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Crypto News

Coinbase, Binance, Kraken Support New Layer-1 Crypto Project

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

sei

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At the same time, backing for a brand-new layer-1 crypto project is being announced by three major cryptocurrency exchanges.

Coinbase, Binance, and Kraken all declare support for Sei (SEI) on the Sei Network in new statements.

Coinbase, a US-based exchange, claims

“Coinbase will upgrade its support for the Sei (SEI) network. You risk losing money if you send this asset across other networks. In the areas where trading is supported, transfers for this asset are allowed on Coinbase & Coinbase Exchange.

In a blog post, Kraken similarly declared that trading for SEI would start today.

Binance announced support for SEI trading alongside support for CyberConnect (CYBER), another altcoin.

Built on Cosmos, Sei Network’s layer-1 blockchain is durable and monolithic, and it is suited for trading and exchanging digital assets.

Earlier this year, Sei Labs collected $30 million from a number of well-known investors in the sector to construct the “fastest layer-1.”

The project’s website claims,

“Sei is an open-source Layer 1 general purpose blockchain that is tailored for the trading of digital assets. Sei is the quickest blockchain in the sector, utilizing a revolutionary consensus and technological advances. 

Sei is frequently mistaken for a DeFi chain. But digital asset exchanges are commonplace across social, gaming, and NFTs (non-fungible tokens). The general objective of trading.

SEI debuts as the 104th most valuable cryptocurrency by market valuation.