The altcoin project Sei (SEI), which has been expected to be listed by investors for a long time, was listed on many exchanges such as Binance and Coinbase yesterday.
SEI, which has experienced a big jump with its listing, opened trading at $ 0.0640 on Binance, and rose to the level of $ 0.48.
Having experienced a big jump in price, SEI also recorded an increase in transaction volume.
Accordingly, SEI also experienced a huge increase in trading volumes on South Korea-based cryptocurrency exchanges, recording hundreds of millions of dollars in volume in one day on the country's largest exchanges Upbit and Bithumb.
Accordingly, on Upbit, the SEI-KRW trading pair reached a trading volume of $ 560.1 million in 24 hours, while on Binance, the SEI-USDT pair took the second place with a trading volume of $ 160.3 million in 24 hours.
On Upbit, the SEI-KRW pair became the most traded pair yesterday.
Upbit and Binance were followed by Bithumb with $67.7 million in SEI-KRW trading volume.
Speaking to The Block, Jeff Mei, COO of crypto exchange BTSE, said the following about the increase in SEI trading volume.
“In fact, Upbit's overall trading volumes exceeded those of Coinbase and OKX in July of this year, indicating resilient crypto trading activity in the Korean market.
Also, most of the investors are yearning for the high volatility in the current trading environment.
At this point, there seems to be a potential to be a real competitor for SOL and SUI in SEI and attract the attention of investors. “
SEI continues to trade at $0.2320, with a 30 percent rise at the time of writing.
*Not investment advice.