Loopring’s network suffered a significant breach, with hackers stealing over $5 million. This incident has led to a predictable drop in Loopring’s market cap, as trust among the crypto community has diminished. The ensuing Fear, Uncertainty, and Doubt (FUD) has compounded a 22% decline in $LRC over the past four days, potentially presenting a buying opportunity amid widespread fear. 
Loopring’s network was compromised by a hack valued at over $5M. The project’s market cap has predictably dropped as trust among the crypto community has shrunk. FUD is likely compounding the -22% $LRC 4-day drop, and there is a likely
The post Loopring Network Hit By $5M Hack, Market Cap Drops Amidst FUD appeared first on The Merkle News.
]]>Investors are expressing apprehension following news that Daniel Wang, the creator and former CEO of Loopring, a decentralized exchange protocol, transferred a significant portion of the system’s token, LRC, to Binance, the leading cryptocurrency exchange platform. This move has contributed to a decline in the token’s value, which had experienced a 5% increase over the past week but dipped by nearly 2% today. According to data from spotonchain, Daniel Wang (@daniel_taikoxyz) deposited 34.88M $LRC ($8.41M) to Binance at a price of $0.241 just a few hours ago. These tokens were received from the Loopring Foundation on December 29, 2023. Daniel
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Following a bearish start to the day, XMR climbed to a two-week high during today’s trading session. Gains in monero come as LRC also saw its price move higher, rising for a fifth consecutive day, as it approaches a multi-week high of its own. Monero (XMR) Monero extended a recent bullish streak during today’s session, […]
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Loopring was trading by over 42% on Wednesday, overtaking QNT as the world’s 65th largest crypto in the process. This came as ethereum classic was trading 10.30% higher on the day, taking its one week gain to over 80%. Loopring (LRC) On Wednesday, loopring (LRC) rose to its highest level in three months, a move […]
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]]>Loopring price continues to trade sideways at $2.7 after hitting an all-time high of $3.6 on November 10th. Loopring’s ecosystem continues to grow and recently placed as the fourth-largest Layer-2 network by market share, following Arbitrum, Boba Network, and dYdX. Is LRC ready for a breakout above $3? Let’s find out. What Is Loopring? Loopring is a Layer-2 network looking to solve Layer-1’s congestion. There are a variety of Layer-2 solution networks implementing different scaling algorithms such as Optimistic Rollup, ZK Rollup, Plasma, and Validium. Loopring uses ZK Rollups, a scalability solution allowing blockchains to validate transactions faster while also
The post Loopring Price Continues To Show Strong Support at $2.7, Is LRC Ready for a Breakout? appeared first on The Merkle News.
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]]>Loopring continues to see astronomical price gains this week as it set a new all time high of $3.04. With a 24 hour trading volume of $6.1 Billion, LRC is the second most traded pair on Binance. Let’s take a look at recent Loopring news and see why the price is rising. What Is Loopring? In the simplest terms possible, Loopring is a layer 2 scaling solution for Ethereum. It’s build on top of the Ethereum network and allows users to trade digital assets with far less fees. One of the biggest problems with Ethereum, especially for new users, is
The post Loopring Price Continues Astronomical Rise, up 300% In a Week appeared first on The Merkle News.
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