Loopring

Token

Foundation

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/loopring-founders-major-lrc-transfer-to-binance-stirs-investor-anxiety">Loopring Founder’s Major LRC Transfer to Binance Stirs Investor Anxiety</a><br></p>
<p style="text-align: justify"> Daniel Wang, the founder and former CEO of the decentralized exchange protocol Loopring, has unnerved investors by moving a significant amount of the protocol’s token, LRC, to Binance, the leading cryptocurrency exchange platform. The on-chain analytics firm Spot On Chain observed the transaction, revealing that Wang transferred $8.41 million worth of LRC to Binance within the past day. </p> 
<h2 id="massive-lrc-token-movement-detected">Massive LRC Token Movement Detected</h2> 
<p style="text-align: justify"> Spot On Chain reports detail that the founder of Loopring transferred 34.88 million LRC to the Binance platform, with each token valued at $0.241. This large deposit, sourced directly from the Loopring Foundation last December, suggests a potential sale on the horizon. The substantial volume of tokens transferred by Wang could have market-moving implications. </p> 
<p style="text-align: justify"> Despite a week-long uptrend resulting in a 5% increase in value, LRC experienced a 1.32% price dip in the last 24 hours, now trading at $0.2381. Alongside the price drop, the trading volume for the altcoin has also decreased by over 17%, currently standing at around $9 million. </p> 
<h2 id="technical-analysis-and-market-outlook-for-lrc">Technical Analysis and Market Outlook for LRC</h2> 
<p style="text-align: justify"> Even with the recent sell-off pressure, Loopring’s LRC token remains resilient, holding above its pivotal support level of $0.223. The <a href="https://en.bitcoinhaber.net/crypto-market-update-recovery-predictions-and-challenges">technical analysis</a> indicates key resistance levels, with $0.242 being the initial hurdle for LRC’s price to overcome. </p> 
<p style="text-align: justify"> If LRC manages to break past this resistance, further growth could see it reach $0.2583 and, if the bullish momentum persists, even $0.3373. The recent high at these levels suggests that a decisive breakout is needed to sustain an upward trajectory. Such a breakout could potentially lead to a continued rise, with the next targets projected at $0.4091 and $0.4964.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/loopring-founders-major-lrc-transfer-to-binance-stirs-investor-anxiety">Loopring Founder’s Major LRC Transfer to Binance Stirs Investor Anxiety</a></h5>

Loopring Founder’s Major LRC Transfer to Binance Stirs Investor Anxiety

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