Online broker etoro has provided an update regarding Loopring (LRC).
From Monday, July 27, 2026, $LRC will be set to Close Only on the etoro platform.
Traders can continue to manage and close their existing LRC positions. If eligible, etoro clients can transfer their LRC from their etoro trading account to their etoro Wallet.
Opening new LRC positions will no longer be available from July 27. If you currently hold $LRC, please review your position in your portfolio.
Loopring is a project founded in China by a former Google software engineer named Daniel Wang, in 2017, with the aim of overhauling the Ethereum blockchain by increasing the speed at which the existing smart contracts systems operate. The native token used within the Loopring project is LRC.
While Loopring uses multiple cryptocurrencies, its native altcoin LRC is necessary for key operations on the protocol. The token’s initial coin offering in 2017 raised 120,000 in ether, with a value of around $45 million.