Loopring has stopped its go-to-centre exchange and self-service. Companies have disclosed that limited long-term user growth, insufficient business expansion and increased competition for a new generation of ETA networks make it difficult for the project to continue to operate.
Transaction services stopped
The team on platform X indicated that all transaction services had been stopped and the agreement was closed. The Loopring Early Zero Knowledge Rollup technology was long, but the team acknowledged that the lack of virtual machine capacity in the existing architecture limited portfolioability and reduced the space for practical applications such as payment.
Loopring grouped the closure into three points: insufficient user adoption, limited business development capacity, and competitive pressure on the zkEVM network. The team stated that the project had invested more in technological development but had not established a sufficiently solid business base.
User assets will be returned in batches
The bulletin also mentioned that the LRC had experienced the fall of the exchange in 2026, further expediting the withdrawal of the platform. The development team indicated that instead of continuing to maintain a “shelling” service, it would be better to terminate operations directly.
Loopring states that the final user balance will then be accounted for, then the remaining assets will be sent directly to their respective ETA wallets by batch, and the associated Gas costs will be borne by the team.
TVL is 99% below peak.
According to L2Beat data, Loopring at the height of the cattle market in November 2021 had a total lockout of about $760 million; it has now fallen to about $8 million, close to 99 per cent above its peak. The LRC price also fell from a historical high of about $3.75 to about 0.01.
Loopring worked with GameStop in 2021 to provide the latter with bottom-up support for the NFT market, which went online the following year. However, with the accelerated development of the zkEVM network, which is compatible with the utensils, Loopring ' s specialized design has gradually lost its competitiveness.
Additional information:RootData statistics show that more than 60 encryption projects or protocols stopped service in 2026. Prior to this, Pyra, Carrot and Botanix Labs had declared their operations closed or downsized.