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Major South Korean cryptocurrency exchanges Upbit and Bithumb have recently completed successful tests of the Scroll (SCR) mainnet. This development has generated significant excitement within the South Korean cryptocurrency community. Reports suggest that both exchanges may list SCR coin in the near future, which could create substantial arbitrage opportunities among local cryptocurrency investors.
Testing Process of Upbit and Bithumb
According to on-chain data, Upbit completed the Scroll mainnet tests two weeks ago. Bithumb initially conducted these tests last year, with a follow-up test performed two months ago. The tests have reportedly yielded successful results, marking an important step in the technical integration of the Scroll network by these exchanges.
Both Upbit and Bithumb rank among South Korea’s largest cryptocurrency exchanges, and this development could lead to increased activity for SCR coin in the market.
Upcoming Arbitrage Opportunities
Following these tests, it is anticipated that South Korean investors may shift towards OTC transactions. Similar arbitrage opportunities observed in projects like AVAIL could manifest for SCR coin, especially with its upcoming listing. Investors are expected to seek quick profits once SCR coin becomes available.
Additionally, prominent cryptocurrency exchange Binance recently announced Scroll as its 60th Launchpool project. The farming process for SCR coin, requiring the locking of BNB and FDUSD, is set to commence on October 9, 2024, at 03:00. The pre-market trading for SCR coin will open on October 11, 2024.
It is also noteworthy that 5.5% of the total supply of 1 billion coins will be distributed among Binance Launchpool participants.
