News Explorer — SEI Token Price Collapses, Down 24% Following Airdrop

Coindesk

SEI Token Price Collapses, Down 24% Following Airdrop

The recent airdrop of SEI tokens to early adopters of the Sei blockchain resulted in disappointment as recipients quickly sold their holdings and expressed complaints about the small allocations. The value of SEI token dropped by 24% in the past 24 hours, leading to a market capitalization of $314.8 million, which fell short of traders' expectations. The Sei Foundation responded by increasing the number of eligible wallets for the airdrop due to high demand.