Scroll's SCR Token Debuts at $212M Market Cap in Volatile Trading Session

Scroll users vented their frustration at SCR token allocation last week

Scroll initially began trading at $1.40 but has since dropped to around $1.10.

Scroll confirmed that all co-founders and team members would not be receiving an airdrop in response to criticism last week.

SCR has a market cap of $212 million and a fully diluted value of $1.1 billion.

Layer-2 network Scroll released its long-awaited native governance token on Tuesday, putting the project's initial valuation just over $200 million.

Traders priced SCR at around $1.10, or a $212 million market cap, based on the circulating supply figure of 190 million.

SCR will act as a native governance token with a roadmap to progress it towards being a protocol utility token as Scroll becomes more decentralized.