After a year of anticipation, the launch of Scrollās governance token, SCR, has encountered significant challenges due to issues with the distribution of the tokens, leading to a sharp decline in its value.
The layer-2 network, once touted as the āturtle that won the Ethereum scaling race,ā is now grappling with a 32% drop in the price of its token just one day after its launch.
Launched at $1.40, SCR is currently trading at $0.89, with its market cap falling below $180 million. This drastic drop has pushed the token out of the top 250 cryptocurrencies on CoinMarketCap, raising questions about Scrollās token launch strategy and long-term prospects.
The decline in SCRās value coincides with a 23% drop in the networkās Total Value Locked (TVL), which hit $1 billion earlier this month, according to DeFiLlama data. While underperforming token launches are not uncommon, Scrollās struggles appear to be linked to its token allocation decisions.
Binance Moonbix Super Thursday: UFOs, Mystery Boxes, and $DOGS Tokens
The highly anticipated Super Thursday UFO event on Moonbix, a new mini-game by Binance, is set to begin on October 24, 2024.
Participants in this exclusive event can unlock a range of exciting rewards, including a UFO Mystery Box containing 1,160 $DOGS tokens. The event will run for a full 24 hours, from 00:00 to 23:59 UTC, giving Moonbix explorers ample time to catch UFOs and earn valuable prizes.
UFO campaign Binance MoonBix Event Details
The UFO campaign on Moonbix is one of the most anticipated events in the Moonbix Binance Telegram Game. A total of 50,000 explorers have been pre- selected based on criteria announced on October 20, 2024, in a previous Moonbix Airdrop announcement. These lucky participants were chosen under the Award Selection Rules and will get a chance to play Moonbix during the event.