Loopring

Million

Foundation

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/loopring-founders-large-transfer-to-binance-causes-investor-concern/" data-wpel-link="internal">Loopring Founder’s Large Transfer to Binance Causes Investor Concern</a><br></p>
<p style="text-align: justify">The founder and former CEO of Loopring, an open protocol designed for creating decentralized crypto exchanges, <strong>Daniel Wang</strong> has caused panic among altcoin project investors with his recent actions. On-chain data provider Spot On Chain reported that Wang has deposited $8.41 million worth of LRC to the largest cryptocurrency exchange <a href="https://en.coin-turk.com/binances-industry-recovery-initiative-transparency-issues-and-investments/" data-wpel-link="internal">Binance</a> in the last 24 hours.</p> 
<h2 style="text-align: justify" id="strong-deposits-34-88-million-lrc-to-binance-strong"><strong>Deposits 34.88 Million LRC to Binance</strong></h2> 
<p style="text-align: justify">According to Spot On Chain, Loopring’s founder and former CEO Wang has deposited 34.88 million LRC to Binance exchange at an average price of $0.241 per LRC in the last 24 hours. This move of transferring LRC to Binance indicates a direct sale. The on-chain data provider noted that Wang received the mentioned tokens from the <strong>Loopring Foundation</strong> on December 29, 2023.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-313610" src="https://coin-turk.com/wp-content/uploads/2024/02/Altcoin-LRC.jpeg" alt="" width="603" height="654"></p> 
<p style="text-align: justify">Although the price of LRC has risen by about 5% over the last 7 days, at the time of writing this article, it has seen a 1.32% decrease in the last 24 hours, trading at $0.2381. It’s worth noting that the trading volume of the altcoin has decreased by 17.08% in the last 24 hours, sitting at $9 million.</p> 
<h2 style="text-align: justify" id="strong-loopring-price-analysis-strong"><strong>Loopring Price Analysis</strong></h2> 
<p style="text-align: justify">Despite facing a slight pullback after the founder and former CEO’s substantial sale, Loopring’s LRC is showing strength by trading above the support level of $0.223.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-313612 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/LRC-Fifyat-Analizi-e1707722039385.png" alt="" width="2068" height="840"></p> 
<p style="text-align: justify">From a technical perspective, the first critical threshold for LRC appears to be $0.242. Should the price surpass this threshold, it is expected to rise first to the pivot level of $0.2583 and potentially climb to $0.3373 if the upward trend continues. The fact that the recent peak was recorded at this threshold indicates a need for a strong breakout. A firm breakout above the $0.3373 threshold could lead to continued upward movement, with sequential target levels of $0.4091 and $0.4964 anticipated.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/loopring-founders-large-transfer-to-binance-causes-investor-concern/" data-wpel-link="internal">Loopring Founder’s Large Transfer to Binance Causes Investor Concern</a></h5>

Loopring Founder’s Large Transfer to Binance Causes Investor Concern

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