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The Scallop is a young crypto platform powered by blockchain to provide the first regulated Decentralised Finance (DeFi) banking application for retail and institutional users. Scallop enables DeFi services together with everyday use as a fiat banking account and unique rewards. Scallop aims to provide access to DeFi functionality and minimise its complexity.
Scallop token (SCLP), the native utility token of the Scallop platform, is a BEP20 and ERC20 token to empower the Scallop ecosystem. SCLP is based on the Binance Smart Chain (BSC) Network because of its wide scope of DeFi functionality. Scallop token has the following use-cases:
Staking Scallop is an easy process including four steps as follows:
To learn the details, you can check here.
Today, on Jun 19 2022, the Scallop price is $0.203086 with a 24-hour trading volume of $237,331. In the previous 24 hours, the SCLP price has been up 5.7%. Its circulating supply is 33 Million SCLP coins, and its total supply is 100 Million. Currently, SCLP stands on the market cap rank of #920, with a current price that is 99% lower than its all-time high of $20.10 on Oct 28, 2021, but 26.4% higher than its all-time low of $0.160571 on May 12, 2022. Currently, MEXC Global is one of the active exchanges to trade SCLP.
Financial charts at Cryptologi.st indicate that regarding Return on Investment (ROI), Scallop underperformed similar projects, which had 16224% growth over the past year. Also, Scallop underperformed in the crypto market, which experienced 4173% growth over the recent year. Simply put, Scallop hasn’t been a profitable project over the last year. Also, Scallop shows a liquidity score of 23%, meaning it can be a hard sell when the market is falling.
According to Scallop Whitepaper, the platform’s reward system benefits the SCLP token holders as follows:
Holding the Scallop token, the holders will benefit from the exclusive Scallop app and business features depicted in the following image.
Being the world’s first regulated blockchain built on Cosmos framework on the Tendermint system, Scallop Chain includes the following:
The Scallop chain uses the Tendermint Proof-of-Stake (PoS) as its consensus mechanism. As you know, the blockchain uses validator nodes to validate transactions and secure the chain. In the Scallop chain, all validators need to stake SCLP tokens and should also get voted in by the SCLP tokens. The Scallop chain is designed to support over one thousand validator nodes.
The Scallop chain is a regulated chain, where every app/ user within the platform is KYC’d to a centralised entity (in most cases, the regulator). The non-KYC’d users or non-KYB’d apps will face restrictions, and their transactions will be rejected by the validators.
Users on the Scallop chain must share their data with the regulator and are then marked with a pseudo-anonymous address as a “verified address”. This helps the users keep their privacy from other wallets in the chain and obey the rules that a regulator would like to enforce.
The following are among the unique features that Scallop exchange provides. To read the details, check here.
Scallop uses Raj Bagadi as the Founder and CEO, who has been working on Scallop for over two years and had directing and developing experience before this project. Mindy Bejawn is the Co-Founder and COO of Scallop, who has worked as the Principal Engineer in many companies before this. Soren Stammers, the CTO at Scallop, has had roles in directing, CTOing, and consulting in various companies, including FinTech. Apart from the original team, Scallop was incubated by Mahadao and supported by some blockchain institutions, including Kucoin Labs and Bitcoin.com exchange.
Disclaimer: Don’t take this article as financial advice. You need to DYOR (Do Your Own Research) before investment.
As the name suggests, what we are to offer next are only price ‘predictions’ from Priceprediction.net. These can’t be considered GO signals, but they are some hints to open your eyes to the crypto experts’ opinions on the future price changes of the Scallop token. Don’t forget to DYOR (do your own research) before investing in anything, especially cryptocurrencies.
The average price of each Scallop token is predicted to revolve around $0.35 in 2022. Its minimum and maximum predicted prices can reach $0.33 and $0.39, respectively.
The average trading price of SCLP tokens is expected to be $0.50 throughout 2023. The lowest possible price of Scallop is predicted to reach $0.48, and on the bright side, it may hit $0.57.
Crypto experts predict that in 2024, the minimum price of Scallop can reach $0.69, and its maximum can amount to $0.83, with an average trading price of $0.71.
On average, the trading price of SCLP is predicted to be $1.07 throughout 2025. The minimum and maximum price of each Scallop token can reach $1.04 and $1.19, respectively.
The following image shows the Scallop roadmap.
It is no secret that we are in the bear market, and most projects are just striving to survive and make it to another bull run. In this situation, we cannot expect surmounting prices and activities, but we can compare the projects based on how they are handling the status quo and how badly they are going down! Scallop has high hopes and big aims, but its recent year performance hasn’t been promising enough. Its current liquidity score makes it a risky project, at least for the short term.
All in all, you can’t take this article as financial advice or trade signal because it is only made for educational purposes alongside the reviews of the top 1500 projects. What are we doing here? Well, Cryptologi.st is here to educate you about the current events of the crypto market through the hot news and educational articles it provides. Also, it streamlines the coin screening process by offering its free screener tool, where you can compare hundreds of coins and put your favourites on the watchlist to keep an eye on their changes. Stay tuned for more updates on the burning hot crypto projects, and check out what we offer on our social media listed below!