The price of Scroll (SCR), a security-focused Ethereum layer-2 scaling protocol, is dumping in the wake of its airdrop. According to CoinGecko, it was last down around 17% in 24 hours.
Scroll just launched an airdrop of 5.5% of its total SCR supply, amounting to 55 million of a total of 1 billion tokens.
At SCR’s latest price of around $0.9450, the new protocol has a market cap of around $94.5 million and a fully diluted value of around $945 million.
That’s impressive stuff for a just-launched coin, even if the price has dropped 17%.
Price drops in the wake of an airdrop are common, as airdrop recipients cash in on their holdings.
But Scroll may suffer from waning enthusiasm, with many airdrop recipients critical of the SCR allocation.
One user complained of only receiving $118.49 after farming on Scroll with 50 wallets for over a year.
Another X user said that, despite having their wallet in the top 2% in terms of activity, they only received 87 SCR.
One user accused the Scroll founders of having farmed 34% of the latest airdrop for themselves, labeling them “shady.”
The airdrop appears to have gone down like a a lead balloon in the community, which could be very bad for the protocol going forward – angering dedicated users is a great way to kill off a project’s support and demand for its token.
Scroll’s Aidrop Was a Dud, But This Meme Coin Is Gaining Traction
Scroll’s airdrop was a huge letdown, so crypto traders are already on the hunt for the next big opportunity.
PolitiFi meme coins are returning to focus as the US Presidential election nears.
Established coins like TREMP could experience big gains.
But traders looking for the next 100x PolitiFi meme coin will need to look for newer projects that are still going under the radar.
In recent days, one project called FreeDum Fighters (DUM) has been receiving a lot of hype in web3 trading circles.
FreeDum Fighters is a brand-new community-focused PolitiFi protocol that gamifies the contest between Republican candidate Donald Trump and Democrat candidate Kamala Harris.
The new meme coin bills itself as the “ultimate showdown” between two mechanized political figureheads – MAGATRON and Kamacop 9000.
And DUM is a great passive income opportunity.
Investors can choose from two staking pools, offering differing levels of rewards based on the popularity of the two figureheads. They can also engage in weekly debates to win DUM airdrops.
Per the official FreeDum Fighters staking dashboard, investors can currently earn a whopping 1,794% APY if they put their tokens in the Kamacop 9000 staking pool.
The MAGATRON pool is currently yielding about 420% APY, owing to its greater popularity.
At these APYs, investors drastically increase their initial DUM bag in just a few weeks.
In the video below, Wolf’s Crypto Den explains why DUM could be the perfect token to ride the election narrative.
40% of the token supply is available during the presale, with 20% reserved for the liquidity pool, 20% for the staking pool, 10% for debate rewards, and a further 20% for everything else.
DUM can be easily bought with ETH on the Ethereum or Base networks and with BNB, SOL, USDT, and USDC.
Buy DUM Here
The post Scroll Drops 17% After Airdrop, But All Eyes Are Now on This Meme Coin appeared first on Cryptonews.
