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When Sei’s Layer-1 blockchain’s mainnet launched yesterday, its native token, SEI, was concurrently listed on main crypto exchanges together with Binance, Bybit, Huobi, and Kraken.
In simply 24 hours, the token has hit a buying and selling quantity of over $1.3 billion, with a completely diluted market cap of $2.7 billion, per CoinGecko. SEI is at the moment ranked within the high 10 cryptocurrencies by 24-hour buying and selling quantity.
In line with CoinGecko, almost half of the token’s buying and selling quantity originated from the South Korean alternate Upbit, which dominates with a 24-hour quantity of 49.9%, totaling over $658 million. Binance takes second place with a 21.99% buying and selling quantity on the time of penning this.
Over $250 million price of the token has been traded on Binance over the past 24 hours. Listed at $0.06, the token reached a excessive of $0.45 earlier than retracing to $0.15.
On Tuesday, Coinbase revealed that it will add help for SEI, resulting in a 30% surge in its worth to its present worth of $0.23 right now.
Amid the joy surrounding the token, the hashtag “#SeiScam” additionally began trending on Twitter right now. This surge in on-line dialogue is rooted within the anticipation of Sei’s airdrop particulars, which testnet customers are nonetheless ready for.
Regardless of Sei’s announcement that the airdrop can be claimable upon the Public Mainnet launch, testnet customers have encountered difficulties in redeeming their tokens.
Sei is a Layer-1 blockchain designed to optimize decentralized exchanges and buying and selling purposes, for speedy transactions and scalability. The community claims to be the quickest Layer-1 blockchain, reaching a swift time to finality of as little as 250ms—with an added 100ms buffer to make sure the soundness of its protocol.
The corporate additionally asserts its functionality to deal with 20,000 orders per second.
In April, Sei Labs, a key contributor to the community, disclosed a profitable increase of $30 million over two strategic funding rounds. In line with the corporate, this funding goals to expedite Sei’s development trajectory and bolster its presence throughout the Asia-Pacific area.
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