SCR Token Drop of 32%: Opportunity or Trap? Understand What's Happening with Scroll"
The launch of the Scroll network's SCR token, aimed at scaling Ethereum, generated great anticipation, but its initial performance was below expectations. In 24 hours, the token fell 32%, from US$ 1.40 to US$ 0.94, and its market capitalization was reduced to less than US$ 180 million.
This drop was mainly caused by the poor distribution of tokens in the airdrop, which favored large investors, known as “whales”. The lack of a limit on the number of tokens allowed these whales to accumulate a significant portion of the supply, with the 10 largest wallets receiving 11.7% of the tokens, while the 100 largest received 34.4%. This generated significant selling pressure, causing the price to plummet shortly after the launch.
Another factor was the 24% drop in the total value locked (TVL) on the Scroll network last week, which reached US$ 1 billion. This drop in TVL indicates a loss of investor confidence in the project. Furthermore, the practice of “point farming” – where users are rewarded with tokens for using the platform before the official launch – has contributed to the volatility, as many investors sell their tokens shortly after receiving them in the airdrop, seeking new opportunities.
Scroll now faces the challenge of regaining investor confidence and stabilizing the price of SCR, especially with the selling pressure from whales. The team needs to convince these large holders to hold their positions and attract new investors, showing that the project has long-term potential.
