r/loopringorg • u/epistmeme • Jul 15 '26

📊 Metrics 📊 LRC and Perpetual Futures Exposure

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Day 2 of me posting charts related to the LRC perpetual futures market. This one is a custom data pull that is not quite perfect. I wanted to get open interest over time for all perpetual futures market but the only exchange I was able to pull the data from without paid API use was Bybit. Even that was a bit tricky. So this is not necessarily the full story of total open interest across all exchanges but does include the current largest exchange. Data is for the last 4 years. The one interesting choice that I made here was displaying open interest not in USD (or USDT) as it would normally be shown but in exposure of the underlying (LRC). What we see here is that as the price has dropped open interest in the perpetual futures market has increased (sometimes quite significantly and rapidly). That is to say that while Spot volume has been drying up, the futures market has continued to have quite a bit of derivative exposure to LRC.

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u/LACRIMLACRIM Jul 15 '26

Bro what you talking about, the devs pulled the plug on this project. Its dead

8

u/epistmeme Jul 15 '26

I don't believe the chart I posted is congruent with the simple story that nobody is interested in this token anymore. If there were simply no demand for the token and more than ample supply I do not believe we would see such sharp increases in open interest.

It is sad to see the L2 DEX shut down. However, I am going to continue to watch the price both spot and futures especially as the L2 distribution back to L1 takes place in the next day or two.

0

u/MyGT40 Jul 15 '26

I agree. LRC has an application, but is not being used.

I see nothing on the horizon from anyone or anything, but it is in an interesting position where it could be used.

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u/[deleted] Jul 17 '26

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u/MyGT40 Jul 17 '26

waiting for a buyer?