The US Dollar started the week on stable footing, with the US Dollar Index trading near 101. This reflects a cautious market tone as investors prepare for a busy week of economic releases that could shape expectations for Federal Reserve policy.
The main event is Thursday’s June nonfarm payrolls report. The labor market data is likely to be closely watched for signs of whether the US economy is cooling or retaining enough momentum to keep monetary policy restrictive for longer. Markets are already pricing a high probability that the Fed will deliver at least one rate increase this year, but that outlook could shift quickly if the jobs report surprises in either direction.
Attention is also focused on the broader policy approach under Chair Kevin Warsh, who took over earlier this month. Recent remarks from the Fed suggest a more restrained communication style, with officials placing greater emphasis on incoming data and less on signaling future moves in advance. That shift has made each major economic release more important for traders trying to anticipate the central bank’s next steps.
Before the payrolls data, investors will receive updates on May job openings and June activity in the manufacturing and services sectors. The JOLTS report and the ISM purchasing managers’ indexes could offer additional clues about labor demand and the pace of growth across the US economy. Together, these releases will help build a clearer picture of whether inflationary pressure is likely to persist.
Beyond the US, geopolitical risks are also contributing to market caution. Investors are watching planned talks between the US and Iran in Qatar following recent attacks near the Strait of Hormuz. The waterway is one of the world’s most important energy routes, handling a significant share of global energy shipments. Any disruption there could quickly affect commodity prices and add another layer of volatility to currency markets this week.Loopring, Ethereum ’s first zero-knowledge rollup, said on Sunday that it is shutting down its decentralized exchange and automated market maker, with trading services ending immediately and the relayer halted at once. The decision marks the end of one of the earliest attempts to scale Ethereum through zk-rollup technology.
The team said the project never achieved meaningful adoption and was held back by structural limits in its original design. As an early zk-rollup, Loopring did not include a virtual machine, which restricted composability and limited its use in real-world payment applications. The project also said it lacked the business development capabilities needed to expand beyond its technical roots.
Loopring was once regarded as a major technical milestone. It raised $45 million in a 2017 initial coin offering and helped demonstrate that Ethereum scaling through zk-rollups was feasible. However, the ecosystem it helped inspire has since moved on. Newer systems such as zkSync, Scroll and StarkNet offer broader smart-contract compatibility and have taken the lead in development and adoption.
The team also said outside pressures accelerated the closure, including major exchange delistings of LRC in 2026. In its view, maintaining the service would no longer make sense given the rise of more advanced competitors and the obsolescence of its specialized architecture.
Loopring had already shut down its wallet services in July 2025, citing scaling challenges. With the DEX now closed, the team said it will calculate final user balances and distribute funds directly to Ethereum wallets in batches, while covering gas fees for those transfers.
The project’s decline has been sharp. Its total value locked now stands at about $8 million, according to L2Beat, down nearly 99% from a peak of $760 million in November 2021. LRC has fallen in parallel, slipping to about $0.01 from its all-time high of $3.75 in the same month.
One of Loopring’s highest-profile moments came in 2021, when it partnered with GameStop to support the company’s NFT platform, launched the following year. Its closure adds to a growing list of crypto projects that have disappeared in 2026 as the market remains under pressure and older narratives lose relevance.
