Loopring DEX shut down: zkEVM rivalry send LRC kuzi $0.01 na so close

Published: 2026-06-29 11:46:24 |

Loopring DEX shut down: team don chop finish their Ethereum DEX and automated market maker (AMM), for reason say na years of weak Loopring DEX adoption, limited business development, and architectural limits. Trading services stop immediately, but protocol relayer stop work forever. Withdrawals still dey on. After final account verification, Loopring go publish balances and share the remaining money in batches straight to users’ Ethereum wallets, including Ethereum gas fees (accounts wey below $10 no include). For technical side, Loopring tok say their zk rollup DEX design no get virtual-machine compatibility, so e reduce composability and limit how people fit use am for wider dApp/payment. Dem also argue say new zkEVM-based Ethereum scaling networks pressure them, so dem get less differentiators. Market impact don show already: LRC don fall like 99% from 2021 peak (~$3.75) to around one cent. Total value locked (TVL) also fall from peak near $760M to about $8M. The matter worsen 2026 when big exchanges delist LRC, pushing liquidity and sentiment down. For traders, this Loopring DEX shutdown na direct liquidity and settlement event for LRC holders, so na likely say selling pressure go increase for short term around withdrawals and token sentiment—but for long term, people dey migrate more go newer zkEVM ecosystems.

Bearish

Wetin loopring DEX shutdown yan-take for LRC na bearish, because e remove active on-chain liquidity place (DEX/AMM) and e show say product no longer dey as strong/viable. Bile withdrawals still dey open and dem plan to send distribution go ETH wallet, relayer shut down and end of exchange service normally dey bring short-term uncertainty, possible liquidation/selling around when people withdraw, and liquidity expectation go weak. The already weak fundamentals wey dem tok about (nearly 99% TVL collapse and reduction for adoption) plus 2026 exchange delistings still dey push more negative feeling. For short term, traders fit see wahala/volatility and selling pressure around withdrawal cycle and balance reconciliation. For long term, the project own stated architectural disadvantage against zkEVM networks fit block ecosystem recovery, make demand for the token remain under pressure.