SEI Price Surges 30X; Coinbase Listing, Sei Mainnet Launches

The highly anticipated mainnet of Sei, a Layer 1 blockchain, has finally launched, attracting considerable attention from the cryptocurrency ecosystem. The blockchain intends to address the present inefficiencies of Web 3 infrastructure by being optimized for high-speed digital asset trade at scale.

SEI Mainnet Goes Live, SEI Airdrop Announced

Sei’s mainnet has already garnered significant support from developers and users alike. According to a recent press release, over 200 teams are building on the blockchain, and it has more than 7.5 million unique wallets. The mainnet is the foundation for various applications scheduled to launch in the second half of 2023, including Sushiswap’s decentralized perpetual futures exchange.

In a recent statement, Jeff Feng, co-founder of Sei Labs, emphasized the significance of the mainnet launch. “Current web 3 infrastructure is un-scalable, congested, and still too slow,” he said. “Sei is designed to let apps and other projects scale in a way that no other blockchain can, while also maintaining a user-friendly experience.”

In tandem with the mainnet launch, the Sei Foundation announced SEI airdrop for allowed users who bridge qualifying assets into the Sei network. Examples of purchases eligible for the airdrop include USDC, ETH, maticUSDC, and bnbUSDT. 

Recently the Sei Foundation had released details of Tokenomics and Rewards for the Sei Community.
Nothing about this has changed.

The Sei Airdrop is ready. Sei Labs is awaiting the final ecosystem partners to complete their work to ensure everything goes smoothly and to…

— Sei Foundation (@Sei_FND) August 15, 2023

Active users on Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain, and Osmosis are eligible to participate. Wallets must be mainnet-ready and connected to the Pacific-1 Mainnet to receive airdrop tokens.

Coinbase and other major exchanges list SEI token

Coinbase, a leading cryptocurrency exchange, announced support for the newly launched SEI token, with trading anticipated to begin if liquidity conditions are met. Other significant businesses, including Binance, Bybit, Bitget, KuCoin, and Upbit, have also announced SEI listings.

Coinbase will add support for Sei (SEI) on the Sei network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️ (@CoinbaseAssets) August 15, 2023

As a result of the listings, the Sei (SEI) price had risen by 3126.53% to $0.2639 at the time of publication, demonstrating the token’s tremendous demand and enthusiasm. This price increase reflects the market’s trust in SEI and its potential for development.

SEI/USD 24-hour price chart (source: CoinMarketCap)

Is SEI a Good Investment?

Sei Labs secured $30 million in funding across two funding rounds in May. Notable investors in the project include Jump Crypto, Multicoin Capital, and Flow Traders.

With experience at prestigious institutions such as Goldman Sachs, Robinhood, and Binance, the team behind Sei’s inception brings a wealth of knowledge. Their combined expertise is set to drive Sei’s innovative journey forward to transform the asset exchange process for users worldwide.

Sei’s mainnet launch marks a significant milestone in the blockchain space, offering a scalable and user-friendly platform for digital asset trading. The project’s robust backing and enthusiastic adoption by developers and users alike hint at a promising future for Sei in the cryptocurrency ecosystem.