Binance Expands Trading with New Ethereum Layer-2 Altcoin SCR

Binance, the leading cryptocurrency exchange globally, is broadening its trading options to include a new layer-2 altcoin for Ethereum (ETH).

As stated by the exchange, Scroll (SCR) is now accessible for spot trading in the pairs SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY.

Binance informs users that they can acquire Scroll through VISA, MasterCard, Google Pay, Apple Pay, or by utilizing their wallet balances.

According to Binance, Scroll aims to alleviate congestion on the Ethereum network while lowering transaction costs.

“Scroll is a Layer-2 zkRollup solution leveraging zero-knowledge proof technology to scale Ethereum, making transactions cheaper and faster without sacrificing security and compatibility.”

The Scroll token has a total supply of 1 billion, with an initial circulating supply of 190 million, representing 19% of the total token supply.

Binance has assigned a seed tag to SCR, a designation the exchange gives to lower-liquidity projects that could be more volatile than other listed tokens.

Users holding assets with seed tags must take quizzes every 90 days to affirm their understanding of the risks prior to trading these tokens.

The project’s initial token airdrop became available to claim starting on Tuesday.

“This initial airdrop lays the groundwork for our ambition to become the most widely distributed rollup, rewarding those who have played a part in Scroll’s protocol, ecosystem, and community growth. A total of 7% of the overall supply of SCR has been allocated for our first airdrop.”

As of now, Scroll is trading at $0.9178, down 21.3% in the past 24 hours. With a market cap of $174.6 million, Scroll ranks as the 301st largest crypto project.

Don’t Miss a Beat – Subscribe to receive email alerts straight to your inbox

Check Price Action

Follow us on X, Facebook, and Telegram

Explore The Daily Hodl Mix