Scroll

Over the last 24 hours, the Scroll (SCR) token has lost almost 20% in value. The bearish mood is intensifying: more losses are ahead

The Ethereum layer-2 (layer-2) Scroll network has launched the $SCR
token. The long-awaited airdrop took place on October 22. However, many participants were dissatisfied with the amount of SCR received, which provoked a token sell-off.

The Scroll airdrop was the cause of the problems

The team's blog states that the airdrop distributed 5.5% of the total SCRs - 55 million out of 1 billion tokens - to early participants in the ecosystem. However, many users of the L2 network were disappointed with the amount of coins received and dissatisfied with the token distribution strategy. Many were angered that the project put Binance customers ahead of its loyal user base.

One user, Joshyy, described it as “the worst airdrop to date.” He “invested $60 in farming Scroll, only to receive $973 $SCR .” Another user stated that he dumped the tokens he received through Airdrop and withdrew all his assets from this blockchain network.

SCR owners are selling assets

Since the launch of SCR, there has been a surge in sales, which has led to the token value plummeting by double digits. The picture on the hourly chart predicts a possible further decline.

The bearish mood towards the altcoin is intensifying. This is evidenced by the negative value of the Bull Bear Power (BBP) indicator, which reached -0.10. It shows the balance of power between buyers and sellers in the market. The negative value of BBP indicates that the market is under the control of bears.
In addition, the price of SCR approached the lower boundary of the Bollinger Band (BB). This usually indicates a downtrend or selling pressure. Although the lower boundary usually serves as a support level, sustained trading in this area usually indicates bearish momentum.

SCR outlook: the coin is at risk of falling to new lows

SCR is now trading just above the $0.99 support level, an all-time low since launch. Further selling could push the price below this level as soon as possible.

However, if the market mood changes from bearish to bullish and the demand for SCR grows, the price will start growing towards the resistance at $1.55. Successfully overcoming this level will bring into play the next resistance at $1.72.
#ScrollOnBinance

What is FOMO?
FOMO stands for "Fear of Missing Out." In the cryptocurrency world, it refers to investors hastily purchasing assets due to the fear that a particular asset's price may rise. FOMO is especially prevalent during market uptrends and can lead investors to make emotional decisions.
1. BlackCardCoin
BlackCardCoin is the main token of the BlackCard project. Launched in 2024, BlackCard is a specialized Crypto Credit Card designed to seamlessly integrate cryptocurrency into everyday financial transactions. BlackCardCoin utilizes advanced blockchain technology to bridge digital assets with traditional banking applications. By allowing users to experience the advantages of digital currencies with the convenience and familiarity of a credit card, it sets a new standard in the finance sector by combining the best of both worlds.

The ecosystem surrounding BlackCardCoin is built on a foundation of accessibility and efficiency, enabling users to manage both digital and fiat currencies effortlessly. The platform not only offers a user-friendly experience but also prides itself on robust security measures, ensuring the protection of all transactions and personal data. With BlackCardCoin, users enter a world where digital assets are as simple and convenient as cash.
#WeAreAllSatoshi
2. Eigen Layer
Eigen Layer is a reuse protocol built on Ethereum. This system allows assets obtained through staking to be utilized by other applications or protocols. As a result, users can earn income on a particular asset while simultaneously leveraging it on different platforms.
#scroll

Scroll’s ZKScam 2.0? Founders and Team Wallets Under Scrutiny for Airdrop Marks
Hey CryptoPM Fam,
The crypto community is no stranger to controversies, and today we're diving into one surrounding the much-anticipated Scroll airdrop. There’s growing speculation that team wallets are accumulating marks in a way that could spell trouble for the community once the airdrop happens. Let’s break it down and follow the trail.
Is Scroll pulling off a ZKScam 2.0?
It’s been uncovered that key team members at Scroll may be distributing marks to their wallets. This is not just speculation—there's data to back it up, and I’ll provide evidence of these wallets holding anywhere from 10k to over 1 million marks. 📊
Let’s start by analyzing the founder’s wallet, haichen.eth or wallet
0xb2547d996a5c8fd0a72409e8d3bbfd2807224592
belonging to Scroll co-founder Shen Haichen.

According to Arkham, this wallet is a signer of the Gnosis Safe “Scroll: Fundraise.” While it didn’t farm marks, it provides us a lead on how the team might be managing funds.

look at Wallet1:

0x4721cf824b6750B58d781fD1336D92a082704C7A

This wallet was first funded from the founder's wallet, across multiple networks. Arkham also links it to the Scroll team (with a question mark), but with 43.5k marks, the connection seems clear.
Wallet2:

0x1e4c8489F9d876293C36b730107E89e0F2a0CB04

This wallet received funds from Wallet1 and holds a staggering 1 million+ marks. Two transactions caught my eye—an "Approve" and "Supply" of 500k USDC to AAVE back in February.
Wallet3:

0x4852FFA873c471Abd92696DB3041D298e2710c4E

Another team-related wallet funded from both the founder's and Wallet1. It holds 13k marks.
Wallet4:

0xbdA143d49da40C2cDA27c40edfBbe8A0D4AE0cBc

A smart contract wallet connected to scrup.eth, also linked to the team. There’s a transfer of around 100 ETH from Wallet1, and it’s holding 63.9k marks.
Wallet5:

0xDf61edCc0659565F1B4A11A20397be99006a3d85

This wallet, linked to Wallet4, was also sponsored by Wallet1. Another 35k marks here.
Wallet6:

0xc65C94019F4c5a386ecd6e984753742aBe228aFd

Yet another wallet linked by a transaction with Wallet1, holding 50k marks.
Now, moving on to another founder’s wallet: Peng.eth or
0x52F9a67Fd05AdCb0B5480Bf8FEb944aA588316ED,
linked to Sandy Peng.

Arkham confirms this wallet too, but no marks are found here.
But let’s talk about Wallet7:

0x7440e1407f95F33206Fb72464A63cd54B2eE6282 or carlboi.eth

This one’s holding 96.8k marks and is linked by multiple transactions with Sandy Peng’s wallet.
There are also smaller wallets, like:

0xdEF5610eC04DEc77D52E6F2caBff18635477aaCF with 4k marks
0x0a246FE10294E0E9cA1DD4AA1433fa64b0B42bAD with 4k marks
Both are tied to Wallet1.

Additionally, there’s a Dune dashboard showing the top 200 wallets collectively holding 40 million marks.

Some of the biggest holders include project wallets like L0, Orbiter, and Rhino.fi, which are critical for running their bridge contracts.

These wallets typically handle hundreds of thousands of transactions.
So, what’s the issue?
An airdrop hasn't happened yet, and we don’t know if project and team wallets will be eligible. But if marks are distributed linearly, including team wallets, this could lead to major FUD (Fear, Uncertainty, and Doubt) in the community.
@Scroll team, this is your moment to step up. Excluding project and team wallets from the airdrop would be the right move to ensure fairness and reduce the potential for community backlash.
What do you think, fam? Is Scroll on the path to ZKScam 2.0, or can they make things right? 🔍
Source: https://x.com/andrey_10gwei/status/1846986027715510389
Let me know your thoughts in the comments and don’t forget to share this article !
That's it for today folks,
Thanks for reading! If you found this helpful, please use the tip button. For more insightful crypto content, follow me @Crypto PM
Stay updated with the latest trends and analyses in the crypto world!

#scroll #ScrollEvolution #ScrollLayer2 #ScrollScamOrNot #Scroll_ZKP