SEI Token enters top 100 on major exchanges one day after its debut.

SEI Token enters top 100 on major exchanges one day after its debut.

The Rising Success of SEI Token on Multiple Exchanges

SEI, the native token of the Sei blockchain, has recently experienced a wave of success after its listing on several major cryptocurrency exchanges. On Tuesday, August 15th, Binance, Bybit, Bitget, Kucoin, and Kucoin all added SEI to their trading platforms, leading to a surge in its popularity.

The Sei Blockchain: An Overview

The Sei network stands out as a layer 1 blockchain that utilizes the Cosmos software development kit. Emphasizing scalability, it aims to address the needs of decentralized exchanges (DEXs) through innovative tools such as a matching engine and order front-run prevention mechanisms.

During its testnet phase, more than 7.5 million unique wallets were registered on the Sei network, along with an astonishing 400 million transactions. This showcases the high demand and potential that the blockchain holds.

SEI’s Remarkable Price Performance

SEI made an impressive debut on the exchanges, resulting in a significant price surge. Within just one hour of trading, the token skyrocketed by over 650%. On Binance, SEI opened at approximately $0.0639 and quickly reached a peak of $0.4812.

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However, it is important to note that the token has experienced a slight correction since then, currently trading around 44% lower than its recent high. As of now, the price stands at $0.2669, with a notable 16% increase in the past hour.

Market activity for SEI has surged, with an incredible 5,156.5% increase in trading volume over the past 24 hours, totaling $1,074,696,599. Meanwhile, the market cap of SEI has risen steadily, reaching approximately $445.4 million and securing the 92nd spot on the CoinGecko crypto ranking.

Interestingly, traders seemed to have predicted SEI’s success even before it was listed on multiple exchanges. Data from DEX Aevo’s pre-listing futures indicated that the token could achieve a market cap close to half a billion dollars upon its debut on centralized exchanges.

Furthermore, the total supply of SEI tokens is 10 billion, with an initial circulating supply of 1.8 billion, representing 18% of the total.

The “Cross-Chain” Airdrop

The Sei Foundation has recently unveiled details regarding its upcoming “cross-chain” airdrop for whitelisted users. Qualifying assets bridged into the network will be eligible for this airdrop, and tokens such as USDC, ETH, and WBTC are among those that qualify.

This exciting opportunity is open to active users on various blockchains, including Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain, and Osmosis. The cross-chain airdrop will be available for claiming at the public mainnet launch.

In conclusion, SEI has experienced significant success since its listing on major exchanges. As an innovative layer 1 blockchain, the Sei network offers scalable solutions for decentralized exchanges. The token’s price performance has been remarkable, with a substantial surge followed by some price correction. Additionally, the upcoming “cross-chain” airdrop presents an enticing opportunity for users to participate in the Sei ecosystem. By harnessing the power of blockchain technology, Sei has firmly established itself as a prominent player in the crypto industry.

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