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, announced 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 through the testnet section.
The Sei Mainnet beta, Pacific-1, is right here.
— Sei 🚢 (@SeiNetwork) August 15, 2023
Sei community is a layer 1 blockchain constructed on the Cosmos software program improvement equipment. It claims to supply a scaling answer for decentralized exchanges (DEXs) with its matching engine and order front-run prevention instruments.
SEI Breaks Into High 100 Crypto Rating – Worth Overview
SEI skilled a surge in value upon its itemizing on numerous exchanges, notching greater than a 650% achieve inside an hour. On Binance, the token opened buying and selling at round $0.0639 earlier than ballooning to a excessive of $0.4812.
Nevertheless, SEI has since skilled a slight value correction, buying and selling about 44% beneath the current excessive. As of this writing, the token modifications palms at $0.2669, with a considerable 16% value leap previously hour.
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CoinGecko data exhibits that SEI has been experiencing a large surge in market exercise, with its buying and selling quantity standing at $1,074,696,599. This represents a big 5,156.5% enhance within the final 24 hours.
Likewise, the market cap of SEI has been on a gentle rise previously day. With a market cap of roughly $445.4 million, the cryptocurrency sits on the 92nd place on CoinGecko’s crypto rating.
Apparently, merchants appear to have anticipated the present efficiency of SEI previous to its a number of change listings. Knowledge 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 overall provide of 10 billion tokens.
The “Cross-Chain” Airdrop
On Tuesday, August 15, the Sei Basis unveiled the small print of its upcoming “cross-chain” airdrop for whitelisted customers who bridge qualifying belongings into the community. A few of the eligible tokens embody USDC, ETH, WBTC (Wrapped Bitcoin), and so on.
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 might 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 Impartial, chart from TradingView