A day after making its debut on many significant exchanges, #SEI , the native #cryptocurrency of the Sei blockchain, seems to be garnering tremendous traction. The token was jointly listed on the trading platforms of #Binance , Bybit, Bitget, Kucoin, and Kucoin on Tuesday, August 15.
Following a fruitful alpha phase, the network's developer, Sei Labs, announced the beginning of the beta mainnet phase on the same day. More than 7.5 million distinct wallets and 400 million transactions, according to the developers, were registered during the testnet period.
Pacific-1, the Sei Mainnet beta, is now available.
Using the following link: https://t.co/kllP3XP3dZ pic.twitter.com/dMdocFMba0, users can now stake and bridge their SEI.
On August 15, 2023, Sei (@SeiNetwork) tweeted.
A layer 1 blockchain called the Sei network was created using the Cosmos software development kit. Using its matching engine and order front-run prevention techniques, it says it can scale decentralised exchanges (DEXs).
After being listed on several exchanges, SEI's price shot up, rising by more than 650% in just one hour. The coin started trading at roughly $0.0639 on Binance before surging to a peak of $0.4812.
But since then, SEI's price has slightly corrected, and it now trades at a level that is 44% below its most recent high. As of this writing, the token is trading at $0.2669, a significant 16% price increase over the previous hour.
Similar to this, SEI's market capitalization has been steadily increasing over the previous day. The coin is ranked 92nd on CoinGecko's list of top cryptocurrencies with a market valuation of around $445.4 million.
It's interesting to note that traders appear to have predicted SEI's current performance before it was listed on various exchanges. According to data from DEX Aevo's pre-listing futures, the token's market cap might reach about $500 million when it makes its debut on centralised exchanges.
Airdrop "Cross-Chain"
The Sei Foundation announced the specifics of its impending "cross-chain" airdrop on Tuesday, August 15, for whitelisted users who bridge qualified assets into the network. The suitable tokens include WBTC (Wrapped Bitcoin), ETH, USDC, and others.
The airdrop is only open to active users of a few number of blockchains, including Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain, and Osmosis. The cross-chain airdrop will be available for claim during the public mainnet launch, per the statement.æç