As a seasoned researcher with years of experience in the crypto space, I’ve seen my fair share of market fluctuations and new projects promising to revolutionize the industry. However, the recent surge of interest around Scroll (SCR) on Binance has piqued my curiosity.
Binance, a prominent crypto exchange, has ignited excitement about the Ethereum Layer-2 token Scroll (SCR). Recently, Binance revealed that they will stop the pre-listing phase for Scroll and introduce fresh trading pairs for SCR instead. This decision follows a significant 200% price hike in SCR since its pre-market debut last month.
On October 18th, Binance officially announced that trading for Scroll would no longer be available prior to the market opening, effective October 21st. Subsequently, starting from the same date, they will commence spot trading for four pairs: SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY. Deposits for Scroll have been enabled already, while withdrawals are scheduled to start on October 23rd.
The statement indicates that the exchange will make its “transfer function” accessible before the end of pre-market trading, implying smoother SCR transactions. Furthermore, Binance has announced a zero listing fee for SCR, demonstrating their support for the zero-knowledge rollup cryptocurrency project. It is also noteworthy that Binance will label Scroll with a “seed” tag, suggesting that this asset carries increased risk and volatility for investors.
Scroll’s zk-Rollup Tech
Scroll is a scalability solution for Ethereum that uses zero-knowledge rollup technology. In essence, this means it processes transactions outside of the main blockchain and then submits them back later, thus reducing transaction costs and helping to scale Ethereum. This off-chain processing makes Scroll an important part of Ethereum’s efforts to improve scalability. Launched in 2021, it has since garnered notice from leading figures in the industry.
With the backing of significant investors such as Sequoia China and Moore Capital Management, Scroll successfully secured more than $50 million in funding during 2023. The objective behind this project is to expand Ethereum’s reach to a billion users, an ambition that may be expedited by Binance’s support through its trading services.
Apart from introducing new trading possibilities this week, the Scroll team invited their community to participate in making governance decisions using the Scroll DAO (Decentralized Autonomous Organization). This open invitation extends to researchers, developers, and users, with the ultimate goal of fostering a more decentralized ecosystem. By doing so, stakeholders will have increased control over the future direction of the protocol’s development.
Is More Price Growth for SCR on the Horizon?
Although SCR experienced a 10% drop within the last 24 hours, causing its price to fall to $1.25, financial experts remain positive and anticipate additional growth for the token. In fact, over the past eight days, SCR has skyrocketed by an impressive 200%.
Right now, the token’s price fluctuates between its lowest point today at $1.22 and a highest point at $1.37. The additional trading opportunities available on Binance hint that SCR could potentially see significant growth in the near future.
As the market adapts to these fresh additions, investors will keenly observe SCR’s performance, given Binance’s history with newly introduced assets. Notably, the platform has also recently broadened its selection of tokens such as SUI and TURBO. Here are some key details about these tokens:
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2024-10-20 16:32