LRC gets a taste of the 'Coinbase Effect'

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Ibis
Sep 16, 2020


It’s nice to know that the old ‘Coinbase effect’ is still very much alive in 2020.


Following the listing announcement on Coinbase Pro five days ago, Loopring’s native token LRC) has gone predictably ballistic, currently up +41.% for the week and ballooning to a 2-year high $0.29 earlier today:

LRC, price, last 30 days (Source: Sanbase)

For the uninitiated, Loopring is an open-source protocol for building non-custodial, order book-based exchanges on Ethereum by leveraging zkRollups. The project has gained increased attention recently in light of Ethereum’s ongoing transaction fee hike, as even Vitalik himself suggested Loopring could help alleviate network congestion:

Even prior to the Coinbase Pro announcement, a number of market observers has been warming up to the Loopring protocol, lauding its tech and praising its ‘almost’ fee-less infrastructure:

Add a Coinbase Pro listing to the mix, and it’s

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Assets from this insight

Loopring logo

LoopringLRC

$ 0.220496

18.27%in last 7d
0