Crypto asset Scroll (SCR) emerged as a top performer this week as it got the backing from crypto exchanges. On October 22, Bybit and Binance enhanced the trade offerings for the zero-knowledge roll-up crypto SCR which led to a price surge.
While the crypto exchange Binance is delaying listing Scroll, Bybit is going ahead with SCR listing which has got the crypto market confused. Binance didn't cite any reason for postponing the listing which was scheduled to happen yesterday at 08:00 UTC. This sparked price speculations as it indicated a change in the listing strategy of crypto exchanges.
The listing would make the following Scroll spot trading pairs SCR/TRY, SCR/BTC, SCR/FDUSD and SCR/USDT available to crypto traders in Binance. The crypto exchange also revealed that School might be added to ‘simple earn, buy crypto, convert, margin, auto-invest, & futures’ platforms.
From October 2023, crypto users can buy this digital asset using the payment methods listed in the “auto-invest” section of the platform. This makes the Scroll coin available for purchase using ApplePay, GooglePay, VISA, and MasterCard within an hour of the spot listing at 10:00 UTC on Wednesday.
The SCR will be added to a new borrowable asset on Cross and Isolated Margin. Binance had said it would launch a USD-Margined perpetual contract for Scroll at 10 UTC on Tuesday but at 9 UTC it informed of the postponement. The coin will have up to 75x leverage.
Meanwhile, Bybit, announced at 8:00 UTC on October 22 that they are listing Scroll and SCR withdrawals can happen from 10:00 UTC on Wednesday, October 23.
Furthermore, other crypto exchanges like Coinbase have revealed on X that will support perpetual futures for SCR from 12:30 pm UTC on Wednesday. This series of announcements by leading crypto exchanges rattled the market sentiments for Scroll.
Despite the mixed crypto market reactions SCR was trading at $1.24 on October 22 evening, down by 10% in the last 24 hours. The coin recorded $1.20 and $1.40 as its intraday low and high respectively. However, there was a 2504% surge in Scroll’s intraday volume which reached $100.98 million on October 22.
The severe dip in SCR pricing despite listing is worrying crypto traders who have decided to monitor the token to understand its price movements. As of October 23, 1:20 UTC, SCR is trading at $1.21, losing 12.31% in the last 24 hours with a market cap of $231.91 million. However, Scroll’s trading volume has surged 7578% in the last 24 hours as it stands at $292.8 billion. At present, the coin is displaying 78% bullish and 22% bearish sentiments.