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The newly listed cryptocurrency SEI took a substantial hit after its debut, plummeting over 65% from its peak value in just three days. The coin's latest 13% tumble mirrored a decline in the broader crypto market in the last 24 hours.

In a groundbreaking turn of events that has sent shockwaves through the cryptocurrency realm, the SEI Protocol has embarked on an unprecedented journey by officially unveiling its highly anticipated mainnet. This significant development has not only captured the attention of blockchain enthusiasts worldwide but has also set the stage for a potential paradigm shift within the entire blockchain ecosystem.

BeInCrypto looks at five altcoins that increased the most in this week's crypto market, specifically from August 11 to 18.

Trading-focused blockchain Sei's latest SEI token launch did not go over as well as expected after being plagued with delays and problems with the token giveaway. SEI Token Drama The newly launched Sei blockchain Sei generated quite a buzz in the crypto space as its SEI token hit the market with a resounding start, quickly amassing a market capitalization of over $400 million within the first day of trading.

In a tumultuous week for the cryptocurrency landscape, digital assets have transformed into a sea of red, causing ripples of concern among investors.

Sei crypto price has plunged by more than 80% from the highest level this week as demand for the token eased. The token plunged to a low of $0.1664 on Friday, down from its all-time high of ~$1. This decline brought the total market cap to slightly under $300 million.

Sei, a specialized trading network within the Cosmos ecosystem, has recently recorded a significant downward trend. Notably, on a day rife with anticipation, the price of Sei plunged by more than 20%, plummeting from its initial spike above $0.28 to somewhere below $0.18.

Cryptocurrency prices were in the red on Friday morning as concerns as a sense of fear spread in the market. Bitcoin plunged below the important support at $28,000 and reached a multi-month low of $26,000. Most altcoins, including ApeCoin, Zilliqa, Bitcoin Cash, Sui, and Solana also plunged.

The latest buzzy layer-one network to launch has run into turbulence in its first few days amid widespread complaints that its airdrops to early users and testers were overly stingy.

In this week's issue, we cover Coinbase's launch of "Base," a layer-2 network atop Ethereum, along with the crypto community's reaction to PayPal's new stablecoin and the brouhaha over Matter Labs' use of Polygon-crafted open-source software. The Protocol is CoinDesk's weekly newsletter devoted to blockchain and crypto technology.

A few days after its launch, the newest cryptocurrency project to trend on Crypto Twitter (X) has been deemed a “fiasco” amid massive frustration related to a promised airdrop of new tokens to investors who bridged Ethereum (ETH), Solana (SOL), and Binance Smart Chain (BNB) to the Sei Network (SEI).

The Sei Network's native token, Sei, has experienced a significant 32.59% price drop from $0.27 to $0.182 after opening airdrop claims. However, this decline came on the heels of an initial 2000% surge following the successful launch of the Sei mainnet.

The Sei Network (SEI) has faced a significant setback as its coin's value plummeted by more than 20% within 24 hours following the commencement of an airdrop for early supporters.

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the $28,500 level on Thursday. Ethereum (CRYPTO: ETH) also recorded losses, falling below the key $1,800 mark this morning.

SEI, the token of a newly launched blockchain with the same name, tops CryptoSlate's top losers' list for Aug. 17, plunging by nearly 30% in the last 24 hours to $0.17599 as of press time. During the period, several community members have also complained about the miserly amount of its airdrop.

Complaints flooded X (formerly Twitter) about the scantiness of the new SEI token allocations to early adopters, as many recipients apparently moved to dump their holdings on the market.

Sei Networks Native Token Sei Surges to $1.8 Billion Valuation on Debut The highly anticipated native token of Sei Network, named Sei (SEI), has made an impactful entry into the market, achieving an impressive valuation of $1.8 billion on its inaugural day. Renowned exchanges, including Binance, Bybit, and Bitget, eagerly listed the token on August 15.

A lot is going on in the digital assets sector with every kind of regulation coming in, and more people getting involved in the cryptocurrency market. Bitcoin's (BTC) price, was trading sideways early on Wednesday and was still below the $30,000 threshold at $28,618.20.

The buzzy blockchain project's SEI token saw a flurry of trading as it debuted on several crypto exchanges Wednesday, but there was much confusion over the status of a promised token "airdrop" to early adopters of the network.

SEI Token Price Prediction - SEI coin has gained a lot of hype after Binance and Coinbase support. However, its Atlantic airdrop has been postponed.

Sei Labs has just announced the launch of its Mainnet beta platform, seeking to facilitate the mass adoption of digital assets. Sei Foundation Announces Mainnet Launch Open-sourced tech firm behind the Sei blockchain, Sei Labs, has just announced a significant milestone in its journey toward revolutionizing the digital asset landscape.

SEI, the native token of the Sei blockchain, appears to be gaining massive traction a day after its debut on multiple major exchanges. On Tuesday, August 15, Binance, Bybit, Bitget, Kucoin, and Kucoin jointly listed the token on their trading platforms.

A leap forward for the world of blockchain technology, Sei Labs proudly announced the launch of its highly anticipated mainnet, marking the culmination of a successful testnet phase, this momentous occasion is not just about the activation of a new blockchain, but represents the dawn of a new era for exchanging and trading crypto.

The highly anticipated mainnet of Sei, a Layer 1 blockchain, has finally launched, attracting considerable attention from the cryptocurrency ecosystem. The blockchain intends to address the present inefficiencies of Web 3 infrastructure by being optimized for high-speed digital asset trade at scale.