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South Korean crypto SEI has experienced massive tailwinds in the crypto market, increasing by more than 3000% in the last 24 hours.
WuBlockchain also reported that its market capitalization exceeded $1 billion at one point, with many buyers flocking to Upbit for the SEI/KRW trading pair. Moving past a $1 billion market capitalization has allowed this crypto to go live on multiple cryptocurrency exchanges, including Binance.
Current price predictions also suggest that another 20% upswing is coming.
SEI Goes Up Four Digits in a Day
At press time, SEI is trading at $0.25, with a market capitalization of $453 million and a trading volume of $1.6 billion.
The hourly price chart of this crypto shows that this asset is moving in a jagged pattern after reaching its all-time high of $0.47.
After only a short time being listed on @Binance, the price of @SeiNetwork has increased by 700% 🚀🚀🚀
Congratulations Seilors 💯
Let's see how high the Sei Network price will get 😎#sei #binance pic.twitter.com/1lv962WYI6
— Sei Station🚢 (@Sei_Station) August 15, 2023
What is SEI?
SEI is the native crypto of the SEI Network, a proof of stake layer-one blockchain focused on specialized trading, according to the project’s whitepaper.
The whitepaper described Sei’s network as an innovator bringing a novel approach to transaction ordering, parallelization, and block processing. At the same time, it boasts a highly optimized matching engine.
Designed to cater to DeFi platforms, Sei also features cross-chain interoperability, which has generated much interest within the crypto ecosystem.
SEI Price Analysis
SEI only dropped yesterday and has quickly taken the market by storm. For now, the only reference we have is its hourly price chart showing some interest decrease over the last couple of hours.
The token’s RSI is now moving to the middle, dampening excitement around this asset.
However, if the fundamentals of the SEI network uphold in the coming days, it can move up further to retest its all-time high.
SEI Alternative – Chimpzee
While SEI has created a massive bullish wave akin to the meme coin mania, recent trends show lessening interest, making investing in assets with definite upsides a good time.
Chimpzee is a cryptocurrency that opened as an ICO in Q2 of this year and has now raised more than $1.1 million.
A green crypto project, Chimpzee has introduced three earning mechanics to entice users and protect the environment simultaneously.
Its shop-to-earn mechanic will allow users to earn CHMPZ tokens by interacting with the Chimpzee shop.
The Trade-to-Earn mechanic comes into play with Chimpzee’s NFT marketplace, which rewards users for trading NFTs.
Chimpzee has also introduced a P2E game, Zero Tolerance, which rewards users for completing specific tasks.
In addition to getting the tokens at a discounted price, early movers will also receive 100% bonus coins.
Visit chimpzee.io to participate in this presale today.
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