In a noteworthy development, Sei Network, a freshly launched layer 1 protocol, witnessed a robust upswing of 12% in the valuation of its native digital asset – the SEI token. This upsurge was catalyzed by the recent listing of the SEI token on the distinguished US-based cryptocurrency exchange, Coinbase.
Presenting itself as a nascent blockchain venture, Sei Network has boldly positioned itself as a frontrunner in terms of speed within the blockchain sector. This claim has been underscored by the network’s self-proclaimed status as “the fastest blockchain in the industry.”
The SEI token’s debut was orchestrated through the Binance Launchpool program, marking its entrance onto the trading landscape early this August. After a brief incubation period, the token embarked on active trading just a few days ago. Most significantly, the SEI token has now secured a listing on Coinbase, the preeminent US-based cryptocurrency exchange. The exchange’s official communication articulated the following stance:
“Coinbase will extend its support to Sei (SEI) exclusively on the Sei Network. Users are cautioned against transacting this asset on alternative networks, as such actions could lead to the forfeiture of funds.”
Pending the fulfillment of liquidity prerequisites, trading activity for the SEI token is slated to commence later today. The phased rollout of trading on the SEI-USD pair will be predicated on the establishment of a sufficient supply of the asset. However, it’s noteworthy that certain jurisdictions might encounter limitations on SEI support.
Parallel to its listing success, indications suggest a burgeoning momentum for the SEI token in the South Korean market. BTSE’s CEO, Jeff Mei, remarked on this phenomenon, stating:
“The blockchain’s community, with its focus on decentralized finance, seems to have struck a chord within the South Korean retail sector. Trading volumes have surged on local exchanges such as Bithumb and Upbit.”
