Sei Community’s token SEI gained over 2600% in value on the primary day of its itemizing on Bitfinex, Binance, and Coinbase.
Main exchanges, together with Binance, Bybit, and Bitget, collectively listed SEI this week.
On Aug. 14, Bitfinex introduced they’d checklist the native token of the Sei Community, an open-source layer-1 blockchain.
In line with information offered by CoinMarketCap (CMC), Sei’s market capitalization presently stands at round $396.5 million, making it the 88th largest digital asset. SEI is up by over $2,600% up to now 24 hours — from its preliminary launch value of $0.007 — and is presently buying and selling at $0.221.
SEI’s 24-hour buying and selling quantity skyrocketed from round $35 million when it launched on Aug. 15 to roughly $1.2 billion on the time of writing.
CMC information exhibits that only one.8 billion SEI tokens have been added to circulation from its complete of 10 billion cash.
Sei was launched as a sector-specific layer-1 blockchain constructed on the Cosmos framework, tailor-made for buying and selling optimization. Initially based by Jeffrey Feng and Jayendra Jong, the staff behind the mission consists of professionals with backgrounds working at Goldman Sachs and Airbnb.
The mission has since promised fast transaction finality of 600ms and a capability of twenty-two,000 orders per second. It positions itself as a “Decentralized NASDAQ.” Its purpose is to ship a hybrid buying and selling expertise that merges centralized finance (cefi) options with decentralized finance (defi) instruments.
Since its inception, the mission has garnered vital consideration within the crypto neighborhood. It raised $30 million for growth over two strategic fundraising rounds, with buyers together with Leap, Distributed International, Multicoin, Uneven, and Bixin Ventures.
Though Bloomberg reported that DeFi was going through a significant downturn in January, tasks like Sei, which focuses on social platforms, gaming, and carbon credit, nonetheless present curiosity within the trade.