After Binance announced the listing of Scroll (SCR) on its Launchpool platform, a major cryptocurrency whale made a notable move. According to data tracked by Scopescan, on October 10, the whale borrowed 26,300 BNB (worth approximately $15 million) from the decentralized finance protocol Venus and then deposited the funds into Binance. This high-stakes borrowing has sparked speculation and drawn significant attention within the crypto community.
Investor Leverages High Interest Rates
This large borrowing was likely influenced by attractive interest rates available on the Venus protocol. Currently, the annual supply interest rate for FDUSD on Venus stands at an impressive 63%, while the rate for BNB is 32%. These favorable rates encourage users to deposit more assets into the protocol and simultaneously increase borrowing activity.
Growing Interest in Binance Launchpool
Binance’s Launchpool, which supports new crypto projects, has gained significant popularity among investors. The recent listing of Scroll (SCR) has further heightened this interest. Large investors, often referred to as crypto whales, are known for taking such bold moves in hopes of reaping substantial gains from newly listed cryptocurrencies.
Some market observers view these large investments as a vote of confidence in the future of SCR. The combination of high interest rates on Venus and the activity on Binance’s Launchpool platform continues to drive notable developments in the crypto market. Investors are now keenly watching the price trajectory of Scroll following its Binance listing.
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Binance, Scroll (SCR), Venus protocol, crypto whale, high interest rates,
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