1 year ago
The recently listed cryptocurrency SEI took a important deed aft its debut, plummeting implicit 65% from its highest worth successful conscionable 3 days. The coin’s latest 13% tumble mirrored a diminution successful the broader crypto marketplace successful the past 24 hours.
New L1 Token Plummets 65% From Record High
Enter SEI, the latest entrant successful the L1 blockchain realm tailored for trading. By Friday, this recently launched token hovered betwixt $0.15 and $0.184 apiece. Touted by the squad arsenic 1 of the swiftest L1 networks, SEI claims a transaction finality of a specified half-second, processing 20,000 orders per second.
SEI’s documentation highlights its distinctive “Twin-turbo consensus”, designed for optimal efficiency. Developers enactment that SEI is among the fewer chains that follow market-based parallelization. Moreover, SEI’s web offers an in-built speech matching motor and extortion against frontrunning, addressing communal vulnerabilities successful rival ecosystems. So far, however, SEI’s marketplace show has been lackluster.
Although SEI has been successful the trading crippled for a scant 3 days, it’s already plunged 65.71% from its grounds precocious connected August 16, 2023. Touching $0.15 connected Friday marked its lowest valuation yet. With a marketplace headdress hovering astir $279.51 million, SEI occupies the 115th slot among implicit 10,000 crypto assets, joining the ranks of different hyped L1 debuts similar aptos (APT) and sui (SUI).
APT, holding the 38th fertile among the 10,000+ coins, has descended 71.07% from its zenith connected January 26, 2023. Yet, it roseate 87.13% from its lowest constituent connected December 29, 2022. On the different hand, SUI, different recently launched L1 contender, has fallen 78.10% from its apical terms reached connected May 03, 2023, hitting its lowest worth connected August 17, 2023.
What bash you deliberation astir SEI’s marketplace show implicit the past 3 days? Share your thoughts and opinions astir this taxable successful the comments conception below.
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