On October 8, 2024, Scroll (SCR), a zero-knowledge rollup designed for Ethereum, achieved a significant milestone by securing its spot as the 60th project on Binance Launchpool. This listing has generated considerable excitement within the crypto community, with many speculating on the potential for a price rally following the announcement.
According to Binance’s official announcement, pre-market trading for SCR will commence on October 11, 2024, at 10:00 UTC. Users will have the opportunity to stake BNB and FDUSD to earn SCR tokens over a two-day period. The maximum token supply for Scroll is set at 1 billion coins, with 55 million SCR allocated for rewards during the launchpool phase—representing 5.5% of the total supply. The initial circulating supply at launch will be 190 million SCR, accounting for 19% of the total.
The enthusiasm surrounding Scroll’s listing is bolstered by previous successful listings on Binance, such as those of DOGS (DOGS), Catizen (CATI), and Hamster Kombat (HMSTR), which saw price increases of 490% and 343%, respectively for CATI and HMSTR, after their launches. This historical context has led many analysts to predict a positive impact on SCR’s price action.
Initial estimates suggest that SCR could debut with a market cap of around $400 million, translating to an approximate launch price of $2.10 per SCR. However, due to expected early sell pressure from launchpool participants, analysts anticipate a potential dip in price post-listing, possibly bringing the market cap down to around $300 million and reducing the price to approximately $1.58 per SCR.
Scroll’s entry into Binance comes at a time when Layer-2 solutions are gaining traction in the Ethereum ecosystem. With increasing adoption and a growing demand for scalability, Scroll aims to position itself as a key player in this competitive landscape alongside established networks like Starknet and Polygon.
