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Why did the price of LCS cryptocurrency plummet (LCP coin price trends)?

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Why did the price of LCS cryptocurrency plummet? As reported by Chain News, the

Why did the price of LCS cryptocurrency plummet (LCP coin price trends)?

Why did the price of LCS cryptocurrency plummet? As reported by Chain News, the community token of LUNA (LUNC) and the Shark Legend, League of Legends (LCS), suddenly crashed on January 18. The reason for this was that players started selling their in-game NFTs for profit.

According to CoinMarketCap data, among the top ten esports platforms, six had already sold a round of losses before going online for three weeks. The most concerning among them was the forked project of the Luna Guild, CryptoGamingClub (Crypto Star City). Now the entire ecosystem has fallen into a paralyzed state, indicating that there are some issues in the blockchain industry.

1. Lack of transparency from the team: There is not enough data to support the development.2. High transaction fees: Unable to conduct large-scale marketing campaigns.3. “Black horse” attacks: Heavy losses for users due to reliance on centralized exchanges.4. Team unable to bear operating costs: The team itself is not responsible for this work.5. Lack of expertise among core team members: The team needs time to learn how to build their own product.

LCP coin price trends

According to Huobi Global Exchange, the current price of LCP coin is 100.29 yuan.

As introduced, LCP coin is a decentralized trading application platform developed based on blockchain technology. The platform aims to provide an open, fair, and secure network environment, allowing users to freely exchange digital assets and have their own payment channels and network ecosystem. Currently, the platform’s token LDT is listed on multiple exchanges such as Bitfinex, Huobi Global, and Poloniex, and its value continues to rise. As of 18:35 today, its market value has reached 3.58 billion yuan.

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