Overview of Scallop (SCA)
Scallop (SCA) operates as a next-generation peer-to-peer money market within the Sui blockchain ecosystem. It stands out as the first decentralized finance (DeFi) protocol to receive an official grant from the Sui Foundation. The platform emphasizes institutional-grade quality, enhanced composability, and robust security, offering services such as high-interest lending, low-fee borrowing, automated market making (AMM), and digital asset self-administration tools. Additionally, Scallop provides an SDK for professional traders, aiming to create a unified and efficient financial environment.
Current SCA Price and Market Data
As of the latest data, Scallop's price is $0.147, reflecting a significant increase of +62.9% over the past 24 hours. The token's all-time high (ATH) of $1.48 was recorded on March 9, 2024, which represents a decrease of -90.1% from the current price.
Key market statistics for Scallop include:
- Circulating Supply: 127.49 million SCA (51% of max supply)
- Max Supply: 250.00 million SCA
- 24-Hour Trading Volume: $32.37 million
- Market Capitalization: $18.74 million
- Market Share: 0.00% of the total cryptocurrency market
Scallop's price range within the last day has fluctuated between $0.0895 and $0.151, indicating notable volatility and trading activity.
Token Supply Details
Scallop has a fixed maximum supply of 250 million SCA tokens. The circulating supply currently stands at 127.49 million tokens, with an additional 3.94 million tokens (1.58% of max supply) categorized under other allocations. This structured supply model aims to support long-term ecosystem growth and stability.
How Scallop's Money Market Works
Scallop functions as a decentralized money market that facilitates peer-to-peer lending and borrowing on the Sui blockchain. Users can lend their digital assets to earn high-interest yields or borrow assets at low fees. The platform integrates AMM capabilities to enhance liquidity and trading efficiency. Its composability allows seamless interaction with other DeFi protocols, while the SDK enables advanced traders to develop customized strategies and tools.
The protocol's focus on security and institutional-grade infrastructure ensures a reliable environment for users to manage their digital assets. By combining multiple financial services into a unified platform, Scallop aims to simplify DeFi participation and promote broader adoption.
Factors Influencing SCA Price
Several factors can impact the price of Scallop (SCA), including:
- Market Sentiment: Overall trends in the cryptocurrency market often influence altcoin prices, including SCA.
- Platform Adoption: Increased usage of Scallop's money market services can drive demand for SCA tokens.
- Ecosystem Developments: Updates, partnerships, or new features within the Sui blockchain or Scallop protocol may affect investor perception.
- Supply Dynamics: Changes in circulating supply or token release schedules can impact price stability.
- Regulatory Environment: Shifts in regulatory policies toward DeFi or blockchain technologies may create volatility.
Monitoring these factors can help investors make informed decisions regarding SCA.
Using Scallop's Converter and Charts
Scallop provides real-time price conversion tools and charts to help users track SCA values against various fiat currencies and cryptocurrencies. These tools aggregate data from leading global exchanges to ensure accuracy and reliability. Users can convert SCA to US Dollars, BTC, ETH, and other assets, as well as analyze historical trends and price ranges.
👉 Explore real-time conversion tools
These resources are valuable for traders, lenders, borrowers, and other participants seeking to engage with the Scallop ecosystem effectively.
Frequently Asked Questions
What is Scallop (SCA)?
Scallop is a decentralized peer-to-peer money market operating on the Sui blockchain. It offers lending, borrowing, AMM, and asset management services, emphasizing security and composability.
How can I buy Scallop tokens?
SCA tokens are available on various cryptocurrency exchanges. Users can purchase them using other cryptocurrencies or fiat currencies, depending on the exchange's supported pairs.
What is the maximum supply of SCA?
The maximum supply of Scallop tokens is capped at 250 million SCA, with approximately 127.49 million currently in circulation.
Why did Scallop receive a grant from the Sui Foundation?
Scallop was awarded a grant for being the first DeFi protocol on Sui to demonstrate innovation, security, and potential for ecosystem growth, aligning with the foundation's goals.
How does Scallop ensure security?
The protocol employs institutional-grade security measures, including smart contract audits, composability checks, and robust infrastructure design to protect user assets and data.
Can I use Scallop for professional trading?
Yes, Scallop offers an SDK for professional traders to build customized tools and strategies, enhancing flexibility and advanced participation in the money market.