Seamless Protocol’s SEAM Token Soars Over 31% on First Day of Trading
Seamless Protocol’s governance token, SEAM, experienced impressive growth during its initial day of trading, surging more than 31% from its opening price. The token debuted on Coinbase, a leading cryptocurrency exchange, with an initial price just below $10. Within 24 hours, SEAM’s value had risen to $11.62, demonstrating strong momentum right from the start.
Introduction of SEAM on Coinbase
SEAM represents the first token associated with Coinbase’s Base ecosystem to be listed on the exchange. Prior to the listing, Coinbase distributed SEAM tokens to active users of the Seamless lending and borrowing protocol through an airdrop.
About Seamless Protocol
Seamless Protocol was established by contributors from prominent Web3 players such as Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth. The protocol aims to enhance capital efficiency in decentralized finance (defi) by utilizing Integrated Liquidity Markets (ILMs) that enable specialized lending and borrowing dynamics.
The protocol has experienced significant growth, accumulating over $10 million in total value locked. Previously, thousands of liquidity suppliers, borrowers, and stakers earned “OG Points” for their engagement with Seamless, which have now been converted into the tradable SEAM governance token.
Potential Long-Term Impact
As the first project token from Base and a rapidly expanding defi protocol, the entry of Seamless into the public markets is a noteworthy milestone. With its substantial early traction and collaborations with major industry partners, Seamless has the potential for long-term influence.
In the short term, investors are enthusiastic about Seamless, evident from its impressive 31% gains on the first day of trading.
Hot Take: Seamless Protocol’s SEAM Token Sees Strong Start on Coinbase
Seamless Protocol’s governance token, SEAM, made a remarkable debut on Coinbase, experiencing significant growth within its first day of trading. With support from major industry players and a growing presence in the defi space, SEAM’s strong initial performance suggests promising prospects for the future.
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