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Avalanche C-Chain Experiences Block Production Halt, AVAX Price Responds

In a recent development, the Avalanche (AVAX) C-Chain encountered a significant disruption in block production, leading to a halt for over one hour. The interruption, which affected the primary network, was observed through the Avascan browser, with the last transaction recorded at block 42046853 (19:13 UTC+8).

Although other subnets experienced a slight delay, the primary network faced the most substantial impact.

Avalanche C-Chain Block Production Halt

Ava Labs, the team behind the Avalanche protocol, acknowledged the issue and promptly initiated an investigation. According to Kevin Sekniqi, co-founder of Avalanche, the disruption is believed to be related to a new inscription wave that was launched approximately an hour before the block production interruption. 

Sekniqi expressed confidence that the incident was caused by an “esoteric bug” stemming from an untested edge case, emphasizing the need for a swift resolution.

The disruption is presumed to be associated with a mempool handling issue specifically tied to inscriptions, which encountered untested edge cases.

When questioned about the possibility of such untested scenarios arising, Sekniqi acknowledged that while ideally, there should be no untested edge cases, the vastness of the codebase and continuous updates make it challenging to anticipate every possible scenario. 

Avalanche

The Avalanche co-founder further clarified that thorough testing is conducted on testnets, but the intricacies of the mainnet environment can introduce “unforeseen challenges.”

At present, no further official statement has been issued by the Avalanche protocol, awaiting additional reports and updates from the development team to gain further insights into the situation. 

AVAX Price Dips

During the occurrence of the block production halt, the AVAX price, which serves as the native token of the Avalanche protocol, exhibited a negative reaction, further extending the ongoing decline observed since Thursday when the price was at $ 43.

As of now, the AVAX price has reached $ 36.13, indicating a decline of over 2% within the past 24 hours, accompanied by a substantial drop of 11.7% over the course of the previous seven days.

Avalanche

The subsequent actions taken by the Avalanche team in response to this situation, as well as the consequential effect on the AVAX price, are yet to be determined.

Featured image from Shutterstock, chart from TradingView.com

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Is Ripple Dumping Millions Of XRP? CTO Addresses Reasons Behind $34 Million Transaction

Ripple has always been subjected to claims of manipulating the price of XRP and its natural growth by selling coins. As the cryptocurrency’s largest holder, Ripple has faced constant criticism about the amount of XRP it holds, with detractors arguing it gives them too much control and influence over the price. 

Particularly, there’s been some drama swirling around the altcoin lately and claims that Ripple has been manipulating the market and systematically dumping its large holdings. This has come in light of a large transfer of 60 million XRP tokens from Ripple to an unknown wallet address. 

Ripple Accused Of Dumping XRP And Manipulating Market

Whale transaction tracker Whale Alerts recently posted on social media a transfer of 60 million XRP worth $ 34 million from a Ripple-controlled wallet address into a private address. A further look shows that the private recipient wallet currently holds over 138 million XRP worth $ 75.5 million, with this same address receiving 80 million XRP from Ripple on February 11.

At the time of writing, Ripple controls about 6% of the current circulating supply. Therefore, it is only natural that large transactions like this from Ripple would generate waves in the market and lead to speculations. Consequently, the large transfers have reignited claims of Ripple selling its holdings amidst ongoing consolidation in the price of XRP.

In addition, debates regarding XRP’s programmatic sales have resurfaced, as history shows this isn’t new to Ripple. According to details shared by a social media user, Jim_Knox, Ripple allegedly delivered XRP to three market makers in 2017 for the purpose of market sales, which resulted in a price suppression of the cryptocurrency during that particular period. Furthermore, recent accusations have taken root of Ripple using what it called the 4t and 6t bots to execute programmatic sales to exchanges.  

Ripple CTO Addresses Concerns

Ripple CTO David Schwartz took to a social media thread to address the rumors of price manipulation. An XRP community member had shared a meme suggesting that Ripple’s 4t and 6t bots have always prevented the price of XRP from increasing, keeping it at the $ 0.50 level. 

However, Schwartz pointed out that Ripple has discontinued the programmatic sales of XRP, with the company only selling its holdings through ODL transactions. The ODL transaction method is Ripple’s unique payment solution that offers instantaneous cross-border transactions. On the other hand, concerns regarding the recent large transactions from Ripple to unknown wallets are yet to be addressed, and it all remains speculative at this point.

XRP is trading at $ 0.5463 at the time of writing, down by 0.50% in the past 24 hours but still maintaining a meager 2% gain in a 30-day timeframe. Recent transaction alerts from Whale Alerts have shown large amounts of XRP leaving private wallets to crypto exchanges, hinting at potential selloffs.  

XRP price chart from Tradingview.com (Ripple CTO)

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Bitcoin Spot ETFs: Issuers Set New Record As Weekly Inflows Cross $2.2 Billion

Bitcoin spot exchange-traded funds have been online in the US for only two months, but their performance has far eclipsed any other asset class. These ETFs recently hit a new milestone, drawing over $ 2.2 billion in inflows last week alone, shattering the previous weekly record set on the first week of trading. This is a particularly noteworthy development because, as senior Bloomberg analyst Eric Balchunas pointed out, this inflow skyrocketed past the 3,400 plus ETFs available in the US, like the SPLG US and the SPY US. 

Bitcoin ETF Inflows Surge Amid Competition

Bitcoin ETFs have fully captured the interest of institutional investors, with trading volume indicating their appealing nature. Trading volume statistics reveal these 10 ETFS have been experiencing a great deal of activity since their launch, netting more than $ 2.3 billion last week alone to bring the total inflow to $ 4.926 billion since they went live. As pointed out by Eric Balchunas, the significant inflow last week puts the ETFs above more established ETFs in the United States.

Notably, most of this inflow went into BlackRock’s iShares Bitcoin Trust (IBIT), which has outperformed the nine other Bitcoin ETFs and ETFs of other asset classes. IBIT accumulated $ 1.673 billion in net inflows throughout the week, making it the third-largest inflow among any of the 3,500 plus exchange-traded funds. 

At the close of last week’s trading session, BlackRock’s IBIT has received a $ 5.2 billion net inflow since its launch. Notably, this amounts to 50% of the investment company’s net inflow of $ 10.4 billion from its 417 ETFs since the beginning of the year. 

It’s important to note that these staggering inflow numbers have come amidst an ongoing outflow from the Grayscale Bitcoin Trust ETF (GBTC). While outflows from the ETFs have slowed down compared to recent weeks, the GBTC witnessed $ 624 million in outflows during the week. “Again, this is all net GBTC bleed,” Balchunas noted.

BTC Bullish Price Momentum Set To Continue

Bitcoin’s price has skyrocketed over 33% in the past 30 days, recently topping $ 52,000 per coin for the first time since 2021. Current price action shows Bitcoin has somehow stabilized around this price point, with the crypto trading between $ 52,700 and $ 50,700 in the past five days. At the time of writing, Bitcoin is trading at $ 52,307.

However, the fear of missing out on further gains is driving many new investors to Bitcoin ETFs. According to an analyst, inflows into these ETFs are on track to reach $ 150 billion by the end of 2025. With a new all-time high now looking plausible, Bitcoin is set to continue on its price gain as spot ETF trading commences throughout the week.

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Is Bitcoin Price Facing A Correction To $46,000? Here’s What This Analyst Thinks

Over the past week, the Bitcoin price put in one of its finest performances since the start of 2024, breaking above $ 50,000 for the first time since 2021. While the premier cryptocurrency has been moving mostly sideways in the past few days, it continues to hold its own above the $ 51,000 mark.

However, a popular crypto analyst on the X platform has put forward an interesting prognosis for the Bitcoin price, stating that the coin might experience some bearish pressure in the near future.

Is BTC Headed To $ 46,000?

On Thursday, February 15, prominent crypto analyst Ali Martinez sounded the sell alarm – based on the Tom Demark Sequential indicator – for Bitcoin. According to the analyst, investors should anticipate a one-to-four candlesticks correction on BTC’s daily chart in the coming days.

Ali Martinez took to the X platform on Saturday, February 17, to share an in-depth analysis of an impending correction for the Bitcoin price. This evaluation is based on the distribution of holders’ cost basis across the various BTC price zones near the current price of the cryptocurrency.

With this on-chain indicator, the strength of any resistance or support level depends on the number of coins acquired by investors within the price range. And this strength is portrayed by how large or small the circles (representing the price ranges) are.

Bitcoin price

As shown in the chart above, the price of Bitcoin seems to be facing significant resistance between $ 51,099 and $ 52,582. Recognizing this pattern, Martinez said in his post that if the flagship cryptocurrency fails to reclaim the $ 52,000 level, then it is at risk of an 8% price correction. 

An 8% decline from the current point would see the Bitcoin price drop to between the $ 48,000 and $ 46,500 zone. According to the on-chain resistance data, more than 1 million addresses bought 544,870 BTC within this range, making it a significant support level.

Bitcoin Price Overview

As of this writing, the Bitcoin price stands at around $ 51,650, reflecting an almost 0.9% dip in the past 24 hours. Despite the recent bearish pressure slowing down its momentum, the market leader has maintained most of its profit from the past week.

According to data from CoinGecko, Bitcoin’s value has jumped by more than 8% in the last seven days. Meanwhile, the cryptocurrency has registered over 20% growth so far in the month of February.

Thanks to the recent price rise, BTC surpassed the $ 1 trillion mark in terms of market capitalization, solidifying its position as the largest asset in the cryptocurrency sector.

Bitcoin price

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Hot New Memecoin Is Surging, Toncoin (TON) and Celestia (TIA) Are Struggling for Momentum

Despite the recent market surge, Toncoin and Celestia have lost their momentum. Both projects have seen price declines over the last 24 hours, causing investors to jump boat and diversify.

Meanwhile, a new meme coin is surging during its presale. Now, as early investors prepare for returns of 220%, experts believe this project could become one of the biggest meme coins of 2024.

Toncoin Pioneers New DeFi Developments

Toncoin is working to bridge the gap between DeFi and real-world applications. Over the last month, Toncoin’s new development has made it possible for users to buy anonymous phone numbers. The altcoin also set a new translation speed record, with 104,715 transactions per second.

These developments have put Toncoin on the radar of many investors, however, the altcoins price performance has been poor. Over the last month, Toncoin’s price decreased by 5.55%, while many projects saw increases of over 20%.

Consequently, Toncoin’s popularity has decreased, and its daily trading volume has fallen to just $ 41 million. According to CoinMarketCap, this makes Toncoin the #160 ranked cryptocurrency by daily trading volume, despite TON being the 15th ranked cryptocurrency by market cap.

Celestia Crashes After Hitting An All-Time High

On February 10, Celestia hit a new all-time high of $ 20.91. This achievement helped Celestia make global headlines, during which Celestia’s daily trading volume surged. However, since hitting this milestone, Celestia’s momentum has crashed.

The altcoin hit a strong resistance, and its price is down by 12.62% to $ 18.21. This price crash has caused Celestia’s daily trading volume to fall to $ 220 million, and some investors are now selling their TIA tokens.

Nonetheless, experts remain bullish about Celestia. According to bullish market predictions, Celestia could hit $ 30 by the end of Q1. This significant increase would make Celestia one of the markets best-performing altcoins, though it would require the general crypto market to remain bullish for at least another month.

Investors Choose This New Altcoin Over Trending Cryptos

As several altcoins start to lose their momentum, many investors are choosing to diversify with a popular new meme coin, KangaMoon.

KangaMoon (KANG) has quickly attracted a bullish investor community with its hybrid social-fi and P2E model. Unlike other meme coins, KangaMoon offers fantastic utility and gives its player base several different income opportunities.

For example, KangaMoon users will be able to complete weekly, monthly, and quarterly challenges to win the project’s native token, KANG. Furthermore, during the KangaMoon presale, investors who actively promote the project will be granted additional KANG rewards.

The KangaMoon ecosystem is designed to promote social activity. Users will be rewarded for engaging with players, with more social activity leading to greater social rewards. The aim of this is to create a vibrant, exciting community where DeFi enthusiasts can network, build new connections, and more.

KANG tokens are currently available for $ 0.005, though are expected to increase in value soon as stage 1 of the KangaMoon presale sells out. During its presale, analysts speculate that KangaMoon could offer returns of over 220%, which has made the presale a popular option among altcoin investors.

Can KangaMoon Outpace Toncoin and Celestia?

Having already gained significant momentum, KangaMoon is expected to outperform Toncoin and Celestia in Q1. Once it launches on Tier-1 exchanges, experts speculate that KangaMoon could offer additional returns of up to 350%, which has made the meme coin a highly anticipated project.

Discover the Exciting Opportunities of the Kangamoon (KANG) Presale Today!

Website: https://Kangamoon.com/

Join Our Telegram Community: https://t.me/Kangamoonofficial

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XRP Price’s 7,000% Pump: Analyst Foresees Massive Move If This Happens

XRP may not have had the best start to 2024, but several cryptocurrency analysts and enthusiasts are still bullish about the crypto asset, predicting a possible price surge to new highs heights.

Popular cryptocurrency analyst Egrag Crypto has made a daring prediction for XRP, suggesting a rise to a new peak. Egrag Crypto’s forecast delves into the token’s potential to reach the $ 2 price mark and way beyond.

XRP Poised To Skyrocket To A New All-Time High

In his projections shared on the X platform, the analyst noted that XRP is presently caught between the two moving average indicators, the 21-exponential Moving Average (EMA) and the 55-moving Average (MA).

As a result, Egrag crypto has predicted a potential 7000% price rally if XRP breaks out of the moving averages. However, the expert believes the rally will occur when XRP’s price reaches $ 2.2.

XRP

If such a rise occurs during the aforementioned price level, it will increase to about $ 139, according to Egrag. His forecasts are supported by historical data, which he uses to highlight a similar trend in the 2017 bull run.

It is noteworthy that before the 2017 bull run, XRP was similarly hedged between the 21 EMA and the 55 MA. On the other hand, XRP initially saw a price spike to $ 0.0302 following a breakout, and then it soared by 7,000% to the $ 2 mark. 

The analyst has underscored that about 99% of people might not comprehend his projections now. Nonetheless, when utility starts to take off, it might just be the start of a multi-decade trend.

Even though a breakout from the 21 EMA and 55 MA presents a possible rally, there is also a risk for a potential decline. According to Egrag Crypto, this position could lead to a decline to around $ 0.45.

He further claimed that XRP closing above $ 0.60 would be crucial, pushing the asset above the 21 EMA. Additionally, it will rise above the level of local resistance in a “candle style.”

Several Factors Of The Mega Move 

Following the prediction, Egrag has pointed out multiple aspects that set his predictions aside. “This could be the prelude to a mega move, a breakout that occurs once in a lifetime,” he stated.

The first aspect highlighted by the analyst is that if the rally takes place, XRP would conclude “the W Formation.” After that, it could “finalize the ascending triangle formation.”

Meanwhile, for the last aspect, he noted that “it could trigger a 500% rise” from the current price of XRP. This might potentially start a big price surge from higher levels. So far, Egrag has urged the crypto community not to be misled by his chart, as his forecast could be a life-changing opportunity.

XRP
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Bitcoin ETF Surges: Last 4 Days Inflows Outpace Initial Weeks

Bitcoin (BTC) Spot Exchange-Traded Funds (ETFs) are currently in the limelight as the products have seen massive net inflows in the past few days than in the initial weeks of introduction, dominating the market of crypto investment products.

Bitcoin ETF Inflows Surges In The Last 4 Days

Thomas Fahrer, the co-founder of Bitcoin tracking platform Apollo, took to the social media platform X (formerly Twitter) to share the development with the community. Fahrer pointed out that BTC spot ETFs are presently experiencing a “total acceleration” of inflows.

Meanwhile, the products in the past 4 days have witnessed an inflow of 43,000 BTC tokens valued at $ 2.3 billion. This latest surge in inflows suggests renewed adoption of the products from crypto players and investors.

Data from Apollo reveals that Grayscale is the leading firm in Assets Under Management (AUM). Registered as Grayscale Bitcoin Trust (GBTC), the company boasts a whopping $ 23.7 billion AUM.

However, this is a notable drop from $ 28 billion in assets it had on January 11, after transitioning to an ETF. This is due to the daily net outflows the fund has seen since it was approved by the US Securities and Exchange Commission (SEC).

Blackrock comes in second after Grayscale, with an asset under management of over $ 5 billion since it started trading. It is followed by Wise Origin Bitcoin Trust (FBTC) and Ark/21Shares Bitcoin Trust (ARKB), which come in third and fourth place, respectively.

Investment firm Bitwise’s Bitcoin ETF (BITB) is the latest company to reach the billion-dollar milestone. As of the press, the company’s BTC ETF is the fifth largest behind the aforementioned asset management companies.

Blackrock Records Its Largest Inflow

On Tuesday, Blackrock recorded its largest inflow day ever since Bitcoin ET products were approved. A senior Bloomberg Intelligence analyst, Eric Balchunas, revealed information regarding the update on X.

He stated that Blackrock’s BTC ETF was booming on Tuesday, seeing almost “half a billion” inflow. According to the data shared by Balchunas, IBIT made $ 493 million in revenue during the trading day.

IBIT’s previous largest daily net inflow was $ 386 million, recorded on the second trading day of January 12. Consequently, Blackrock’s Bitcoin ETF overall inflow exceeded the $ 5 billion mark after the Tuesday event. So far, of all ETFs, Blackrock’s IBIT leads by “7% by size in just 23 days of trading.”

These developments came in light of the recent rally around Bitcoin in the past few days, which took BTC’s price above $ 50,000. Many market enthusiasts believe that a major factor in the rally is the reason surrounding the BTC ETF flows.

Bitcoin
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XRP Price Could Surge from New Acquisition, Amid Community Skepticism

Recently, Ripple announced the acquisition of Standard Custody & Trust Company, a digital asset custodian. The company aims to expand into different sectors beyond its core payments network business.

This development may become the key catalyst in driving the price of XRP to new heights, addressing historical challenges of price declines and stagnant growth. 

Ripple’s Acquisition Sets Stage For Potential XRP Price Surge

On Tuesday, February 13, Ripple disclosed the formal agreement to acquire Standard Custody to continually expand its offerings and pursue smart acquisitions to capitalize on present and future market opportunities

The acquisition of Standard Custody signals Ripple’s commitment to serving its customers and fostering growth and security in the Ripple ecosystem. By implementing a digital asset custodian, Ripple can provide secure storage and management of digital assets like XRP

Additionally, a cryptocurrency custodian can potentially boost confidence in investors and financial institutions. This increased trust may attract substantial institutional investors into the XRP ecosystem, potentially driving up demand and triggering a price increase for XRP. 

According to CoinMarketCap, XRP is priced at $ 0.5, reflecting a 0.95% decrease in the last 24 hours and an 8.87% drop over the past month.

Ripple XRP XRPUSDT

Despite bullish market trends, the cryptocurrency has lingered around the $ 0.5 price for months, leading to a shift in investor sentiment and confidence. Some members of the XRP community have also accused the cryptocurrency of being purposefully suppressed. 

In light of this, Ripple’s strategic acquisition has the potential to act as a catalyst, boosting the price of XRP. The digital asset custodian could introduce an element of stability to the XRP ecosystem, addressing regulatory uncertainties plaguing the ecosystem.

Consequently, this may positively influence the general perception of XRP, attracting favorable sentiments and institutional investors and potentially contributing to an upward price movement.

XRP Community Divided As Doubts Emerge

Despite Ripple’s latest announcement and the potential positive impacts the acquisition may have on the ecosystem, the XRP community has remained in doubt, continually voicing out concerns over the depressed state of the cryptocurrency. 

Responding to Ripple Chief Executive Officer (CEO) Brad Garlinghouse’s statement about the company’s plans to acquire Standard Custody, an XRP supporter and investor, identified as “MackAttackXRP” on X (formerly Twitter), expressed skepticism, stating that Ripple’s recent developments were insufficient to generate a positive impact on XRP’s price. 

Mack revealed that the price of XRP has been “structurally too low for the past five years.” He mentioned a notable shift in perspectives among XRP community members, with some opting to change their XRP for more promising cryptocurrencies or exit the market altogether. 

Another XRP community member expressed his frustration about the cryptocurrency’s price, disclosing that many dedicated supporters of XRP are starting to lose hope for the cryptocurrency and may consider leaving before witnessing any significant price increases for XRP. 

Chart from Tradingview

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These Dogecoin Whale Transaction Stats Spell Trouble Despite Ongoing Crypto Rally

Dogecoin’s current metrics point to a confused path as the broader crypto market rallies after Bitcoin crossed the $ 50,000 level. Dogecoin has been posting some gains along with the rest of the crypto market, but behind the scenes, the meme coin’s transaction volume and whale transaction count have been discouraging. 

According to on-chain data first shared on social media platform X by crypto analyst Ali Martinez, Dogecoin has experienced a low transaction volume in the past few days, fueled by a drop in trading activity from large traders. 

Dogecoin’s Transaction Volume And Whale Activity Drops

According to the Santiment data shared by Ali Martinez, DOGE has been posting gains since February 6. Still, the whale transaction count and the total transaction volume have failed to rise.

Notably, this gain has dwindled compared to the other major cryptocurrencies. As a result, Chainlink (LINK), which has been on a bullish run, was able to displace DOGE out of the top 10 in terms of market cap rankings.

This decline in whale activity indicates the current sentiment among large traders. Similarly, data from IntoTheBlock has reiterated a decline from this cohort of traders, as the number of daily transactions greater than $ 100,000 has failed to rise above 200 in the past few days. For comparison, daily transactions above $ 100,000 steadied above 1,000 throughout January.

When activity drops, but prices rise, it’s usually a sign that a rally isn’t sustainable. This decline in activity suggests that fewer people are using Dogecoin for payments and transfers. Instead, Dogecoin seems to be catching up in the hype of the crypto market rally. 

What Does This Mean for The Dogecoin Price Outlook?

Whales are known for their ability to move markets so that less activity could signal lower enthusiasm. As a result, Dogecoin’s decreasing transaction volume and whale activity could signal some trouble for the meme cryptocurrency’s value in the coming weeks, primarily as it relies heavily on hype and popularity to drive up its market price.

At the time of writing, DOGE seems to be particularly facing resistance at the $ 0.083 price level. However, the decreased volume doesn’t necessarily mean Dogecoin is doomed, as the whale transaction count could pick back up shortly. 

dogecoin doge dogeusdt

The Dogecoin Foundation recently announced an ambitious 2024 roadmap in a recent blog post outlining the vision for the meme coin’s future. The renewed dedication to improving Dogecoin’s underlying technology, increasing its utility and mainstream adoption gives a glimmer of optimism. 

At the time of writing, DOGE is trading at $ 0.08235, up by 2.39% in the past 24 hours. Failure to break out of the resistance at $ 0.083 could mean a reversal to the $ 0.0816 level.

Cover image from Dall-E, chart from Tradingview

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What Is Sei (SEI) Network?

The Sei (SEI) Network is a Cosmos-based layer-1 blockchain that aims to change the world of digital asset trading, especially in the decentralized exchange (DEX) ecosystem. It was specifically designed for the world of trading, featuring various sectors of the cryptocurrency space spanning GameFi, NFTs, and, most especially, decentralized finance (DeFi). Sei is positioned as the “Decentralized NASDAQ,” as it offers a seamless blend of centralized finance (CeFi) trading experiences with decentralized finance tools.

Since its inception, it has established itself as a major player in the cryptocurrency space by providing cutting-edge features and advantages over rivals. With its innovative technology stats and passionate community, it has become one of the fastest-growing Layer 1 blockchains for trading and other purposes.

At its core, the SEI token is designed to optimize and streamline business operations and interactions. It is expected to be not just a cryptocurrency but a comprehensive solution that addresses several challenges in the contemporary blockchain ecosystem. 

SEI Network founders

Who Are The Founders Of Sei Network?

Sei (SEI) network founders and brains behind the SEI are Jayendra Jog, Dan Edlebeck, and Jeffrey Feng. Jayendra Jog was the former lead software engineer at Robinhood, a popular centralized crypto exchange. 

Dan Edlebeck is the co-founder and CEO of Exidio, a decentralized VPN application in the Cosmos ecosystem. Lastly, Jeffrey Feng brought his investment experience from his role at Goldman Sachs.

Investors And Institutions Backing the SEI Token

The Sei network has a lot of credible investors and institutions backing it, such as Coinbase, which is one of the largest centralized exchanges (CEX) in the world; Jump, Muitcoincapital, Layer Zero, GSR, and many more, as shown in the screenshot from the website below.

SEI Investors

What Sei Network Aims To Achieve In The Crypto Space And Beyond 

Sei aims to foster smart, efficient, and sustainable enterprises, and it does so by leveraging the power of blockchain technology to automate processes, reduce costs, and eliminate intermediaries. This makes Sei tokens a frontrunner in the race toward a decentralized future.

Sei token is unique in its approach and functionality as it goes beyond the standard features of cryptocurrencies and offers a sophisticated governance model encouraging active community participation. It takes the decentralization aspect a notch higher by ensuring fair and transparent decision-making.

The token is designed for compatibility and scalability, allowing seamless integration with new and existing business systems. This means whether you are a large corporation like Blackrock, which manages $ 10 trillion in assets, or a small business startup, the Sei token is designed to fit right into your operations, providing you with the benefits of blockchain without the hassle of overhauling your business system.

How Does Sei (SEI) Work?

One of the major problems with decentralized exchange (DEXs) is that orders are either not processed on-chain or are processed on-chain on a fast blockchain at the expense of decentralization and security. 

Given this bottleneck, the Sei network has implemented several innovative features to resolve the challenges faced by decentralized exchanges (DEXs) by combining off-chain speed with on-chain security. It aggregates orders at the end of the block and executes them all at once rather than executing them one at a time, and in this way, it prevents the persistent problem of front-running in decentralized trading.

The Sei network also makes use of native price oracles that minimize external dependencies while offering trustworthy data feeds. It handles the placement and execution order of a single transaction as opposed to doing so in two (2).

What Makes The Network Unique?

The Sei network stands out from the rest due to its self-executing smart contracts with the terms of the agreement directly written into code lines. The code and the agreement contained therein then exist across a distributed blockchain network.

This means that the transactions are irreversible and trackable, and they do not require a third-party intermediary. This automation process drastically reduces costs and increases efficiency, making transactions smooth and very easy.

Blockchain

Sei tokens also utilize a decentralized infrastructure, which means any single central entity or authority does not control it. Instead, control is spread out amongst many different nodes or computers that participate in the network to ensure that even if one node goes down, the entire network continues running smoothly.

The decentralized nature of the SEI token fosters a sense of community and mutual trust among its users. It boasts a democratic system that encourages active participation and promotes transparency and fairness.

Notable Features Of The Sei (SEI) Network

Twin-Turbo Consensus Mechanism: The Sei network leverages the Cosmos SDK and Tendermint Core to provide decentralized trading apps with speed, security, capital efficiency, and decentralization.

Parallelization: The Sei blockchain divides work into smaller chunks, processing and executing them simultaneously to prevent front-running.

Native Order Matching: The Native Order Matching feature ensures that decentralized exchanges (DEXes) are able to have their own central limit order book (CLOB).

Order Bundling: Sei offers order bundling at the client and chain level to enhance user experience and efficiency.

Price Oracles: It’s integrated into a native system for trustworthy assets with real-time oracles provided by validators, meaning that Sei provides users with an Oracle module that functions as a token price reference.

Lightning Speed Transactions: Sei claims to offer 600 milliseconds in transaction finality, making it highly scalable compared to other crypto projects like Bitcoin, Ethereum, and even Solana.

Fee Structure: At launch, SEI tokens have no chain-level trading fees; however, decentralized exchanges (DEX) may introduce their transaction fees through smart contracts.

Potential Applications Across Various Industries 

Banking and Financial Industry: The Sei blockchain technology is designed to streamline operations, eliminating the need for intermediaries and reducing transaction costs. This will bring a new level of transparency to the banking and financial industry, with every transaction recorded and traceable on the blockchain.

Medical and Healthcare Industry: The Sei network offers an efficient way to manage and share patient data securely. This can help eradicate fraudulent activities, improve patient care, and enhance data interoperability.

Supply Chain (Import and Export) Industry: The Sei blockchain network token can ensure the authenticity and traceability of products, from the raw materials to the end consumers. Every step can be recorded on the blockchain, providing full visibility and reducing the emergence of counterfeit goods and products.

Impact on the Environment: Sei’s eco-friendly consensus mechanism significantly reduces energy consumption compared to traditional cryptocurrency. Its smart contracts can automate carbon credit trading, supporting businesses in their sustainability efforts.

Digital Identities: The Sei network can be employed to develop a secure decentralized solution for managing digital identities and protecting individuals’ privacy and digital data.

The Tokenomics Of SEI Coin

Sei’s native cryptocurrency, SEI, does not have a maximum supply of tokens to be mined. However, it has a total supply of 10 billion coins. This means all of the tokens in circulation have been free-mined on the blockchain, including those that are locked or reserved. The token has a circulating supply of 2.4 billion at the time of publication. 

According to its website, 48% of the supply is in an Ecosystem Reserve, with Private Sale Investors and the Team receiving 20% of the supply, respectively. 9% of the supply went to the Sei Foundation and the Launchpool received 3% of the supply.

SEI Coin tokenomics

Sei token is up 619% since its all-time low of $ 0.09536 on October 19, 2023, and its latest all-time high of $ 0.8778 was recorded on January 3, 2024. With a market cap of $ 1.5 billion, it is currently the 48th-largest cryptocurrency in the industry.

Conclusion

The Sei network aims to solve issues not only in the crypto industry but also in other industries. This includes the likes of the banking and financial industry, where it aims to reduce the costs of transactions by eliminating the use of intermediaries and providing top-notch security measures to protect user privacy and identities.

The blockchain is energy-efficient compared to the likes of Bitcoin as it doesn’t consume as much energy. Its super-fast 600-millisecond transaction finality makes it highly scalable on a scale comparable to Kaspa, whose full confirmation transactions are at an average of 10 seconds.

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