you to open an account within minutes.

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. Its social copy trading capabilities make it an excellent choice for beginners.

Buy LOOM with eToro today

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

LOOM today with Binance

What is the Loom Network?

The Loom Network is a scaling platform with multi-chain support. It allows interoperability among different blockchain networks. It currently supports Tron, BSC chain, and Ethereum. In the future, EOS and Cosmos will be supported by the network. The LOOM token can be used to pay transaction fees within the network. Users can also stake coins to receive rewards. Loom Network users can make transactions for free by paying a monthly fee to developers.

Should I buy LOOM now?

The current uptrend in LOOM token prices could lead to handsome returns for early adopters.

Below is the weekly chart for LOOM that shows a steady rise before the current parabolic spike pushed the price to the current level of $0.16. If the token can break the $0.2 zone of strong resistance, it could rise higher towards the $0.5 levels. 23, then it could rise higher towards the $0.5 levels and beyond.

LOOM weekly chart. Source: CoinMarketCap

This article is informational only–none of the contents should be construed as financial or investment advice.