Binance, the world’s top cryptocurrency exchange, is broadening its range of trading options by introducing a new altcoin built on the Ethereum (ETH) layer-2 network.
The exchange recently announced that Scroll (SCR) is now available for spot trading, with trading pairs including SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY.
Binance customers can purchase Scroll using various payment methods such as VISA, MasterCard, Google Pay, Apple Pay, or by using their wallet balances.
According to Binance, Scroll aims to address the issue of network congestion and high fees on the Ethereum network. It is a Layer-2 zkRollup solution that utilizes zero knowledge proof technology to scale Ethereum, making it faster and more cost-effective while maintaining security and compatibility.
The total supply of Scroll tokens is 1 billion, with an initial circulating supply of 190 million, accounting for 19% of the total token supply.
Binance has assigned a seed tag to SCR, which is used for lower-liquidity projects that may have higher volatility compared to other listed tokens.
Users who own assets with seed tags are required to pass quizzes every 90 days to ensure they are aware of the risks associated with trading these tokens.
The project’s first token airdrop began on Tuesday, allowing participants to claim their rewards.
“This initial airdrop sets the stage for our goal of becoming the most globally distributed rollup, rewarding those who have contributed to the growth of Scroll’s protocol, ecosystem, and community. A total of 7% of the total supply of SCR has been allocated for our first airdrop.”
At the time of writing, Scroll is trading at $0.9178, experiencing a 21.3% decrease in the past 24 hours. With a current market cap of $174.6 million, Scroll ranks as the 301st largest cryptocurrency project.
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Disclaimer: The opinions expressed in this article are not investment advice. Investors are advised to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please be aware that your transfers and trades are conducted at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
