Ethereum
Ethereum-Based Crypto Tokens Crash – Analytics Firm Thinks Bold Buyers Can Land a Bargain Thanks to Benzinga
Benzinga – A platform-owned cryptocurrency token that suffered a $5 million exploit has fallen sharply, and one analytics firm believes this presents an opportunity for bold buyers to add it to their portfolios.
What Happened: Loopring (CRYPTO: LRC), the Ethereum (CRYPTO: ETH) a cryptocurrency token based on the zk-rollup-based platform was exploited, allowing the attacker to steal $5 million worth of cryptocurrencies from different wallets.
The exploit led to a 20% drop in the price of LRC, according to on-chain analytics firm Santiment.
The price decline was fueled by the scale of FUD in the market, with most traders abandoning their LRC holdings expecting further losses. The 9% rise in trading volumes over the past 24 hours added weight to the net sell narrative.
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