Yesterday, Binance announced a new project called Scroll (SCR) on Launchpool, which has caught the attention of major investors, or whales. According to the announcement, four of these whales have made large purchases of BNB, totaling over $110 million.

Binance is a leading platform that offers BNB holders a great opportunity to make profits through Launchpad and Launchpool. With the announcement of Scroll as a new project on Launchpool, there were significant purchases of BNB, with whales spending around $112 million to use it on the platform.

According to data from Lookonchain, a platform specializing in tracking network movements, the purchases came in the form of loans from the Venus platform. Among these operations:

Account 0x1e7f: Buy $37.3M (65K BNB).

Account 0x5c18: Buy $29.9M (52K units).

Account 0xcd40: Buy $22.7M (39.5K units).

Account 0x2d87: Buy $22.4M (39K units).

Binance is known for offering airdrops of new project tokens before public listings to its users who freeze BNB and FDUSD on the Launchpool platform. Users who lock BNB are awarded much higher percentages of the tokens than those who farm FDUSD.

These huge yield opportunities on Launchpad and Launchpool are among the reasons why BNB price is soaring. At the time of writing, BNB was trading at $582, while it hit its highest value last June at $720.