Theory: I believe Loopring is being heavily shorted.
My personal belief is that shorts are driving down the price of Loopring because of its association with GME. The tech is incredible and the sky is the limit yet it keeps dipping harshly. Yes, I realize the crypto market tends to follow bitcoin but the dips have been a bit much. I believe the shorts know that if LRC climbs, that’s more funds for people potentially invested in both LRC and GME, who could potentially sell some LRC for more GME. Also, I think the optics of LRC booming help GME also and they want it to appear as though GME and LRC are hurting badly and that the NFT Marketplace will be “dead on arrival.” I am extremely bullish on both LRC and GME and think the slingshot just keeps getting pulled back further and further. Again, this is my own personal take. Thoughts?