The trading direction for the SCR token is likely to experience volatility in the short term due to several factors:
1. Launch Hype: Since SCR was just listed on Binance, there will be heightened trading activity driven by excitement around its launch and the airdrop scheduled for later in October. Initial hype could push prices upward in the short term, but caution is necessary as volatility is expected.
2. Token Unlocks: With 190 million SCR tokens (19% of the total supply) now circulating and more tokens scheduled to be unlocked over time, there could be selling pressure as new tokens enter the market. This could lead to downward price movements if demand doesn't keep up.
3. Staking and Governance: The utility of SCR for staking and governance within the Scroll ecosystem might drive long-term holding interest, which could stabilize prices. If Scroll's network continues to grow, this could encourage upward price action.
Short-term: Look for quick trades taking advantage of volatility after the listing and upcoming airdrop. Prices could spike initially, but corrections might follow.
Long-term: If the Scroll network's adoption grows, SCR's role in governance and staking could make it a strong long-term hold.
