Binance Announces Another Altcoin Listing for Spot Trading

Binance, the top cryptocurrency exchange, has introduced a new trading option featuring an Ethereum layer-2 altcoin.

The newly listed altcoin, Scroll (SCR), is now available for spot trading in several pairs, including SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY. Users can easily purchase Scroll using various payment methods such as Visa, MasterCard, Google Pay, Apple Pay, or directly from their wallet balances.

Scroll aims to alleviate congestion on the Ethereum network while also lowering transaction fees. It employs a layer-2 zkRollup solution, utilizing zero-knowledge proof technology to enhance Ethereum’s scalability without compromising its security or compatibility.

With a total supply of 1 billion tokens, Scroll has an initial circulating supply of 190 million tokens, which represents 19% of the total. Notably, Binance has labeled SCR with a “seed” tag, a designation for projects with lower liquidity that may experience higher volatility than more established tokens.

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To safeguard traders, Binance requires users holding assets with seed tags to complete quizzes every 90 days to ensure they understand the associated risks.

Additionally, the project recently launched its first token airdrop, which started on Tuesday. This initial distribution aims to establish Scroll as a widely distributed rollup, rewarding contributors to the protocol and its community. A total of 7% of the SCR supply has been allocated for this first airdrop.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.