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SCR

Scroll Governance Token ($SCR) Debut at $212 Million Market CapScroll, a prominent Layer-2 scaling network for Ethereum, recently launched its highly anticipated native governance token, $SCR. The token debuted with a market capitalization of $212 million, pricing at around $1.40 before facing a downward trend to its current value of $1.10, reflecting the challenges faced in its initial release. With a fully diluted valuation (FDV) of $1.1 billion, Scroll is positioning TSX:SCR as a key component of its governance and utility framework as the network progresses towards full decentralization. However, the token's journey has been far from smooth, plagued by negative sentiment and user concerns over token allocation. Despite this, TSX:SCR 's long-term potential, coupled with its essential role in Scroll’s ecosystem, makes it an intriguing asset for traders and investors alike. Overview 1. Market Cap & Circulating Supply The TSX:SCR token launched with a market cap of $212 million and a circulating supply of 190 million tokens. While the token initially started trading at $1.40, it saw a swift correction to $1.10 within the first few hours. The correction, while expected in volatile market conditions, was partly driven by criticism over the token allocation process. 2. Airdrop Concerns & Team Transparency: A significant factor that influenced early price movements was Scroll's decision to give Binance 5.5% of the total token supply for its Launchpool users. This allocation raised concerns among early adopters who felt the token distribution lacked fairness. Moreover, Scroll’s users voiced frustration over rumors that team members were eligible for airdrops, but these claims were swiftly refuted by core contributors. Scroll ( TSX:SCR ) took a strong stance against these allegations, emphasizing that no co-founders or team members would receive any portion of the airdrop, aiming to restore trust among the community. Despite these efforts, the negative sentiment lingered as the token price experienced a notable decline of 20%, marking a rough start for $SCR. 3. Trading Volume & Liquidity Despite its price slump, TSX:SCR saw impressive trading volume, with $189 million traded across all pairs on its first day. The token also accumulated over 500,000 transfers and more than 200,000 holders in just 24 hours, signifying strong market interest. Liquidity remains solid, with over $400,000 positioned within 2% of the spot price on Binance, indicating healthy participation and relatively low slippage for traders. Technical Analysis: From a technical perspective, TSX:SCR is currently experiencing a dip, down 12% from its initial trading price. The Relative Strength Index (RSI) sits at 43, which places the token in a neutral territory. This suggests that while there’s some downward pressure, the selling momentum is not overwhelming, and the market could soon stabilize. One notable pattern in the chart is the appearance of a gap-down formation, which often signals a short-term selling climax. This gap, if not filled quickly, could reverse and provide strong buying opportunities, especially as TSX:SCR approaches key support zones. The recent price action has created the possibility of a bullish engulfing pattern, hinting at a potential trend reversal. The $1.10 to $1.36 range presents critical pivot points, and any surge beyond $1.36 could propel TSX:SCR toward retesting its previous highs, especially as the token gains more market traction. In addition, the overall volume profile indicates substantial trading interest, with bullish investors likely stepping in once the selling pressure subsides. Historically, tokens like TSX:SCR tend to see increased demand as they integrate more utility features, and with Scroll’s plans to evolve TSX:SCR into a protocol utility token, the long-term outlook remains optimistic. What Lies Ahead for Scroll and TSX:SCR ? The future of TSX:SCR hinges on several key factors: 1. Decentralization & Governance: As Scroll becomes more decentralized, the demand for TSX:SCR as a governance token will likely increase. Its utility in voting on key proposals, network upgrades, and other governance-related activities will add more value over time. 2. Institutional Adoption: As the Scroll network matures, its Layer-2 scalability could attract institutional interest, especially as Ethereum continues to deal with congestion and high transaction fees. This could lead to higher demand for TSX:SCR as institutions seek governance influence within the ecosystem. 3. Technical Strength & Support: The $1.10 support level will be critical in the short term, and if Scroll can maintain or reclaim the $1.36 pivot, it could signal a trend reversal and trigger a rally towards its all-time highs (ATH). The bullish engulfing pattern suggests that buyers may soon regain control, especially if the volume spikes in the coming sessions. 4. Addressing Community Concerns: Lastly, Scroll’s transparency and responsiveness to community concerns will play a vital role in fostering long-term trust. By effectively managing token distribution and ensuring fairness, Scroll can rebuild investor confidence, which will ultimately be reflected in the TSX:SCR price action. Conclusion Despite the initial volatility and concerns surrounding its launch, TSX:SCR ’s long-term potential remains intact. The Scroll network’s focus on decentralization and its role in Layer-2 Ethereum scaling solutions could see TSX:SCR emerge as a valuable governance and utility token. While the token faces short-term selling pressure, its fundamental strength, combined with the technical outlook, suggests that the worst may soon be over. A bullish reversal looks likely as TSX:SCR approaches key support levels, and with continued development, Scroll and its native token are well-positioned for future growth. Investors with a long-term horizon should watch for the $1.36 pivot as a potential entry point, while keeping an eye on market sentiment and upcoming developments within the Scroll ecosystem.
Long
by DEXWireNews
Score Gaming $scr #TheScoreScore gaming has finally came out of its correctional phase and is now on its recovery. Hearing that Canada will allow single wage sports betting will be the catalyst that sparks the next cycle to hopefully price discovery. There is no visual divergences on time frames except for the MACD. There is a possible falling wedge that could play out incredibly bullish. Gann and Fibonacci together may be a super power. Please forgive my chart as new methods are being tried. First initial price target is $30. Send it.
TSX:SCRLong
by CryptoTheory
$SCR.V theScore sports betting playShort: aug 22nd meeting will probably turn into a launch announcement NJ launch before NFL season PENN and John Levy price premiums at 59c CAD Mid-Term: united states 2018: $150B sports betting revenue vs. ~$15B cannabis revenue large insider holdings Long term: PENN deal gives future-proofing into the states as the legalize over the years Canada should legalize as a form of taxation, have made bullish statements regarding working with companies. overall very bullish, everyone is crying out for a recession not knowing sports betting will be the next boom cycle. will be looking into esports avenues depending on how esports sports betting goes as the another upside potential in companies like $EGLX.
SLong
by ssssssssssssssssssssss