Crypto Crash 2022: Top 5 Losers in January

2. Loopring (LRC)

Decline in Price in January 2022: 51.9%

Loopring is an open protocol meant to build decentralized cryptocurrency exchanges, and the native token of Loopring is LRC. Loopring aims to develop a crypto exchange platform where the benefits of traditional centralized exchanges and decentralized applications are combined, to allow for the best of their aspects to be presented in a hybrid outcome. 

While the Loopring protocol was launched in December 2019, the LRC tokens went live back in 2017. The founder and CEO of Loopring is Daniel Wang, a Shanghai-based software engineer and businessman. Loopring currently operates on the Ethereum and Neo blockchains, and it plans to add support for the Qtum blockchain.

LRC’s price dipped 51.9% in January 2022, making it one of the top crypto losers for the period.