Scroll's governance token, SCR, has experienced a significant decline of 32% just 24 hours after its launch. The total value locked on the network has also decreased by 24% in the past week. The top 10 recipients of the airdrop received 11.7% of the total drop, further contributing to investors' frustration about token supply. The token's poor performance may be attributed to token allocation and distribution issues, with a few whales acquiring the majority of available tokens. Without a maximum cap on the airdrop, the token's short-term future is uncertain. The team behind Scroll has not yet commented on the situation.
- Content Editor ( coindesk.com )
- 2024-10-23
Scroll's Token Declines 32% as Whales Scoop Up Airdrop