Airdrop requests launched on SEI yesterday evening, as well as selling by token buyers, led to a sharp drop in price. The price, which is close to $1 on the day of the Binance listing, is trading at $0.17 at the time of news.
The number of wallets entitled to the airdrop was said to have increased this morning due to high demand for the token, which the SEI Foundation announced on the mainnet beta stage of the blockchain for the second day.
The number of wallets, which were earlier 500 thousand, later increased to 1.5 million.
As part of the airdrop, the SEI team also earmarked a 3% token allocation for themselves. This corresponds to approximately 300 million tokens. There are currently approximately 1.8 billion tokens in circulation on the SEI. The total supply consists of 10 billion tokens.
SEI, which is in the Cosmos ecosystem and aims to address the scalability and user experience difficulties encountered in blockchain technology, aims to make Web 3 applications more common.
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