In a surprising twist, the Loom Network’s LOOM token has taken the crypto world by storm, surpassing even Bitcoin in recent discussions. The altcoin’s impressive performance has seen its value skyrocket by over 570% in just one month.
The buzz around LOOM began after an X (formerly Twitter) post by Santiment on October 13, highlighting its dominance in social media conversations. The altcoin’s rally defied the bearish trend in the market, with its price jumping from $0.038-$0.039 to $0.268.
The Loom Network’s spotlight moment has overshadowed other cryptocurrencies like Bitcoin and Dogecoin, which have been embroiled in their own dramas. Bitcoin’s discussions have been influenced by the testimony of Alameda Research’s ex-CEO, while Dogecoin has been relegated to ninth place in trending topics, despite being the leading meme coin.
Other cryptocurrencies like Kaspa Network (KAS) and USDR have also been part of the discourse, with KAS experiencing a significant rally and USDR facing a de-pegging issue. Tokens like AZERO, CRO, FRAX, and XCN have also been mentioned frequently.
As for the Loom Network, its LOOM token remains at the forefront, with a 25% increase in the last 24 hours and a 516% surge in the last 30 days. The token’s current price stands at $0.26, as per CoinMarketCap data, making it one of the top gainers in the crypto market.
Source: bitcoinist.com