The altcoins for two Ethereum network scaling solutions are continuing to trend upwards despite the overall crypto market correction of the last week.
Scaling solution blockchains are typically second-layer protocols like off-chain layers or side chains built on top of main chains like Ethereum to increase transaction throughput. The Loopring (LRC) platform is one such scaling solution, empowering users to develop Ethereum-based decentralized exchanges (DEXs).
Loopring has seen incredible growth over the last month, increasing in value by approximately 140% over the past two weeks. Despite being down 17% on the week, LRC is trading at $2.67 at time of writing, up 15% over the last 24 hours.
Another scaling solution seeing huge gains today is Immutable X (IMX), the first zero-knowledge rollup (ZK-rollup) for non-fungible tokens