Alexander Savenkov SEI’s Challenging Inception: Fresh L1 Crypto Asset Plunges 65% within Three Days Amidst Market Chaos
The recent cryptocurrency to hit the market, SEI, faced a significant setback, diving more than 65% from its apex value within a short span of three days. This sharp 13% drop coincided with a downturn in the wider crypto market in the previous 24 hours.
L1 Token SEI Crashes 65% from All-Time High
SEI has entered the L1 blockchain sphere, specially crafted for trading purposes. As of Friday, the price of this freshly introduced token was fluctuating between $0.15 and $0.184 per unit. Promoted by its developers as one of the fastest L1 networks, SEI boasts a transaction completion time of just half a second and can handle 20,000 transactions per second.
The SEI’s documents emphasize its unique “Twin-turbo consensus” model, engineered for supreme efficiency. The creators point out that SEI is one of a small number of chains that utilize market-based parallel processing. Additionally, SEI’s network includes an integrated exchange matching engine and defenses against frontrunning, tackling typical weaknesses in competing systems. Up to now, SEI’s market showing has been unimpressive.
By Friday, SEI had dropped 65.71% from its peak price of $0.455 per token recorded on August 16.
Despite being in the trading scene for only three days, SEI has already nosedived 65.71% from its all-time high on August 16, 2023, hitting a record low of $0.15 on Friday. With a market capitalization around $279.51 million, SEI holds the 115th position among more than 10,000 crypto assets, aligning with other notable L1 launches such as aptos (APT) and sui (SUI).
APT, ranking 38th among the 10,000+ cryptocurrencies, has fallen 71.07% from its high on January 26, 2023, although it surged 87.13% from its nadir on December 29, 2022. Meanwhile, SUI, another new L1 player, has dropped 78.10% from its peak price attained on May 03, 2023, reaching its lowest valuation on August 17, 2023.
What are your views on SEI’s market behavior during the past three days? Please feel free to express your insights and perspectives on this topic in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about fokus keyword: SEI
What is SEI, and how did it perform after its launch?
SEI is a newly listed cryptocurrency in the L1 blockchain realm tailored for trading. It took a substantial hit after its debut, plummeting over 65% from its peak value in just three days. It claims a transaction finality of a mere half-second and processing 20,000 orders per second but has had a lackluster market performance so far.
What are the distinctive features of SEI’s technology?
SEI’s technology highlights include its distinctive “Twin-turbo consensus” designed for optimal efficiency and market-based parallelization. The network also offers an in-built exchange matching engine and protection against frontrunning, addressing common vulnerabilities in rival ecosystems.
How does SEI compare with other L1 debuts like APT and SUI?
SEI occupies the 115th slot among over 10,000 crypto assets, with a market cap hovering around $279.51 million. APT has descended 71.07% from its zenith, and SUI has fallen 78.10% from its top price. All three have faced significant declines, but SEI’s fall has been particularly rapid and substantial in comparison.
What was the price range of SEI on the first Friday after its launch?
On the first Friday after its launch, SEI’s price hovered between $0.15 and $0.184 apiece.
What are the broader market conditions, and how did they impact SEI?
The broader crypto market faced a decline in the last 24 hours, which mirrored SEI’s latest 13% tumble. The overall market turmoil seems to have had an impact on SEI’s steep drop in value.
7 comments
Seems like a pretty bad time to jump into the market with a new token, especilly when others are failing too. But maybe it’s a good time to buy low?
the l1 space is getting crowded, isn’t it? More competition means more risks, I guess. Not a good time for a rocky start for SEI.
SEI 65% in 3 days, that’s something. But APT and SUI are not doing great either. Maybe it’s just a bad season for l1 tokens.
Anyone knows more about this “Twin-turbo consensus”? Sounds fancy, but does it work? And what about APT and SUI? I need more info here
Can’t belive I bought SEI at peak price. This is crazy, should’ve waited a bit. They say it’s fast, but my investment’s gone faster!
Who’s behind SEI? need to know more about the team. Can’t trust these new tokens without proper research.
Wow, that’s a huge drop for SEI, never seen anything like this before. What’s going on with the crypto market these days?