SEI, the native token of the Sei blockchain, seems to be gaining huge traction a day after its debut on a number of main exchanges. On Tuesday, August 15, Binance, Bybit, Bitget, Kucoin, and Kucoin collectively listed the token on their buying and selling platforms.
On the identical day, Sei Labs, the corporate behind the community, introduced the launch of the beta mainnet section after a profitable alpha section. Based on the builders, greater than 7.5 million distinctive wallets and 400 million transactions have been registered throughout the testnet section.
The Sei Mainnet beta, Pacific-1, is right here.
Customers might now bridge and stake their $SEI at https://t.co/kllP3XP3dZ pic.twitter.com/dMdocFMba0
— Sei 🚢 (@SeiNetwork) August 15, 2023
Sei community is a layer 1 blockchain constructed on the Cosmos software program improvement package. It claims to supply a scaling answer for decentralized exchanges (DEXs) with its matching engine and order front-run prevention instruments.
SEI Breaks Into Prime 100 Crypto Rating – Value OverviewÂ
SEI skilled a surge in worth upon its itemizing on varied exchanges, notching greater than a 650% acquire inside an hour. On Binance, the token opened buying and selling at round $0.0639 earlier than ballooning to a excessive of $0.4812.Â
Nevertheless, SEI has since skilled a slight worth correction, buying and selling about 44% beneath the latest excessive. As of this writing, the token adjustments fingers at $0.2669, with a considerable 16% worth soar up to now hour.
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CoinGecko information reveals that SEI has been experiencing an enormous surge in market exercise, with its buying and selling quantity standing at $1,074,696,599. This represents a big 5,156.5% improve within the final 24 hours.
Likewise, the market cap of SEI has been on a gradual rise up to now day. With a market cap of roughly $445.4 million, the cryptocurrency sits on the 92nd place on CoinGecko’s crypto rating.
Curiously, merchants appear to have anticipated the present efficiency of SEI previous to its a number of trade listings. Information from DEX Aevo’s pre-listing futures revealed that the token may attain practically half a billion market cap upon debut on centralized exchanges.
The preliminary circulating provide of SEI is 1.8 billion – 18% of the entire provide of 10 billion tokens.
The “Cross-Chain” Airdrop
On Tuesday, August 15, the Sei Basis unveiled the main points of its upcoming “cross-chain” airdrop for whitelisted customers who bridge qualifying belongings into the community. A number of the eligible tokens embrace USDC, ETH, WBTC (Wrapped Bitcoin), and many others.
The muse revealed that lively customers on simply choose blockchains, together with Solana, Ethereum, Arbitrum, Polygon, Binance Good Chain, and Osmosis, can take part within the airdrop. Based on the announcement, the cross-chain airdrop shall be open for claiming on the public mainnet launch.
SEIUSDT buying and selling at $0.2450 on the 4-hour timeframe | Supply: SEIUSDT chart on TradingView
Featured picture from The Unbiased, chart from TradingView