Scroll's new SCR token launched on October 22, 2024, with an initial trading price of $1.40, quickly dropping to about $1.10. This led to a market cap of $212 million, with a fully diluted valuation of $1.1 billion based on a circulating supply of 190 million tokens. Despite strong trading activity—with over 200,000 holders and a trading volume of $189 million on its first day—negative sentiment surrounded the token's release. Users expressed dissatisfaction over the token allocation process, particularly regarding a 5.5% allocation to Binance for its Launchpool users. An airdrop of 7% of the SCR supply was distributed to early Scroll network users, but skepticism persisted due to the revelation that the development team had been accruing marks that could entitle them to additional airdropped tokens. However, Scroll co-founder Sandy Peng stated that none of the team members would claim this benefit, aiming to address user concerns. The overall trading volume indicated robust market interest, despite the initial volatility in price.

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