[Scroll’s SCR token debuts during volatile trading session with market cap of $212 million]
Scroll’s native governance token, SCR, was recently launched at an initial price of $1.40, but has since dropped to about $1.10. SCR has a market cap of approximately $212 million, giving it a fully diluted valuation of $1.1 billion. The token will gradually become the utility token of the protocol in the future as the Scroll network becomes further decentralized.
Scroll faced several challenges ahead of the token’s launch, including user complaints about uneven token distribution and the decision to allocate 5.5% of the supply to the Binance Launchpool. Early adopters received an airdrop of 7% of the supply, but the SCR price briefly fell from $1.40 to $1.12 due to negative sentiment.
Additionally, Scroll clarified that team members and co-founders will not participate in the airdrop. On-chain data shows that SCR has accumulated 200,000 holders on the first day of release, with 500,000 token transfers and a trading volume of US$189 million.
