Major South Korean cryptocurrency exchanges Upbit and Bithumb have recently achieved notable success in their testing of the Scroll (SCR) mainnet. This development has sparked significant interest among investors within the region, as both platforms prepare for the potential listing of SCR coin, which may create lucrative arbitrage opportunities for local traders.
What Does the Testing Involve?
Recent on-chain data reveals that Upbit finished its Scroll mainnet tests two weeks ago, while Bithumb had initiated similar tests as far back as last year, conducting a follow-up test two months prior. The successful outcomes of these assessments signify a crucial advancement in integrating the Scroll network with these exchanges.
What Lies Ahead for Investors?
With the tests behind them, South Korean investors are likely to turn their attention to over-the-counter (OTC) transactions. The anticipated listing of SCR coin is expected to mirror the arbitrage opportunities seen in previous projects like AVAIL, as traders look to capitalize on short-term profits post-launch.
- Both exchanges’ successful tests indicate readiness for SCR coin’s market entry.
- Potential for substantial arbitrage opportunities as seen with other projects.
- Binance announces SCR as its 60th Launchpool project, set to begin on October 9, 2024.
- 5.5% of the total SCR supply will go to Binance Launchpool participants.
As developments unfold, the activity surrounding SCR coin is likely to intensify, particularly with significant market players like Binance entering the fray. Investors are poised for a potentially profitable trading environment in the wake of these advancements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
