Binance’s decision to end pre-market trading and introduce new pairs for Scroll (SCR) comes after the token’s 200% rally.
Leading crypto exchange platform Binance has created a surge of enthusiasm around the Ethereum Layer-2 token Scroll (SCR). On Friday, Binance announced plans to end pre-market listing for Scroll while introducing new trading pairs for SCR. This move comes as SCR has already seen a staggering 200% price increase since its pre-market launch last month.
In an official statement dated October 18, Binance confirmed that pre-market trading for Scroll would cease on October 21. Following this, the exchange will open spot trading for four pairs: SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY. Deposits for SCR are already open, and withdrawals are set to begin on October 23.
The exchange added that its “transfer function” would be available before the pre-market trading ends, signaling more fluidity in SCR transactions. Binance also set the listing fee for SCR at zero, highlighting its commitment to supporting the zero-knowledge rollup crypto project. Importantly, Binance will apply a “seed” tag to Scroll, indicating that the asset comes with heightened risk and volatility for investors.
Scroll’s zk-Rollup Tech
Scroll is an Ethereum Layer 2 solution leveraging zero-knowledge (zk) rollup technology, designed to scale the Ethereum blockchain while reducing transaction costs. Scroll processes transactions off-chain and later returns them to the Ethereum mainnet, making it a key player in Ethereum’s scalability initiatives. Launched in 2021, the project has since grown to attract significant attention from major industry players.
Backed by notable investors like Sequoia China and Moore Capital Management, Scroll raised over $50 million in funding during 2023. The project aims to scale Ethereum to a billion users, and Binance’s support through its trading offerings is likely to accelerate this vision.
In addition to the new trading options, this week, the Scroll team called on its community to engage in governance decisions through the Scroll DAO. This open call to researchers, developers, and users aims to make the ecosystem more decentralized, giving stakeholders more influence over the future development of the protocol.
Is More Price Growth for SCR on the Horizon?
Despite a recent 10% decline over the past 24 hours, bringing the price down to $1.25, market analysts are optimistic that SCR could see further upward momentum. The token has risen 200% in the past eight days.
While the token is currently trading between an intraday low of $1.22 and a high of $1.37, the expanded trading options on Binance suggest that SCR might experience more major gains in the coming weeks.
As the market adjusts to these new offerings, investors will be watching closely to see how SCR performs, particularly in light of Binance’s track record with newly listed assets. The exchange has also recently expanded offerings for other tokens like SUI SUI $2.40 24h volatility: 5.6% Market cap: $7.80 B Vol. 24h: $1.11 B and TURBO TURBO $0.00195 24h volatility: 0.2% Market cap: $134.60 M Vol. 24h: $16.09 M .
next