- Binance, Bybit, & Coinbase Make Key Announcements on Scroll (SCR) Listings, Stirring Market Reactions
Scroll (SCR) Awaits Market Impact as Binance and Bybit Announce Key Updates - Highlights:
– Binance and Bybit shared critical updates on Scroll (SCR) listings.
– Binance postponed its SCR listing but expanded trade offerings, while Bybit proceeded with a spot listing.
– Coinbase also announced plans to introduce perpetual trading for the zero-knowledge rollup token.
– Despite these announcements, SCR’s price dropped significantly, leading to varied market speculation.
The zero-knowledge rollup token, Scroll (SCR), has gained global attention following recent announcements from major cryptocurrency exchanges. On Tuesday, Binance and Bybit disclosed expanded trading options for SCR, sparking further speculation about the token’s price movement. While Binance delayed its listing, Bybit went ahead with it, prompting mixed reactions among market participants.
Binance Delays Scroll Listing; Bybit Moves Forward:
In an official statement on October 22, Binance announced it would delay the listing of Scroll until 09:00 UTC on the same day, without providing a reason for the change. Initially, the listing was planned for 08:00 UTC, reflecting a strategic adjustment that has led to speculation within the market.
CoinGape Media reported that Binance plans to introduce new spot trading pairs, including SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY, once the listing goes live. Additionally, Binance announced that SCR would be added to various services, including ‘simple earn,’ ‘buy crypto,’ ‘convert,’ ‘margin,’ ‘auto-invest,’ and futures platforms. Subscription for simple earn and flexible products for SCR began today at 09:00 UTC.
From October 23 at 10:00 UTC, users can purchase SCR through various payment methods, including VISA, MasterCard, Google Pay, and Apple Pay. The exchange will also list SCR as a borrowable asset on Cross and Isolated Margin. Furthermore, Binance is set to launch a USD-Margined perpetual contract for SCR today at 10:00 UTC, offering up to 75x leverage.
Meanwhile, Bybit made an important announcement regarding its listing of SCR, stating that the token would be available from 08:00 UTC on October 22, with withdrawals beginning on October 23 at 10:00 UTC.
Coinbase also joined the fray, revealing on X that it would start supporting perpetual futures for SCR from October 22 after 12:30 pm UTC. These developments from leading exchanges have led to varied market sentiments regarding Scroll’s short-term outlook.
Price Decline Despite Increased Trading Activity:
Despite the recent announcements, SCR’s price dipped to $1.24, down nearly 10% over the past 24 hours. The token recorded an intraday low of $1.20 and a high of $1.40. This downturn contrasts with the optimistic sentiment spurred by the listing news, aligning with broader market trends.
However, SCR’s intraday trading volume surged by 2504% to $100.98 million, indicating that traders reacted positively to the expanded offerings. Yet, the sharp price drop has raised concerns despite the increased listings. Crypto market enthusiasts are closely monitoring SCR for any upcoming shifts in its price trajectory.
