RATE Group | Crypto project Loom Network is now officially dead
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Crypto project Loom Network is now officially dead

09 May Crypto project Loom Network is now officially dead

Posted at 13:58h in Cryptocurrency News by

  • An Ethereum-centric cryptocurrency, Loom Network, was recently proclaimed officially dead.
  • The coin has only a fraction of its former market cap, and it appears that its officials have abandoned it.
  • A brief check also confirmed that its social media is either shut down or abandoned as well.

The crypto industry saw major recovery after a price crash caused by COVID-19 fears in mid-March. However, while the majority of the coins — especially larger ones — did see significant growth, that did not include all cryptos.

An altcoin that only two years ago had a market cap of over $400 million was just officially proclaimed dead. The project in question is known as Loom Network (LOOM).

Loom Network: A good start and a disappointing end

LOOM is, or rather — has been — an Ethereum-centric project that is now officially proclaimed dead by the top developer in the space.

The project is not very well-known, even though its market cap climbed to nearly half a billion in early…

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