|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
SEI Network (SEI) Saw an Applaudable Price Jump, With the SEI Token's Market Cap Cruising Above $1.6B
Sep 27, 2024 at 03:24 am
On September 24, the SEI team announced new ecosystem integrations through a post on X. Two yield-generating Liquid Staking Tokens (LSTs), Seiyan ETH and Super Seiyan ETH, developed by Nucleus and Dinero, have successfully entered the SEI ecosystem.
SEI Network (SEI) price saw a remarkable 24% increase on Wednesday, with its market cap crossing the $1.6 billion mark. At the time of writing, SEI is trading at $0.46, according to CoinMarketCap data. Earlier in the day, the token briefly touched a high of $0.47. Over the last month, SEI has recorded a 30% rise, continuing its upward trajectory.
The SEI team announced new ecosystem integrations on September 24 in a post on X. Two yield-generating Liquid Staking Tokens (LSTs), Seiyan ETH and Super Seiyan ETH, developed by Nucleus and Dinero, have successfully entered the SEI ecosystem. While Nucleus operates as a yield provider for networks, Dinero serves as the yield framework for Ethereum.
Additionally, SEI revealed that the new partnership with Jellyverse brings fresh incentives to its users. Jellyverse, a decentralized finance (DeFi) ecosystem that provides synthetic Real World Assets (RWAs), now offers opportunities for SEI users to participate in yield farming.
SEI is a sector-specific Layer 1 (L1) blockchain optimized for decentralized exchanges (DEXes). Its design aims to streamline trading processes and offer DEXes a competitive edge. With its focus on performance, Sei seeks to meet the growing demand for efficient decentralized trading platforms.
Committed to environmental responsibility, Sei is also targeting carbon neutrality, aligning itself with the wider crypto trend of sustainability. The native token, SEI, powers this blockchain network, supporting its growth and development.
According to the X post, the recent integrations introduce several new benefits. Dinero’s Seiyan ETH ($sETH) and Super Seiyan ETH ($ssETH) are now offering incentives. Users can either hold ssETH or provide liquidity with sETH/WETH or ssETH/WETH pairs on Jellyverse, earning SEI, DINERO, and boosted Nucleus points.
Furthermore, ssETH will receive additional incentives through SEI, DINERO, and Nucleus points, distributed bi-weekly among token holders.
Jellyverse, in collaboration with Nucleus and Dinero, has also launched new ETH pools on top of the platform, providing more opportunities for SEI ecosystem participants.
SEI Network has seized a significant milestone as its Total Value Locked (TVL) surpassed $200 million, cementing its position as a key Layer 1 blockchain in the DeFi space. The surge in TVL followed the successful launch of its V2 protocol, which triggered a rapid rise from just $5 million in January 2024 to $200 million by September.
In the past four months since the V2 launch, the SEI Network has enjoyed a 57.44% monthly jump in value locked. Investor interest has equally ballooned due to the platform’s innovative DeFi offerings, leading to a 244% growth in active monthly participation and an increase to 65,000 daily active users.
SEI’s Tokenomics and an 8-10x Growth in Sight by 2025 With a circulating supply of 1.8 billion tokens out of a total of 10 billion, SEI has considerable room for expansion. Coinfomania predicts further growth as the network plans to release 55% of its tokens over the next year, providing additional development opportunities for the L1 blockchain.
Market analysts draw parallels between SEI's current trajectory and other Layer 1 tokens, such as Solana (SOL), Fantom (FTM), and Terra (LUNA), which experienced massive gains during previous Bitcoin bull markets. Given SEI’s growing presence in the promising DeFi and artificial intelligence (AI)-driven altcoin sectors, many analysts predict an 8-10x surge by 2025 appears to be on the horizon.
In 2023, SEI Network secured a $120 million Ecosystem Fund with an ambition to support projects built on its blockchain. The results of these investments are evident in the steady rise of SEI’s TVL, which grew from $5 million at the start of the year to $200 million by September.
With a growing user base, innovative tokenomics, and strong TVL performance, SEI Network is well-positioned to become a significant player in the Layer 1 blockchain sector, with a promising outlook for the years ahead.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- How to Beat Every High Roller in Star Wars Outlaws
- Sep 27, 2024 at 06:25 am
- Kay must beat several High Roller Sabacc players across all available planets in Star Wars Outlaws. We will tell you how to complete the quest, where to find all of the Higo Rollers and our strategy for how to beat all of them!.
-
- Dogecoin (DOGE) Price May Soon Experience Its Biggest Bullish Breakout in History
- Sep 27, 2024 at 06:25 am
- According to its current chart, the meme coin has been fluctuating between $0.1071 and $0.1109 for a while now and it has finally shown signs of a potential price jump.
-
- The Bear Steepener: A Cautionary Tale for Investors
- Sep 27, 2024 at 06:25 am
- The recent dynamics in the Treasury market, marked by a surge in long-term yields despite the Federal Reserve's aggressive rate cut, present a fascinating yet potentially concerning scenario for investors.
-
- Super Micro Computer Plunges 12% Amid Justice Department Probe and Hindenburg Research Allegations
- Sep 27, 2024 at 06:25 am
- Super Micro Computer’s recent 12% stock plunge, triggered by news of a Justice Department probe and preceding allegations from Hindenburg Research, presents a challenging scenario for investors.
-
- Elon Musk's 'Dogefather' Post Ignites Dogecoin Market, Whales Amass $140M in DOGE
- Sep 27, 2024 at 06:25 am
- Elon Musk’s latest ‘Dogefather’ post has sent shockwaves through the Dogecoin market, propelling the token past critical resistance levels.
-
- Hamster Kombat (HMSTR) Joins Binance's Expansive Offerings, Market Anticipates Price Increase
- Sep 27, 2024 at 06:25 am
- On September 26, Binance officially listed Hamster Kombat (HMSTR), offering users access to trading, margin, and investment services for the token.
-
- Prime Video Releases Trailer to Cross, the New Series Starring Aldis Hodge as Author James Patterson's Brilliant Detective Alex Cross
- Sep 27, 2024 at 06:25 am
- The trailer shows the criminal psychologist on the hunt for a vicious serial killer who wears a creepy realistic mask.
-
- Hamster Kombat Airdrop Leaves Many Players Feeling Shortchanged
- Sep 27, 2024 at 06:25 am
- Hamster Kombat, a popular Telegram-based game, recently conducted an airdrop that left many players feeling shortchanged.
-
- Iowa County veteran starts coin challenge to raise suicide awareness
- Sep 27, 2024 at 06:25 am
- MARENGO, Iowa (KCRG) - August 27th is a day Jennifer Olson remembers well.