Coinbase is set to halt LRC-USD trading around 2 p.m. ET on August 7. This move will result in the closure of a Coinbase-hosted dollar market, while still allowing customers to access their balances and make withdrawals.
According to Coinbase’s notice, this change will affect Coinbase.com Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime. As of now, Coinbase is still monitoring the situation and has kept LRC-USD in limit-only mode. The exchange has not yet confirmed the completion of the suspension of LRC-USD trading.
Loopring’s own exchange is no longer operational, as stated on their official homepage. They announced the end of DEX trading and the offline status of the relayer on June 28. Loopring later reported returning funds to Ethereum addresses and directed excluded cases to a manual recovery process with a deadline of August 15.
Other platforms such as Kraken and OKX are still offering LRC trading options. However, users must ensure network support, deposit availability, and jurisdictional eligibility before transferring tokens.
The broader market has shown concentration, with CoinGecko reporting LRC near $0.01031 and around $3.53 million in 24-hour volume across various exchanges. Price weakness was observed before the scheduled halt, with reported volume increasing.
Coinbase’s planned suspension does not freeze customer balances but will remove the dollar market. Withdrawals are still available, but users must ensure compatibility with the destination network and jurisdiction.
This information is vital for cryptocurrency traders and investors to navigate the changes in the market effectively.
