The Sei Network’s native token SEI has seen a surge in hype and price in early 2024, including around the recently launched SEIYAN meme coin.
The SEI token itself has increased 43% in the past week, reaching a $1.6 billion market cap. But the SEIYAN token, named after the “Seiyans” term used by SEI holders, has seen even bigger gains.
There is now also a Seiyans NFT collection with Dragon Ball-inspired pixel art characters. It’s unclear if the IP holders have responded.
In the past week, SEIYAN price was up over 200% at one point, settling around 100% gains by Tuesday. It was minted just a week ago on December 27. Trading volume between SEI and SEIYAN leads on the network.
The Sei Network launched in August 2023 and saw immense hype and volume initially. But its token airdrop was controversial, with developers complaining of delays. This led to backlash and accusations of being a scam.
Sei Network raised $35 million from investors like Jump Crypto and Multicoin Capital. It aimed to compete with layer 1s like Solana, Aptos, and Sui with claims of superior speed.
However, despite the early 2024 hype around SEI and SEIYAN, Sei Network has yet to rival the success of competitors like Solana. The meme coin surge indicates renewed speculative interest in the network.
#SEIYAN #SEINetwork #memeCoin #cryptocurrency #NFTs
