Coinbase is pulling Loopring trading today – finding a safe place to sell LRC tokens is getting complicated

Coinbase is scheduled to suspend LRC-USD trading on or around 2 p.m. ET on Aug. 7. If completed, the move would close a Coinbase-hosted dollar market while keeping customer balances accessible and withdrawals available.

Coinbase’s notice said the change covers Coinbase.com Simple and Advanced Trade, Coinbase Exchange and Coinbase Prime. As of press time, Coinbase still marked the incident as Monitoring and kept LRC-USD in limit-only mode. The exchange had not yet confirmed that the LRC-USD trading suspension was complete.

Outside LRC-USD trading is thinner and concentrated

Loopring’s own exchange is not an alternative. Its official homepage says the project has shut down and is no longer operational. The project’s June 28 announcement said DEX trading would end immediately and the relayer would go offline.

Loopring later reported that it had returned about $7.40 million in ETH and 72 ERC-20 tokens to 31,644 paid Ethereum mainnet addresses across 142 batches. It directed excluded smart-wallet cases to a manual recovery process with an Aug. 15 deadline.

Outside venues showed other markets before the scheduled Coinbase cutoff. Kraken listed LRC/USD and LRC/EUR, and its asset page supported LRC on Ethereum. OKX’s U.S.-localized page displayed LRC/USDT and LRC/USDC. Those listings do not establish deposit, withdrawal or execution access for a specific user. Holders would still need to confirm network support, deposit availability and jurisdictional eligibility before transferring tokens.

The broader market was already concentrated. At about 10:50 a.m. ET, CoinGecko displayed LRC near $0.01031 and about $3.53 million in reported 24-hour volume across 46 exchanges and 55 markets. BitDelta accounted for 48.49% of displayed volume, but its row showed a 4.32% spread and $0 on both sides of the 2% depth metric. BitDelta, Paribu, WhiteBIT and BtcTurk together represented 74% of displayed volume.

Price weakness also predated the scheduled halt. CoinGecko’s UTC daily series shows LRC closing at $0.01081911 on July 7, down 13.9% from $0.01256454 on July 6, while reported volume rose from about $1.98 million to $2.41 million. The full-day figures cannot isolate trading after Coinbase’s announcement or establish that the notice caused the decline.

Coinbase’s planned suspension does not freeze customer balances, but it would remove its dollar market while Loopring’s DEX is offline and reported activity is concentrated on venues with uneven displayed depth. Withdrawals remain available under Coinbase’s notice; using them requires a destination that supports LRC, the chosen network and the holder’s jurisdiction.