SEI Token Breaks Into Top 100 One Day Post-Debut On Major Exchanges
August 16 2023 - 6:50AM
NEWSBTC
SEI, the native token of the Sei blockchain, appears to be gaining
massive traction a day after its debut on multiple major exchanges.
On Tuesday, August 15, Binance, Bybit, Bitget, Kucoin, and Kucoin
jointly listed the token on their trading platforms. On the same
day, Sei Labs, the company behind the network, announced the launch
of the beta mainnet phase after a successful alpha phase. According
to the developers, more than 7.5 million unique wallets and 400
million transactions were registered during the testnet phase. The
Sei Mainnet beta, Pacific-1, is here. Users may now bridge and
stake their $SEI at https://t.co/kllP3XP3dZ
pic.twitter.com/dMdocFMba0 — Sei 🚢 (@SeiNetwork) August 15, 2023
Sei network is a layer 1 blockchain built on the Cosmos software
development kit. It claims to offer a scaling solution for
decentralized exchanges (DEXs) with its matching engine and order
front-run prevention tools. SEI Breaks Into Top 100 Crypto Ranking
– Price Overview SEI experienced a surge in price upon its
listing on various exchanges, notching more than a 650% gain within
an hour. On Binance, the token opened trading at around $0.0639
before ballooning to a high of $0.4812. However, SEI has
since experienced a slight price correction, trading about 44%
beneath the recent high. As of this writing, the token changes
hands at $0.2669, with a substantial 16% price jump in the past
hour. Related Reading: Shiba Inu Bulls On The Horizon? Substantial
Selling Pressure Seen Dropping CoinGecko data shows that SEI has
been experiencing a massive surge in market activity, with its
trading volume standing at $1,074,696,599. This represents a
significant 5,156.5% increase in the last 24 hours. Likewise, the
market cap of SEI has been on a steady rise in the past day. With a
market cap of roughly $445.4 million, the cryptocurrency sits at
the 92nd position on CoinGecko’s crypto ranking. Interestingly,
traders seem to have anticipated the current performance of SEI
prior to its multiple exchange listings. Data from DEX Aevo’s
pre-listing futures revealed that the token could reach nearly half
a billion market cap upon debut on centralized exchanges. The
initial circulating supply of SEI is 1.8 billion – 18% of the total
supply of 10 billion tokens. The “Cross-Chain” Airdrop On Tuesday,
August 15, the Sei Foundation unveiled the details of its upcoming
“cross-chain” airdrop for whitelisted users who bridge qualifying
assets into the network. Some of the eligible tokens include USDC,
ETH, WBTC (Wrapped Bitcoin), etc. Related Reading: Ethereum Price
Prints Bearish Technical Pattern, Why It Could Extend Losses The
foundation revealed that active users on just select blockchains,
including Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain,
and Osmosis, can participate in the airdrop. According to the
announcement, the cross-chain airdrop will be open for claiming at
the public mainnet launch. SEIUSDT trading at $0.2450 on the 4-hour
timeframe | Source: SEIUSDT chart on TradingView Featured image
from The Independent, chart from TradingView
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024