Crypto Exchange Binance Adds Newly Launched Ethereum (ETH) Layer-2 Altcoin to Trading Roster

Binance, the world’s leading cryptocurrency exchange, is expanding its trading offerings to include a new Ethereum (ETH) layer-2 altcoin.

According to the exchange, Scroll (SCR) is now available for spot trading using the pairs of SCR/BTC, SCR/USDT, SCR/FDUSD and SCR/TRY.

Binance says its customers can purchase Scroll using VISA, MasterCard, Google Pay, Apple Pay or with their wallet balances.

According to Binance, Scroll is a project aiming to solve Ethereum network congestion and reduce its fees.

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

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

Binance is attaching a seed tag to SCR, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.

Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

The project’s first token airdrop was available to claim starting on Tuesday.

“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.”

Scroll is trading for $0.9178 at time of writing, down 21.3% in the last 24 hours. With a current market cap of $174.6 million, Scroll is the 301st largest crypto project.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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